Fred Godard has resigned as a director of International Datacasting Corp. Last month, Godard also stepped down as the company’s president and CEO, positions he had held since March 2010.
The Board currently consists of Chairman Del Lippert, Georges Ata, Graham McBride and Peter Strom. Lippert is also serving as interim CEO, and he previously served as a director of IDC from 2009 until July 2011. A search for a new president and CEO has already commenced.
Virginia Lee Williams has also been appointed to replace Rudi Polednik as vice president of sales and marketing. She most recently served as VP of sales for the Americas and China at Printronix and has also held the title of VP of Global Sales Operations for the Harris Broadcast Communications division. She has 25 years of global sales experience in broadcast and satellite communications, hardware and software product lines.
The Board of Directors also announced that it plans to expand the board by appointing two additional board members in the upcoming months. “We are seeking candidates who will complement the existing level of industry expertise and presence at the board level in addition to augmenting our overall corporate governance,” explained Strom, the chairman of the Corporate Governance and Nominating Committee.
IDC has also cancelled 2,983,783 common shares previously registered in the name of Adam Adamou, who had “3,000,000 common shares previously pledged by Mr. Adamou as security for the repayment of the $552,000 loan made by IDC to him in December 2010 while he held the position of Executive Chairman. Concurrently with the cancellation of these securities and in accordance with the agreement with Mr. Adamou, the $552,000 loan has been retired,” according to Lippert. The remaining 16,217 common shares from the share pledge will be released directly to Adamou, who led an unsuccessful proxy fight against the board in July.
