2006 Q3 MDA P. 7 - Results for shareholders after 14 years?"Board of Directors and Officers
At the Annual and Special Shareholders’ Meeting held on April 20, 2006, the following five individuals were elected: Dr. Michel Fattouche, John Gillberry, William Jenkins, Dr. Robert Schulz and Dr. Hatim Zaghloul. At a Board meeting immediately following the shareholders’ meeting, Dr. Zaghloul was elected Chairman of the Board. Jim Skippen, who joined Wi-LAN as President and CEO on June 19, 2006, was appointed to the Board effective that date.
Jim Skippen joined Wi-LAN as President & CEO on June 19, 2006, and was also named as Chief Legal Officer. Steve Bower, who has been Acting CFO since March 1, 2006 continues in that capacity until January 1, 2007, when he becomes a full-time employee and is named CFO. The two other officers of Wi-LAN, both effective August 28, 2006 on joining the Company are: Bill Middleton, VP Licensing and General Counsel, and Jung Yee, CTO.
Results of Operations
Following an extensive review of strategic alternatives, Wi-LAN decided to focus on commercializing its portfolio of wireless technology patents. To achieve this objective, the Company’s Board of Directors approved a plan in January 2006 to exit its products businesses, and in March 2006 to divest its engineering services business. In both cases, Wi-LAN planned for the exits to be implemented in an orderly manner in order to optimize the financial implications and provide continuity of service and support for customers and channel partners. After completion of the divestitures in April and May 2006, a new President & CEO, Jim Skippen was hired in May 2006 and began full-time duties with the Company in June. Since then, Mr. Skippen has recruited personnel to fill a number of key positions required to implement the Company’s patent licensing strategy, including VP Licensing, General Counsel and Secretary; Chief Technology Officer; Director, Market Research; and Office Manager. The two executives started with Wi-LAN in late August 2006. "
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