MURRIETA, Calif., July 31 CLX Medical, Inc. (Other OTC: CLXM) today announced the resignation of the President/CEO and two members of the Board of Directors in anticipation of the company pursuing an acquisition to become the focus of its future operations.
The Board accepted the resignation of President/CEO Steven R. Peacock effective July 20, 2009. On July 22, 2009, the Board appointed Director Bob McCoy to fill the positions of Interim Chief Executive Officer and Interim President. Also on July 22, 2009, Directors Jim Bickel and Pat Edgerton resigned as members of the Board. Bob McCoy is now the sole officer and director of the company.
The management changes were undertaken in order to prepare the company for the process of an acquisition transaction. As part of that process, new management will be appointed to fill the vacated officer and director positions.
"I would first like to thank the members of management who have resigned for their service to the company," said Mr. McCoy. "While the company's previous business model did not prove to be sustainable given current market conditions, the officers and Board members did all they could to advance the company during their respective tenures. As the company moves forward with its acquisition strategy, we will provide information for shareholders as soon and as frequently as possible."
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All statements included in this release, including statements regarding potential future plans and objectives of CLX Medical, Inc. are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Medical's control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.
SOURCE CLX Medical, Inc.