International Datacasting Corporation has announced that James Hall, an independent director of the Corporation, had been appointed as IDC’s new Chairman of the Board, effective immediately. The appointment follows Adam Adamou’s stepping down from the position effective February 10, 2012. Mr. Adamou will continue to serve IDC as a director.
With the appointment of Mr. Hall as IDC’s Chairman and because Mr. Hall is independent, it is no longer necessary for IDC to have a lead director. As such, Frank Ruffolo (IDC’s lead director since September 6, 2011) has stepped down from such position, effective immediately. Mr. Ruffolo will continue to serve IDC as a director.
James Hall stated “I am pleased to assume the position of Chairman of the Board of IDC, and look forward to working with each member of the Board to assist Management in continuing to build a more inventive, innovative and successful company”.
In connection with the above-noted changes, IDC has formed a committee consisting of Adam Adamou (director), Fred Godard (President and Chief Executive Officer and a director), Graham McBride (director) and Frank Ruffolo (director) to identify candidates to join the Board as part of the ongoing process to further build-out its collective skill-set. Any such candidates recommended by the committee would be reviewed by the full Board.
James Hall, CA, has been a director of IDC and Chairman of the Corporation’s Audit Committee since August 10, 2010. Mr. Hall is also a director of each of Indigo Books & Music Inc. (a Canadian book and media retailer) and Immunovaccine Inc. (an early-stage vaccine development company) and was, until March 2009, Chairman and Chief Executive Officer of Journal Register Company (a US-based pure-play newspaper publisher). Mr. Hall is also the Chairman of the Audit Committee of Immunovaccine Inc. and a member of the Audit Committee of Indigo Books & Music Inc.