Mr. Roman joins the Company from Columbia Ventures Corporation (CVC), a private investment company with significant holdings in the United States and Europe, where he has been President since 2002. During more than 17 years at CVC, Mr. Roman has served in a variety of capacities including Chief Operating Officer and Chief Financial Officer. Prior to joining CVC in 1992, Mr. Roman was a partner at the independent accounting firm of Coopers & Lybrand.
Mr. Roman has served on the Audit Committee of the Board, which, as has been previously disclosed, is conducting, with the assistance of independent professionals, an ongoing internal investigation of certain accounting matters, including certain revenue recognition practices. As CEO, Mr. Roman's initial primary focus will be on achieving a resolution of these issues.
"I believe this change is in the best interests of the Company as we continue through our investigation of accounting matters," said William R. Tagmyer, Chairman of the Board. "This investigation has placed significant demands on the Company and Rich Roman's addition will help bring these issues to resolution. It is important during this period to maintain and strengthen our focus on our operations and opportunities. As President, Brian Dunham's time and energy will be concentrated on the day to day operations of the Company."