Global Entertainment Announces Reorganization of Executive Management Team
22 April 2011 - 10:24PM
Business Wire
Global Entertainment Corporation (OTCBB:
GNTP) – an integrated event and entertainment company, today
announced several decisions by its Board of Directors related to a
reorganization of the company’s executive management team.
In an effort to focus management’s responsibilities more
effectively, the Board of Directors of Global Entertainment
appointed Steven E. Lee as Chief Operating Officer. He previously
served as the company’s Executive Vice President and Chief
Administrative Officer. Mr. Lee will now be responsible for all
day-to-day operations of the company as well as continuing to
oversee human resources, information technology, legal, contract
administration and related areas. He will continue to focus on
creating operational and cost efficiencies for Global
Entertainment.
Mr. Lee stated, “Although the company has experienced a number
of challenges recently, I look forward to continuing to roll up my
sleeves in an effort to meet these challenges head on.”
Richard Kozuback, President and Chief Executive Officer,
affirmed, “I look forward to continuing to work with Steve in the
best interest of our shareholders.” Mr. Kozuback elaborated,
“Steve’s assumption of this new position will allow me to focus my
time and effort on new prospects for the company such as
multi-event centers and other revenue drivers. I will be able to
devote more personal attention to working on strategic
opportunities and continuing to guide our successful Central Hockey
League operations while Steve concentrates on operational
responsibilities.”
In addition, Charles Mathews has resigned as Chief Financial
Officer of the company effective today. Mr. Mathews stated, “My
decision to leave the company to pursue other opportunities is a
personal and difficult one.” The company will operate with its
controller working under the guidance of Mr. Lee for the near
future.
On behalf of Global Entertainment’s Board of Directors, W. James
Treliving, Chairman of the Board, stated, “The Board is pleased to
institute the position of Chief Operating Officer. Steve has
performed admirably thus far in executing tasks while navigating
through the company’s operational difficulties and we are confident
in his ability to assume full operational responsibility going
forward while Mr. Kozuback concentrates on driving new business.”
Mr. Treliving continued, “These have certainly been challenging
times for the company and the Board is focused on making the
necessary hard decisions on behalf of all of the company’s
shareholders. We maintain belief in the long-term potential of
Global Entertainment, anchored by our successful Central Hockey
League operations, and will continue to dedicate our energy towards
helping the company realize a successful future.”
Visit our web sites:
www.globalentertainment2000.com
www.centralhockeyleague.com
www.coliseums.com
www.GetTix.net
Global Entertainment Corporation is an integrated events and
entertainment company focused on mid-size communities that is
engaged, through its seven wholly owned subsidiaries, in sports
management, multi-purpose events and entertainment centers and
related real estate development, facility and venue management and
marketing and venue ticketing. Global Properties I, in correlation
with arena development projects, works to maximize value and
develop potential new properties. International Coliseums Company,
Inc. (ICC) serves as project manager for arena development while
Encore Facility Management and GEC Food Service, LLC coordinate
arena operations and concessions. Global Entertainment Marketing
Systems (GEMS) pursues licensing and marketing opportunities
related to the Company’s sports management and arena developments
and operations. Global Entertainment Ticketing (GetTix.Net) is a
ticketing company for sports and entertainment venues. The Western
Professional Hockey League, Inc., through a joint operating
agreement with the Central Hockey League, is the operator and
franchisor of professional minor league hockey teams in nine
states.
Certain statements in this release may be "forward-looking
statements" within the meaning of The Private Securities Litigation
Reform Act of 1995. These forward-looking statements may include
projections of matters that affect revenue, operating expenses or
net earnings; projections of capital expenditures; projections of
growth; hiring plans; plans for future operations; financing needs
or plans; plans relating to the company's products and services;
and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Future events and actual results could differ materially from those
set forth in, contemplated by, or underlying the forward-looking
information.
Some of the important factors that could cause the company's
actual results to differ materially from those projected in
forward-looking statements made by the company include, but are not
limited to, the following: limited liquidity and the need for
additional financing intense competition within the sports and
entertainment industries, past and future acquisitions, expanding
operations into new markets, risk of business interruption,
changing consumer demands, dependence on key personnel, sales and
income tax uncertainty and increasing marketing, management,
occupancy and other administrative costs.