Green Globe International, Inc. Board Unanimously Accepts the Resignation of CEO and Managing Director, Steven Peacock
03 September 2010 - 1:04AM
The Green Globe International, Inc. (Pink Sheets:GGII) board has,
at a special board meeting, unanimously accepted the resignation of
Steven Peacock as CEO and Managing Director. His efforts in trying
to bring the Green Globe Brand into a public company framework in
the United States have been appreciated. The company will continue
to look for and develop revenue producing models that will increase
shareholder value and continue to support its licensees throughout
the world.
"We believe the time has come for the board to look at decisive
measures that will expand on these challenges now and into the
future," said Gary Nerison, Interim Chairperson of Green Globe
International. The resignation takes effect immediately.
"The next 90 days will be critical for the company as we
re-build the organization around the well respected brand. The
challenges ahead cannot be underestimated but through a united
interim board, I am confident we will be in a position in the near
future that provides the opportunity for shareholders to regain
much needed value in their GGII portfolio,' said Mr. Nerison.
To coincide with this, the board agreed to focus on operating at
a low cost base reflective of its current revenue position. As
such, the company will be more selective in the generation of media
to allow industry news and revenue producing activities room for
true promotion.
The board also agreed to begin a 90 day period of consolidation
and planning. During this period, the board will invite two
industry specialists into the company to act as interim CEO and
interim Director. It is anticipated that the two positions will be
announced over the coming weeks.
The focus during the next 90 days for the interim board will be
to:
- Provide greater transparency to shareholders in the operational
and corporate stock activities
- Diversify the business model and build a plan that creates
revenue producing opportunities for the company
- Elect a full time board and CEO
- Keep operational costs to a minimum
The company encourages all shareholders and others interested in
following the progress of the Green Globe brand to subscribe to
receive email alerts whenever new information is made
public. To subscribe, please visit
http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc., through its 88% majority
ownership in Green Globe, Ltd., a UK corporation, is the worldwide
owner of the Green Globe brand, the recognized leader of
sustainability certification and benchmarking programs, carbon
footprint calculation and offset programs, and a broad range of
consulting services. Green Globe
International is an affiliate member of the United Nations World
Tourism Organization and the World Travel & Tourism Council
(WTTC), the business leaders' forum for the travel and tourism
industry, is a major shareholder of Green Globe
International. For more information on the company and its
programs, please visit www.greenglobeint.com or call
888-528-0883.
For information on Green Globe Certification, please visit
www.greenglobe.com. To see sustainable travel options, please
visit www.greenglobe.travel.
The Green Globe International, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6582
Safe Harbor Statement
This release contains forward-looking statements with respect to
the results of operations and business of Green Globe
International, Inc., which involves risks and uncertainties. The
Company's actual future results could materially differ from those
discussed. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to
the "Safe Harbors" provision of the Private Securities Litigation
Reform Act of 1995.
CONTACT: Green Globe International, Inc.
Public Relations and Communications
888-528-0883
corporate@greenglobeint.com
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