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HOUSTON,
June 4,
2004/Satnews/
Verdisys,
Inc announced that its current director, O. James Woodward III, has accepted
the position as Chairman of the Board, replacing Ronald Robinson. Mr. Robinson
will continue to serve as a director on the Board but will step down as
Chairman and interim Chief Executive Officer. Effective immediately, the role
of CEO will be shared by David Adams, President and Chief Operating Officer,
and John O'Keefe, Executive Vice President and Chief Financial Officer.
In December
2003, the Board of Verdisys made major changes in the executive management of
the company. At that time, Mr. Robinson accepted the role of interim President
and CEO with the objective of re-building the executive team. Mr. Robinson
retired from Texaco as President of Texaco Technologies. In January 2004,
David Adams was hired from Hydril as President and John O'Keefe was hired from
Ivanhoe Energy as Chief Financial Officer.
O. James
Woodward III has served as a director on Verdisys’ Board since its inception
in April 1999. From 1992 to 1999, Mr. Woodward was an attorney in private
practice in Fresno, California. From 1995 to 2000, he was Chairman of MJ
Construction Co., a Fresno, California-based construction company, and from
2001 to 2003, he served as a consultant in Fresno, California. Mr. Woodward is
currently Of Counsel with the law firm of Baker, Manock and Jensen. He
currently serves on the board of directors of Gottschalks, Inc. and several
foundations. Mr. Woodward received his M.B.A. from Stanford Graduate School of
Business and his J.D. from the University of California, Berkeley Law School.
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