Dr. Peter Scovell is new CoB for International Datacasting
OTTAWA, Canada, April 5, 2007 - Satnews Daily - International Datacasting Corporation (TSX: IDC) has elected director Dr. Peter Scovell chairman of the board of directors, effective immediately. Longtime chairman Denzil Doyle resigned the post and will continue as an active director.
The announcement came after IDC's fiscal year-end board meeting and coincides with the release of financial results for the year which highlight a third consecutive year of profitability and revenues up more than 30% over the previous year.
Doyle said IDC is a great company and found it a pleasure to serve as its chairman for the last 12 years. “The company has just finished a good year and is poised for great things. This is a good time for new leadership to help take us to the next step. I'm pleased that Peter Scovell has accepted the role of chairman. He's been an important contributor to the Board over the last few years and has the corporate experience and technology expertise we need in a chairman. For my part, I look forward to continuing to participate actively in the board as a director."
Dr. Scovell, who holds a PhD in theoretical physics, said he was pleased to accept the position of chairman of the board, and was enthusiastic about the company's accomplishments and future prospects.
"These are exciting times for technology-driven companies in the broadband wireless space and IDC is ideally positioned, at the forefront of one of the more interesting sectors with excellent growth potential. On behalf of the board of directors, the employees of IDC and my fellow shareholders, I would like to extend our sincerest gratitude to Denzil Doyle for his leadership, investment and many personal contributions over the years that he has served as chairman of the IDC Board. It is an honor to serve with him and I'm grateful we'll continue to have his wealth of experience and legendary insight on the board."
IDC president and CEO Ron Clifton said Denny Doyle presided over an extraordinary stage in the development of the company. Doyle believed in the promise of new technologies and helped lead IDC into the 21st century.
"His business acumen has served us well in surviving rough times in the industry. I consider it a personal privilege to call him a colleague and a friend. I'm looking forward to working with Peter Scovell. As chairman, he will bring frontline technology experience, strategic thinking, and specific market expertise that will serve us well as we continue to grow the company and build shareholder value."
Doyle is a widely respected leader in the Canadian high tech community and has been chairman of IDC since 1994. Recognized as a "technology guru," he has been instrumental in the development, growth, and promotion of Canada's high tech community. As co-founder of Capital Alliance Ventures, he led the investment of millions of dollars in the telecommunications and software sectors. For more than four decades, he has provided financial backing and guidance to both emerging and established businesses. He is the author of Making Technology Happen and a recipient of the Order of Canada-the country's highest civilian honor.
Dr. Scovell, a member of IDC's board of directors for the last four years, has more than 25 years’ experience managing technology enterprises, including senior positions heading up Nortel's fixed wireless business and later Nortel's global strategy in satellite wireless access. Today, he is head of Newlyn Technologies, an international technology consultancy he founded in 1999. In that capacity, he works closely with the New York-based private equity company, Warburg Pincus LLC, advising on all aspects of the communications and information technology sectors-from broad strategy to investment advice. He also serves on several boards including ComDev, is a Chartered Physicist and a Fellow of the Institute of Physics. He has a PhD in theoretical physics from the University of Leeds and more than 30 semiconductor, photonics and wireless patents to his name.
IDC (TSX: IDC) provides products, systems and services for the implementation of broadband wireless infrastructure networks used to distribute multimedia data. IDC delivers IP-based datacasting solutions via satellite and content distribution technologies.
