Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of President
Effective January 12, 2017, Mr. Derek Duhame was appointed President of the Company. Mr. Duhame replaced Robert Doherty as President and Mr. Doherty remains the Chief Executive Officer of the Company.
Mr. Duhame is an accomplished executive leader with expertise in driving performance, Profit and Loss oversight, multichannel product distribution, and marketing involving both start-up and growth operations. Mr. Duhame is a results oriented, decisive leader with proven success in market identification, and strategic positioning. He is proficient in sales strategy, national and regional sales team structure and oversight, value propositions, client facing presentations, RFP's and contract negotiations. He has particular expertise in developing and executing business plans and winning service strategies. He is skilled at relationship-building, strategy development, account penetration, consensus building, political astuteness, and detailed follow-through to achieve complex sales initiatives.
His 20+ year career has included executive level sales and marketing positions with Impact Strategic Marketing Insights, Altrux Medical, Rocktenn, Smarter Flush Distributors and Consumer Source/Distributech.
As Vice President of sales at Distributech, Mr. Duhame directed a multimillion-dollar operation for Distributech, a distributor of industry-leading free publications including contract delivery and display services for over 2,000 customers, 60,000 delivery locations, 120 employees and 700 independent contract delivery drivers. Mr. Duhame lead Sales Management with a $60 Million Profit and Loss accountability, focusing on revenue growth, expense reduction and client retention with national and regional retail chains. Additionally, Mr. Duhame negotiated and signed the highest value agreement in the company's 30+ year history, producing a multi-million dollar annual EBITDA contribution, generated annual incremental revenue gains of 16% by developing sales strategy, partnerships, creative pricing, renewal strategies and out-of-the-box new sales initiatives, and galvanized a sales management team that achieved consistent, double digit percentage revenue gains. As a national accounts manager, Mr. Duhame lead business development to increase retail presence over 100% through negotiating $40M+ in agreements comprising 12,000+ distribution locations, increased advertising revenues by 300%, converted a national top tier grocery store chain to long-term partnership after 13 years with a competitor, and retained 100% of retail distribution partners throughout a 12-year tenure.
Mr. Duhame is not subject to a written employment agreement with the Company.