Pacific WebWorks Announces Corporate Restructuring
November 13 2012 - 4:00PM
Business Wire
Pacific WebWorks, Inc. (OTCBB: PWEB) today announced that the
Company’s longtime Chairman and CEO, Kenneth W. Bell, intends to
retire effective November 30, 2012. Mr. Bell has served as the CEO
of Pacific WebWorks since joining the Company in January 2001 and
as Chairman since March 2001. Company President K. Lance Bell has
been appointed as the new Chairman and CEO, effective December 1,
2012.
Lance has served as President of Pacific WebWorks since May 2011
and has 13 years previous experience in the software business, most
recently with CedarCrestone, Inc., an international software
consulting firm. Lance holds an MBA from Emory University in
Atlanta, Georgia.
The Company also announced that James C. Roundy will be
appointed as Vice President of Sales and Marketing and will fill a
seat on the Company’s board of directors. Additionally, Tanner J
Purser will be appointed as Controller and Secretary to the board
of directors.
Mr. Roundy has spent several years working in the financial
services industry. Most recently, he founded and operated a sports
apparel business, a majority of which was purchased by Pacific
WebWorks in 2011. Mr. Roundy holds a B.S. in Economics from the
University of Utah.
Mr. Purser has several years experience as an accountant and an
independent auditor. Most recently, he has been serving as the
Accounting Manager for Pacific WebWorks. Mr. Purser holds a Masters
of Accountancy from Westminster College in Salt Lake City,
Utah.
Lance Bell, Company President, stated, “We’d like to thank Ken
for his many years of service at Pacific WebWorks. He has provided
invaluable leadership for the Company through many challenges and
successes. Ken will be missed and we wish him well as he moves on
to new pursuits.”
Bell continued, “We are excited to have James and Tanner join
the management team at Pacific WebWorks. They are both uniquely
qualified to help lead the business and make a valuable
contribution to our future success.”
Bell concluded, “We are moving forward into the next chapter of
the Pacific WebWorks story, fortunate to have the resources that
will help to facilitate the Company’s growth and committed to
building value for our shareholders. We are enthused about the
opportunities that the future holds and confident that we can
achieve much success as we execute our business plans.”
About Pacific WebWorks
Pacific WebWorks provides a comprehensive suite of affordable,
easy-to-use software programs for small businesses that want to
create, manage, and maintain an effective Web strategy including
full e-commerce capabilities. Pacific WebWorks operates a number of
wholly owned subsidiaries including Intellipay, our Internet
gateway, TradeWorks Marketing, Headlamp Ventures and others.
Forward-Looking Statements
All statements other than statements of historical fact included
in this press release are forward-looking statements. Words such as
"anticipate," "believe," "estimate," "expect," "intend" and other
similar expressions as they relate to the Company or its
management, identify forward-looking statements. Such
forward-looking statements are based on the beliefs of the
Company's management as well as assumptions made by and information
currently available to the Company's management. These statements
are not a guarantee of future performance. Actual results could
differ materially from those contemplated by the forward-looking
statements as a result of certain factors, including the Company's
ability to maintain sufficient credit card processing capabilities
to service the demands of their hosting portfolio and other risk
factors discussed under the caption "Risk Factors" in our Annual
Report on Form 10-K for the year ended December 31, 2011 as filed
with the Securities and Exchange Commission. Such statements
reflect the current view of the Company's management with respect
to future events and are subject to these and other risks,
uncertainties and assumptions related to the operations, result of
operations, growth strategy and liquidity of the Company. All
subsequent written and oral forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by this paragraph. The Company has no
intention, and disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future results or otherwise.
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