ARIS ARI Announces Transition of Chief Financial Officer
ARI (OTCBB: ARISstock news), a leading provider of technology-enabled business
solutions that connect equipment dealers, distributors and
manufacturers, announced its agreement with Kenneth S. Folberg, the
Company’s Chief Financial Officer, that as of June 16, 2009, Mr. Folberg
will cease to act in that capacity, but will continue to work with the
Company in a consulting role on special projects (including transition
activities) during the next nine months in accordance with the terms of
a new agreement between Mr. Folberg and the Company.
William C. Mortimore, Chairman of the Company’s Audit Committee, and Mr.
Folberg have confirmed through their discussions that the change in Mr.
Folberg’s role does not involve any issues concerning the integrity of
the financial statements or with the Company’s internal controls over
disclosure or financial reporting.
“I thank Ken for his contributions while he was at ARI, and wish him
well in his future endeavors,” stated Roy W. Olivier, ARI’s President
and Chief Executive Officer.
A nationwide search for a new Chief Financial Officer will begin
immediately. Brian E. Dearing, ARI’s Chairman of the Board, will assume
the role of Acting CFO during the search process. “We have an
experienced financial staff in place, and I am confident that, under
Brian’s leadership, we will not lose any momentum,” added Olivier.
ARI is a leading provider of electronic parts catalogs and marketing
services to dealers, distributors and manufacturers in the manufactured
equipment markets. ARI currently serves approximately 100 manufacturers
and 190 distributors worldwide. Additionally, ARI provides electronic
parts catalogs, dealer websites and/or professional marketing services
to more than 25,000 dealers in about a dozen segments of the worldwide
equipment market including outdoor power, power sports, marine,
recreation vehicles, appliance, agricultural equipment, floor
maintenance, auto and truck after-market parts and construction. For
more information on ARI, please visit our website: www.arinet.com.
Donna Wycklendt ARI Network Services, Inc. Tel: (414) 973-4331 Fax:
(414) 973-4620 Email: wycklendt@arinet.com
