TEMECULA, Calif., Sept. 14, 2004 (PRIMEZONE) -- S3I Holdings, Inc. (OTCBB:SEIH) today announced that at a recent meeting, its Board of Directors approved changes to the Company's management team. Chris Bickel was appointed as Interim Chief Executive Officer, and Shane Traveller, who currently serves on the Board and will continue in that capacity, was appointed as Interim Chief Financial Officer. The Board and Wayne Yamamoto mutually agreed that it would be beneficial for S3I Holdings and Securesoft Systems that Mr. Yamamoto pursues other interests and new management takes his place.
The Company's Board of Directors and new officers plan to continue to provide management assistance and oversee the operations of Securesoft Systems as part of its function as the parent company of its subsidiary.
Mr. Bickel has over 20 years in International Operations and Sales and Marketing management positions with both public and private companies, with significant experience in the production and distribution of a wide range of products, markets and technology in most of the industrial and commercial markets around the world. While working at FTSE-listed and NASDAQ-listed companies, Mr. Bickel held a wide range of positions in sales, marketing and operations management. During his tenure as Director of Sales and Marketing for a semiconductor detector manufacturing company, the customer base was converted from Research and Development institutions to an Original Equipment Manufacturer (OEM) clientele that included GE, Toshiba, Philips, Hitachi, and Siemens.
While President of a privately-held Japanese company, Mr. Bickel set up direct offices and employees in the USA and Europe while managing the regulatory approvals process and set up distribution throughout the world and managed dozens of pre-approval clinical trials and clinical tests in hospitals in the USA, Europe and Asia.
Mr. Bickel is currently President of SINO UJE Ltd. a non-stocking distributor that sells and services western designed and manufactured high-tech products to markets in China and COO of Nicholas Investment Company, a subsidiary of YaSheng Group, a diversified agricultural and industrial conglomerate.
Christopher Berlandier, Chairman of the Company, commented, "We are pleased to add Officers to the S3I Holdings team with such comprehensive backgrounds in investment company management. With experience in operations, marketing, finance, and overall corporate governance, the Company firmly believes that S3I Holdings will move forward in a positive direction and expects to build an investment portfolio consisting of assets with significant growth potential. Further, we appreciate the years of service that Mr. Yamamoto has given to S3I Holdings and Securesoft Systems and wish him luck in his future endeavors."
Company Profile
S3I Holdings, Inc. (http://www.s3i.us) is a Business Development Company regulated by the Investment Company Act of 1940. Its first operating subsidiary, Securesoft Systems, Inc. (http://www.securesoftsystems.com) was acquired in April 2003 and is a leader in compliance and risk management software, services and Internet technologies for regulated industries. S3I Holdings is currently seeking to acquire additional synergistic companies and is focused on assembling a portfolio of investments that will provide value to its shareholders.
This release contains forward-looking statements which involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements are based on currently available information which management has assessed but which is dynamic and subject to rapid change due to risks and uncertainties that affect our business, including, but not limited to, the impact of competitive products and pricing, limited visibility into future product demand, regulatory interpretation, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.