REDONDO BEACH, Calif., June 22, 2004 (PRIMEZONE) -- CorpHQ Inc. (OTC:COHQ) has announced the expansion of its executive team with the appointment of Carlton McGee, Sr. as Chief Financial Officer. Mr. McGee brings to CorpHQ a highly diversified career in both the private and public sectors spanning more than 30 years. For the past 14 years he has held a series of high-level public finance posts.
Until last Friday, June 18th McGee served as the Business Administrator for the city of Jersey City, where he was the appointing authority and chief operating officer. Mr. McGee managed an annual operating budget exceeding $375 million covering 17 Departments and 2,500 employees, and assisted the Mayor in direct supervision of all divisions of city government.
Before coming to Jersey City, Mr. McGee was the Chief Financial Officer for the City Colleges of Chicago with an annual budget of $300 million. As Deputy Chief Financial Officer for Cook County with an annual budget of over $3 billion, Mr. McGee led the selection and design of the first integrated enterprise accounting system. Mr. McGee also worked as First Managing Deputy Comptroller for the City of Chicago and as First Deputy Treasurer for the City of Chicago supervising the upgrading of their financial systems. Subsequent to these positions, Mr. McGee worked 16 years in private sector management consulting, sales and marketing functions. Mr. McGee holds a B.S. in Chemical Engineering from Northwestern University in Evanston, Illinois and a M.B.A. in Finance from the University of Chicago.
"The addition of Carlton McGee to our executive management team is yet another major milestone in CorpHQ's history," said Steve Crane, CorpHQ's CEO. "He is an extremely sophisticated executive with the requisite contacts and experience to help move CorpHQ up the financial ladder."
Carlton McGee said, "I loved what I saw when I visited CorpHQ's California office last month. This is a group of experienced entrepreneurs that know exactly where they want this company to be in the future and are taking a step-by-step approach to meet those goals. I am excited about this opportunity and look forward to adding value for our shareholders."
Mr. Crane added, "I like to think that we have made a powerful statement to our investors with this appointment. We are committed to increasing our efficiency, reducing the time from launch of a portfolio company to liquidity event and to expanding the scope of our operations. We believe Carlton will make a powerful contribution toward our meeting those goals."
About CorpHQ, Inc.
Since the inception of its predecessor company in 1993, CorpHQ, Inc. has evolved from an innovative online marketplace and virtual corporation for small and home-based businesses into a business consulting organization and holding company comprised of established and emerging companies. The CorpHQ companies address vertical market segments in the Consumer Products, Services and Technology industries. For additional information please visit the Company's website at www.corphq.com.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain "forward-looking statements", as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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