Nizar J. Somji returns to Matrikon as interim CFO

February 12, 2007
MatrikonOPC
News

Summary

Somji founded Matrikon in 1988 and was chief executive officer until December 2005 at which time he retired to become Chairman of Matrikon’s board. Somji has stepped down as Chairman of the board but will retain his directorship. Hugh Bolton, who most recently acted as Lead Director following four years of service as board Chairman, will resume the role of Chairman.

Edmonton, Alberta - February 12, 2007 - Matrikon announced that Nizar J. Somji has returned to Matrikon’s management team as interim chief financial officer. Nizar founded Matrikon in 1988 and was chief executive officer until December 2005 at which time he retired to become Chairman of Matrikon’s board."We are very excited to have Nizar back on the management team," stated Amin Rawji, Matrikon’s president and CEO. "No one understands our business better so he is the ideal person to drive some of our key strategies in the finance area, including optimizing operating expenditures to support our strategic objectives. With Nizar’s intimate knowledge of our business model and the technical skill of our finance group, we have a strong team in place."In conjunction with his appointment as interim CFO, Nizar has stepped down as Chairman of the board but will retain his directorship. Hugh Bolton, who most recently acted as Lead Director following four years of service as board Chairman, will resume the role of Chairman. "The board supports management’s decision," said Mr. Bolton. "We are pleased to have Nizar back on the management team to serve as CFO until a suitable candidate can be found and groomed for the position."Given the strong history Amin and Nizar share, working together through the years to achieve Matrikon’s vision, we are pleased to have them working together once again."The current CFO, Mr. Tariq Malik, C.A. left the company effective today to pursue other opportunities. "We thank Tariq for his contributions to Matrikon over the eight months he has been with us," said Mr. Rawji.Conference Call Monday, February 12 at 2:00 pm EasternMatrikon President and CEO Amin Rawji and CFO Nizar J. Somji will hold a conference call today at 2:00 pm Eastern time (12:00 pm Mountain time). To participate live, call 416-644-3417 in the Toronto area and 1-800-732-6179 for all other areas. A replay will be available until midnight on Monday, February 19, 2007. To access the playback service, please dial 416-640-1917 in Toronto or 1-877-289-8525 elsewhere, reservation number 21219801#. Learn More

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