Los Angeles, Nov. 13, 1998 (PRIMEZONE) -- Showscan Entertainment Inc. (OTC BB: SHOW) today announced a major realignment of its corporate structure.
Dennis Pope, President and Chief Executive Officer, named two Senior Vice Presidents and four Vice Presidents, a significantly changed Showscan team that Mr. Pope said will set the stage for Showscan's future as the leader in the motion simulation industry.
Mr. Pope named Russell H. Chesley, who joined Showscan as Vice President-Worldwide Sales in August 1995, as Senior Vice President with responsibilities in a new corporate capacity to encompass Sales and Marketing, Film Production, Film Acquisitions, Film Financing, New Markets and designated new ventures.
Michael B. Ellis who joined Showscan as its Vice President-Engineering and Product Development in July 1994, has been promoted to Senior Vice President. Mr. Pope expanded his corporate responsibilities to include Owned and Operated Theatre Operations, Film Licensing and Distribution, all Customer Service Operations, including sales and marketing support, theatre installation and thrill-ride motion programming, Post-Production Services and designated new ventures.
Ernest Bakenie has been promoted to the position of Vice President Sales & Marketing. Mr. Bakenie began his career with Showscan in 1997. Prior to his new position, Ernie was responsible for the sales in Greater Asia.
Patti Gordon, who joined Showscan as Manager of Human Resources in March 1990, and was promoted to Director of Corporate Services and Human Resources in May of 1997, has been promoted to Vice President-Human Resources and Corporate Services. Ms. Gordon will handle the Company's human resource functions and is responsible for all activities maintaining the operation of the Company's corporate infrastructure.
Jeanne Lucas, who joined Showscan in March 1996, has been named Vice President, Showscan Studios, the film production and development arm of Showscan. Ms. Lucas has been involved in the Showscan production and/or development of Dynamite Train, Hollywood Stunts, Street Luge, Stormrider and Alpine Express. Her independent credits include: Paint It Black, Ladies Nite Out, Peter, and Reel Horror, co-executive producer and co-creator of TV series Out of Service, developed with Castle Rock; P.E.O.N. - TV, and Louie Karnopski, R.N..
Marc Sabella who joined the Company in June 1995, has been promoted to Vice President - Corporate Controller and Secretary of the Company. Mr. Sabella is responsible for all of the Showscan accounting and financial reporting.
Mr. Pope said, "This revamped Showscan team represents the resource launching pad for moving the company to its next level. Each of these executives will play a key role in the continuing development and implementation of the company's strategy and returning Showscan to profitability. Equally important is the fact that these promotions and the realignment of corporate structure and responsibilities will, for the first time since my appointment as President and Chief Executive Officer in March 1997, allow me to fully focus on Showscan's long-term strategies in both its core businesses and in new business ventures."
Showscan Entertainment is an international leader in the production and exhibition of exciting movie-based entertainment attractions shown in large screen, special format theatres worldwide. Showscan's simulation and specialty theatres are open or under construction in 24 countries around the world, located in theme parks, motion multiplexes, expos, world's fairs, resorts, shopping centers, casinos, museums and other tourist destinations.
NOTE: Except for the historical information contained herein, the statements made in this release constitute forward-looking statements that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward looking statements, including the number of timing of sales of Showscan attractions, the development and acceptance of new products, the impact of competition on the Company's products and pricing, the Company's ability to locate, finance and operate theatres for the Company's account, and the other risks detailed from time to time in the Company's reports on file at the Securities and Exchange Commission. -0-