WOODSTOCK, Ga., July 11, 2012 (GLOBE NEWSWIRE) -- GBS Enterprises
Incorporated (OTCBB:GBSX), a global software and services company
specializing in Application Modernization and Cloud Automation
solutions, today announced the appointment of Gary MacDonald, EVP and
Chief Corporate Development Officer of GBS Enterprises, as Managing
Director of Worldwide Operations and Interim CEO. Mr. MacDonald
replaces Mr. Joerg Ott, Chairman and CEO, who is stepping down for
personal reasons effective July 11, 2012. Mr. Ott will remain Chairman
of the Board.
The GBS Board has agreed to immediately begin a search for an
experienced CEO to take the Company to the next level. While Mr.
MacDonald is acting as Interim CEO, the Board and Mr. Ott will search
for Mr. Ott's permanent replacement. Mr. MacDonald has been with the
Company for 7 years, has been the primary liaison with the investment
community, and has a full understanding of all corporate operations.
Mr. Ott said, "The Company has entered into a new phase of growth with
robust trans-Atlantic operations which require full time attention.
Personal reasons are preventing me from devoting this full time
attention to the Company's operations. Therefore, I have decided to
step down as the CEO of GBS Enterprises."
Mr. MacDonald commented, "On behalf of the board, I would like to thank
Joerg for his contribution as CEO. I look forward to working together
closely as we further develop and establish the strategic direction of
About GBS Enterprises
GBS Enterprises Incorporated (OTCBB:GBSX) is a leader in Application
Modernization Technology, Cloud Services and is the world's largest
provider of expertise for the IBM Lotus Notes/Domino platform. With its
unique capabilities, solutions and services in the Lotus Software
environment, it helps customers assess and evaluate their current Lotus
infrastructure and application environment, formulate their strategic
technology and operational goals, and implement solutions on-premise or
on the cloud that meets their current and future business needs.
Caution Concerning Forward-Looking Statements
This release contains statements that may constitute "forward-looking
statements" under the Private Securities Litigation Reform Act of 1995.
These statements regard the intent, belief, and expectations of the
Company. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance,
they involve risks and uncertainties, and their results may differ
CONTACT: Investor Relations Contact:
Alliance Advisors, LLC
Alan Sheinwald, Founder and President
Gary MacDonald, EVP and