Audiotech Healthcare Corp.'s board of directors, in conjunction with its annual review of its corporate governance policies, has appointed Darryl Walker to the position of chief financial officer. Osvaldo Iadarola, who has held the positions of both chief executive officer and CFO since the corporation's inception, will be stepping down from his position as CFO. Mr. Iadarola will remain as the company's CEO. The board of directors felt that as the company embarks on its next phase of growth, and in the interest of meeting emerging new standards of corporate governance for Tier 1 companies, that the roles of CEO and CFO should be separated.
Mr. Walker has served as Audiotech's marketing and systems co-ordinator and assistant to the president since January, 2000, and also as the company's corporate secretary since 2003. Having been involved on a daily basis in the planning, implementation and upgrade of the company's management information and patient database software/hardware systems; the administration of clinic and corporate leasing functions; the financing and construction of new clinics; the administration of regulatory filings; and the preparation of strategic business and marketing plans for the corporation, Mr. Walker has intimate knowledge of all of the corporation's business activities. He has also been instrumental in the financing of the corporation since its inception.
Commenting on the appointment, Mr. Iadarola stated: "I am very pleased that the board of directors has appointed Darryl to the position of CFO. Darryl's diverse background in sales and finance make him an ideal candidate to oversee Audiotech's financial position through our next phase of growth. Furthermore, the separation of the duties of CEO and CFO is important to ensure that the investment community understands our commitment to the best practices of corporate governance."
Prior to joining Audiotech, Mr. Walker held a number of managerial positions in the mortgage and finance field, as well as management positions in the office equipment and security industries.
Mr. Walker will report directly to the audit committee of the board of directors.