Global Entertainment Corporation (OTCBB: GNTP) – an integrated event and entertainment company, today announced several decisions related to an internal reorganization as well as the involvement of The Miller Group on a special assignment at the behest of the company’s Board of Directors.
In an effort to streamline the Board process and reduce the company’s cost structure both Michael L. Bowlin and Mark Schwartz voluntarily resigned from the Board of Directors of the company.
Michael L. Bowlin, President and Chief Executive Officer of Bowlin Travel Centers, Inc., stated, “I have appreciated the honor of serving as a member of the Global Entertainment Board of Directors, however, I feel it is in the best interest of the company for me to resign my position as a member of this board and as a result, eliminate the cost to the company associated with my continued membership.” Mr. Bowlin continued, “I wish the best to the company as a whole and plan to make myself available if I can be of any assistance in the future.”
Mark Schwartz, President of G & S Metal Products Company, Inc., stated, “I have always put the interest of Global Entertainment and its shareholders at the forefront and have determined that given the current environment that the company is operating in, a smaller, lower cost and more nimble Board is in the best interest of the shareholders.” Mr. Schwartz emphasized, “I wish both the company and the Board the best of luck.”Also as part of the company’s internal reorganization, the Board of Directors of Global Entertainment elected to eliminate the position of general counsel. In addition, the Board of Directors of the company appointed Steven E. Lee, 53, as Executive Vice President, Chief Administrative Officer and Secretary. Mr. Lee will oversee the company’s administrative and operational functions, including human resources, information technology, legal, contract administration and related areas. Mr. Lee’s background includes serving as a Senior Vice President of Scott Communities, a residential home builder with operations in Arizona and Texas, where his responsibilities included negotiating land acquisitions, vendor contracts and sales contracts, managing forward planning, entitlements and IT functions and overseeing the company’s human resource, warranty and legal issues. Prior to his position with Scott Communities, Mr. Lee was an Associate General Counsel for Avnet, Inc., a Fortune 500 company, where he managed the customer contract department and was responsible for negotiating and preparing a variety of commercial agreements. Mr. Lee is a licensed attorney in the State of Arizona.