Writers' Group Chairman & President Resigns Due To Health Concerns, Signs Independent Production Pact
LOS ANGELES, Dec. 3, 2012 /PRNewswire/ -- Writers' Group Film Corp. (OTCQB:WRIT) through its wholly-owned subsidiary Front Row Networks, Inc., a Los Angeles-based concert production and distribution company, announces today that on November 30, 2012, John Diaz resigned from his positions as President and Chairman of the Board of Directors of the company for significant health-related reasons.
Writers' Group's board of directors has established a committee to search for a replacement. In the interim, Eric A. Mitchell, the current CFO of Writers' Group Film Corp. will serve in the additional roles of Chairman of the Board of Directors and President.
"I am proud of what this company has accomplished since its inception over two years ago," said Mr. Diaz. "Writers' Group is on its way to establishing itself as an industry leader in the alternative concert marketplace, and I believe that Writers' Group is well positioned for future success. Although I would like to continue leading our outstanding management team, because of recent changes in my health, I have made the decision to resign," he said. Mr. Diaz has signed a production deal with Writers' Group Film Corp. that will allow him to oversee filmed concert production in an advisory capacity.
"John has been an excellent leader for our company during a very difficult growth period," said Mr. Mitchell. "We appreciate the strong vision and entrepreneurial spirit that John has demonstrated since the launch of the company over two years ago. However, we fully understand, respect and support his decision to resign in light of his health issues. We are fortunate to be able to access his production skills and experience via his newly inked independent production arrangement with the Company. We have a highly experienced and seasoned management team and board of advisors who I am confident will continue to successfully lead Writers' Group during this transition. We want to thank John for all his contributions to our company and wish him a swift return to improved health," concluded Mr. Mitchell.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV