DDi Corp. announces resignation of CEO - Mikel Williams named new CEO
Nov 01, 2005
DDi Corp. (Nasdaq: DDIC) announced that Bruce McMaster, President, Chief Executive Officer and a director of the Company, has resigned from each of those positions, effective immediately. The Board of Directors accepted Mr. McMaster's resignation in each capacity, and appointed Mikel Williams, Senior Vice President and Chief Financial Officer of the Company, as the Company's President and Chief Executive Officer. Mr. Williams will continue to serve as Chief Financial Officer while the Board searches for a new CFO.
Mr. McMaster has served as President of the Company since 1991 and as a Director and Chief Executive Officer since 1997. Before becoming the Company's President, Mr. McMaster worked in various management capacities in the Company's engineering and manufacturing departments. Mr. McMaster indicated his desire to pursue other opportunities.
Jay B. Hunt, Chairman of the Board, stated, "We appreciate Bruce McMaster's commitment and many contributions to DDi over the past 20 years, and in particular his leadership as the Company went through a very challenging period for the market and as DDi went through its bankruptcy restructuring. We wish him well in his future endeavors. We are fortunate to have an experienced executive of Mikel Williams' caliber who can assume the role of CEO. The Board has confidence that he will provide critical experience that the Company needs to implement its strategic and operational goals going forward."
Mr. Williams has served as the Company's Chief Financial Officer since November 2004. Prior to joining the Company, Mr. Williams was Chief Operating Officer of LambdaNet, a pan-European telecommunications company serving the wholesale and large corporate data services market. In this capacity, he was responsible for improving operating performance, implementation of restructuring activities and analysis of strategic alternatives. Prior to this, Mr. Williams held positions of increasing responsibility with Global TeleSystems, Inc., a leading telecommunications company providing data and internet services across Europe's largest fiber based network, where he led data sales, customer service and sales support functions of a division with annual revenues in excess of $400 million and 250 personnel across Europe and in the United States. From 1996 through 2000, Mr. Williams held the position of Vice President, Finance Global TeleSystems, responsible for financial management of operating companies throughout Europe and Asia. From 1985 through 1996, he served successfully in several CFO and Controller positions with companies in the communications and advertising industry. Mr. Williams began his career as a CPA at PricewaterhouseCoopers' Washington, D.C. office in 1980.