Vector Announces New Board Members
24 July 1997
Vector Announces New Board MembersJACKSONVILLE, Fla., July 24 -- Vector Aeromotive Corporation, (OTC Bulletin Board: VCAR) today announced that it has entered into a share purchase agreement with Tradelink International Limited, a private company. As a consequence of the share purchase agreement, Vector has today restructured its Board of Directors to include Tradelink's nominees which will give Tradelink a majority position on the new Board. The new Directors are: W. Randall Welty -- Mr. Welty is a California based entrepreneur with a diverse portfolio of business interests throughout the U.S. Timothy J. Enright -- Mr. Enright is a former Board member of Lotus Cars in the United Kingdom. David P. Kordek -- Mr. Kordek was most recently Director of parts and service operations for Automobili Lamborghini U.S.A. Also, as part of the restructuring, Mr. Sudjaswin E.L., has resigned from the Board of Directors. Mr. Sudjaswin was sincerely thanked for his past support of the company and will remain closely involved with ongoing activities as a consultant to the new Board. Other recent resignations from Vector's Board are also announced today. Resignations have been received from Richard J. Aprahamian and George C. Fencl. The company sincerely thanks them for their past service. The new Board is also pleased to confirm that Michael J. Kimberley and D. Peter Rose will continue to serve the company. Mr. Rose will also retain position as President of Vector. SOURCE Vector Aeromotive Corporation