John D. Burroughs, co-founder and current president of Cascade Designs, Inc., announced today that at the next CDI annual meeting of shareholders he will nominate Lee Fromson, currently CEO and vice-president, to president effective in May 2002. Burroughs will fill a new post, Chief Software Architect; he remains the major shareholder and chairman of the Board of Directors for Cascade Designs and President of Cascade Designs, Ltd., a fully owned subsidiary in Ireland.
Fromson says "bye bye" to Cascade Designs, Burroughs assumes president's role
It's been a tumultuous six months internally for the folks at Cascade Designs (CDI), largely a result of a revision of the CDI Employee Stock Bonus Plan (ESBP) which left company founder John Burroughs holding approximately 96 percent of the company shares. As a result, several ...read more