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Two join Midway Board of Directors
by Jolex Del Pilar
Tuesday, January 6, 2004
Pair will bring vast experience to company.
Midway Games Inc. announced today the appointments of Robert N. Waxman, CPA, 67, and Jay N. Whipple III, 47, as two new independent Board directors, effective December 31, 2003. Mr. Waxman also joins the Board's Audit Committee. The addition of Messrs. Waxman and Whipple brings the total number of directors on the Company's Board to eleven, nine of whom are independent.
Mr. Waxman brings over 45 years of financial, public accounting and consulting expertise to the Midway Board. He is presently a Principal of Corporate Finance Advisory, a New York-based consulting firm providing advice on complex accounting matters, auditing, financial disclosure, SEC compliance and corporate finance to investment bankers, lawyers, investors, CPA firms and board members. Waxman is also a consultant to LECG Corporation (NYSE: XPRT) which provides expert economic testimony and other advisory services to attorneys, government agencies and corporations.
Midway Games’ Chairman, Neil D. Nicastro, stated, "Robert brings a wealth of valuable public company accounting and financial experience to our Board, and we look forward to his future counsel and contributions and as a member of our Audit Committee. Robert has experience with the Sarbanes-Oxley Act and was a recent conference speaker on Internal Controls under Section 404. We welcome this experience into our organization."
Earlier in his career, Mr. Waxman held positions as Partner-in-Charge of Financial Services Programs at Deloitte & Touche LLP and Partner-in-Charge of the Financial Services Group and as a Partner in the Executive Office of Touche Ross & Co., prior to its merger with Deloitte, Haskins & Sells in 1989. He was a partner and National Director of SEC Practice at J.K. Lasser & Co., CPAs from 1962 to 1977 when Lasser merged with Touche Ross & Co.
Mr. Whipple began his career as president of Security APL, Inc., a provider of portfolio tracking and performance measurement, which he founded in 1978. He sold Security APL, Inc. to CheckFree Corporation in 1996. Today, he is president of J.N. Whipple, Inc., a money management firm, and chairman of Osprey Partners, LLP, a provider of portfolio tracking software. Whipple has also served as a board director of Nasdaq-listed Corillian Corporation since 1997 and is currently chairman of Corillian’s audit committee.
Mr. Nicastro, stated, "Jay has a very impressive entrepreneurial background, and we are very pleased to welcome him to the Midway Games Board. He brings a unique perspective to our Board based on his career in the software industry, and he is also well versed in corporate governance matters given his years of relevant board and audit committee experience with Corillian."
--- Jolex Del Pilar |
