Universal Guardian Appoints Dr. Kenneth Merchant to Its Board of Directors and Chairman of Audit Committee
13 Juli 2006 - 4:00PM
PR Newswire (US)
NEWPORT BEACH, Calif., July 13 /PRNewswire-FirstCall/ -- Universal
Guardian Holdings, Inc. (OTC:UGHO) (BULLETIN BOARD: UGHO) , an
emerging global leader in non-lethal tactical products, global
supply chain visibility and security, and strategic security
services to protect governments and industries against criminal,
terrorist, and security threats, today announced that it has
appointed noted financial industry leader Dr. Kenneth Merchant to
Universal Guardian Holdings' Board of Directors and Chairman of its
Audit Committee. "Dr. Merchant has served as a valued business
advisor to some of the world's largest corporations and currently
serves as Deloitte & Touche LLP Chair in Accountancy at the
University of Southern California. Dr. Merchant also currently
teaches in USC's Executive MBA and Global Executive MBA programs
and is the ethics coordinator for USC's undergraduate accounting
program," stated Michael Skellern, Chief Executive Officer of
Universal Guardian. "As a rapidly expanding Global Risk Mitigation
Company, we are fortunate to have such a distinguished gentleman in
international business, finance and accounting as a member of
Universal Guardian's Board of Directors as well as chairman of our
Audit Committee," continued Mr. Skellern. Dr. Merchant has served
as Senior Associate Dean - Corporate Programs in USC's Marshall
School of Business (2003-04) and as Dean of USC's Leventhal School
of Accounting (1994-2001). Professor Merchant is also a research
professor (part-time) at the University of Maastricht (the
Netherlands). Before joining USC in 1990, and he previously taught
at Harvard University (1978-1990) and the University of California
at Berkeley (1976-77). Dr. Merchant was a department controller at
Texas Instruments, Inc. and a senior consultant with Ernst &
Ernst (now Ernst & Young). He has also worked as a freelance
consultant/teacher for many organizations, including Amgen, Arco,
AT&T, British Airways, Campbell Soup, Digital Equipment, IBM,
McGraw-Hill, Novellus Systems, Philip Morris International,
Tektronix, Toyota U.S.A., and World Bank. He is currently serving
as a director of Diagnostic Products Corporation (NYSE:DP) and WL
Homes LLC. Professor Merchant's current research projects are
focused on various issues related to the design and effects of
performance measurement/evaluation/incentive systems and corporate
governance systems. He has published eight books, including
Accounting: Text and Cases (2004), Management Control Systems:
Performance Measurement, Evaluation and Incentives (2003),
Rewarding Results: Motivating Profit Center Managers (1989), and
Fraudulent and Questionable Financial Reporting: A Corporate
Perspective (1987), as well as numerous journal articles and
teaching cases. Professor Merchant won the American Accounting
Association's (AAA's) awards for Notable Contributions to both the
Behavioral Accounting (2004) and Management Accounting Literatures
(1991-92), the AAA Outstanding Service Award (2003), and the
Institute of Management Accountants' Lybrand Gold Medal Award (best
paper of the year published in Management Accounting) (1989-90). He
is currently a member of the editorial boards of eight academic
journals. Professor Merchant has served as president of three AAA
sections: Accounting Program Leadership Group; Management
Accounting; and Accounting, Behavior and Organizations. He is a
current member of two committees of the American Institute of
Certified Public Accountants (AICPA): the Business and Industry
Executive Committee and the Private Company Enhanced Business
Reporting Task Force. Professor Merchant is a graduate of Union
College (BA), Columbia University (MBA), and the University of
California, Berkeley (PhD) and is a Certified Public Accountant
(Texas). About Universal Guardian Holdings Universal Guardian
Holdings, Inc. (UGHO) and its subsidiaries provide a comprehensive
range of security products, systems, and services designed to
mitigate terrorist and security threats worldwide. Universal
Guardian's global risks mitigation group includes strategic and
tactical security services, integrated and interoperable asset
identification, monitoring and management systems for government
and industry. Universal's non-lethal products include escalating,
non-lethal, everyday use-of-force tools for law enforcement,
military, professional security and consumer markets. Universal
Guardian companies features a wide variety of applications that
provide cost-effective, end-to-end solutions and critical security
services for government and multi-national businesses from
operations on every continent. http://www.universalguardian.com/
About Universal Guardian Products Universal Guardian's Product
Group develops and produces safe and effective non-lethal products
and systems that provide law enforcement, military, professional
security and consumers with immediate offensive and defensive
escalating use-of-force options for several threat environments.
The Company's patented Cobra StunLight(TM) "Stops Suspects in their
Tracks" and its Riot Defender(TM) launches patented non-lethal
RiotBall(TM) projectiles to assist law enforcement and military
personnel in the control civil disturbances and dangerous riots.
http://www.shielddefense.com/ About Universal Guardian Systems
Universal Guardian's Systems Group, ISR Systems Corporation,
provides Asset Identification, Monitoring and Management platforms
for a multitude of government and industry applications worldwide.
UG Systems' integrated T/3 Platform(TM) and RFID Ready(TM) system
provides secure end-to-end asset monitoring and management with
real-time visibility and security for customers, shippers and
government regulatory agencies. http://www.isrsystems.com/ About
Universal Guardian Services Group Universal Guardian's Services
Group, Secure Risks - SSSI provides practical risk management
solutions, insured security services and tactical security services
to protect critical infrastructure and valuable assets for
governments, non-governmental agencies and multi-national
businesses in today's most challenging environments from regional
hubs located in the United States, United Kingdom, Europe, South
America, Middle East, Africa, Central Asia and Asia Pacific.
http://www.securerisks.com/ Safe Harbor Statement: This news
release contains certain forward-looking statements pertaining to
future anticipated projected plans, performance and developments,
as well as other statements relating to future operations and
results. Any statements in this news release that are not
statements of historical fact may be considered to be
forward-looking statements. Written words such as "may," "will,"
"expect," "believe," "anticipate," "estimate," "intends," "goal,"
"objective," "seek," "attempt," or variations of these or similar
words, identify forward-looking statements. These statements by
their nature are estimates of future results only and involve
substantial risks and uncertainties, including those detailed from
time to time in Universal Guardian Holdings, Inc.'s reports filed
with the Securities and Exchange Commission. There can be no
assurance that actual results will not differ materially from
expectations. These risks factors include potential customer
interest in the sale and delivery of its SeaPort Guardian(TM),
Container Guardian(TM), Explosive Guardian(TM) and SupplyChain
Guardian(TM) systems as well as the production and sale of Cobra
StunLight(TM) and Riot Defender(TM) and their accessories. Further
information is available on the Company's website:
http://www.universalguardian.com/ Investor Relations Contact:
Company Contact: Investor Relations Michael J. Skellern, CEO
Universal Guardian Holdings, Inc. Universal Guardian Holdings, Inc.
4695 MacArthur Court, Suite 300 4695 MacArthur Court., Suite 300
Newport Beach, CA USA 92626 Newport Beach, CA USA 92626 + 1 949.
861.8295 ext. 211 + 1 949. 861.8295 DATASOURCE: Universal Guardian
Holdings, Inc. CONTACT: Investor Relations, ext. 211, or Michael J.
Skellern, CEO, both of Universal Guardian Holdings, Inc., +
1-949-861-8295 Web site: http://www.shielddefense.com/ Web site:
http://www.isrsystems.com/ Web site: http://www.securerisks.com/
Web site: http://www.universalguardian.com/
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