Green Globe International, Inc. Announces New Corporate Focus, Management Transition and Plans for the Green Globe Brand
13 September 2010 - 3:15PM
Green Globe International, Inc. (Pink Sheets:GGII) today issued
comments from management, outlining the current focus of
management's plans to expand the company's reach in the growing
U.S. and international green economy. The comments also address and
correct a recent announcement issued by two former members of the
Board of Directors regarding the make-up of the company's executive
team.
Management will enlist the support of an advisory team that will
oversee a process of evaluating and establishing a current value
for the Green Globe brand, which was acquired by Green Globe
International in 2008, when the company acquired its 88% majority
ownership of Green Globe Limited, a U.K. corporation that owns the
brand.
Since its acquisition of the Green Globe brand, the company has
successfully removed impediments for future growth in the
bourgeoning worldwide green economy. The focus in
sustainability has shifted to measurement and independent
verification, and the Green Globe brand is well positioned with a
rich history dating back to 1993. Under the leadership of
Green Globe International, unauthorized brand use has effectively
been eliminated and conflicting and unclear license/affiliate
agreements around the world have been resolved. An
infrastructure has been created with new license agreements that
tie all brand use directly back to the brand owners. As a
result, Green Globe now has an international sales network and
client base, and is involved with U.S. based programs, such as the
Los Angeles Green Business Certification Program and a joint
venture with Greenopia to provide green business services and
solutions to Greenopia's 25,000 small/medium business
customers.
The company plans to leverage its profile and prominent position
in the global green marketplace to seek out new opportunities and
financial partners and is considering moving the primary operations
of the Green Globe brand back into Green Globe Limited. This
is expected to allow the public company to focus on emerging green
market opportunities in the United States and untapped markets
abroad.
On a management level, the company is assembling an advisory
team with expertise in brand value and enforcement, investment
banking, accounting and auditing, and corporate
governance. CEO and Managing Director Steven R. Peacock has
not submitted his resignation and will remain in that
position. Former Directors Doug Smith and Gary Nerison will no
longer serve on the company's Board. Jeffrey M. Garrison, CPA
of FiscallyGreenSM, who has served as Consultant Chief Financial
Officer for the company, is expected to be among the appointees to
the advisory team. From 2002 through 2009, Mr. Garrison served
as President of the internationally recognized certified public
accounting firm Stonefield Josephson.
"Mr. Garrison's background as a CPA and senior executive with a
high profile certified public accounting and corporate advisory
firm will be invaluable as the company seeks to establish the value
that has been created in the Green Globe brand over the last
several years and explore new potential opportunities for
affiliations, acquisitions and financial partners in the green
space," said Mr. Peacock.
"The focus on establishing the current value of the Green Globe
brand as a company asset and pursuing new opportunities in the
green economy, both for the brand and outside of it, is expected to
better serve our public company shareholders, who have seen a great
deal of Green Globe activity around the world, but very little in
revenues back to the company. The new direction is expected to
change this through the establishment of asset value, brand
enforcement with current licensees, the potential for the
acquisition of additional assets, and the pursuit of
revenue-generating investments and operations," Mr. Peacock
added.
The company encourages all shareholders and others interested in
following the progress of the Green Globe brand to subscribe to
receive email alerts whenever new information is made
public. To subscribe, please visit
http://www.greenglobeint.com/stayconnected/email/.
About Green Globe International, Inc.
Green Globe International, Inc., through its 88% majority
ownership in Green Globe Ltd., a U.K. corporation, is the worldwide
owner of the Green Globe brand, the recognized leader of
sustainability certification and benchmarking programs, carbon
footprint calculation and offset programs, and a broad range of
consulting services. Green Globe
International is an affiliate member of the United Nations World
Tourism Organization and the World Travel & Tourism Council
(WTTC), the business leaders' forum for the travel and tourism
industry, is a major shareholder of Green Globe
International. For more information on the company and its
programs, please visit www.greenglobeint.com or call
888-528-0883.
For information on Green Globe Certification, please visit
www.greenglobe.com. To see sustainable travel options, please
visit www.greenglobe.travel.
The Green Globe International, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6582
Safe Harbor Statement
This release contains forward-looking statements with respect to
the results of operations and business of Green Globe
International, Inc., which involves risks and uncertainties. The
Company's actual future results could materially differ from those
discussed. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to
the "Safe Harbors" provision of the Private Securities Litigation
Reform Act of 1995.
CONTACT: Green Globe International, Inc.
Public Relations and Communications
888-528-0883
corporate@greenglobeint.com
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