SmarTire Changes Focus to OE Level from Aftermarket (October 25, 2002)

SmarTire Systems Inc., a developer of tire pressure and temperature monitoring technology, has announced changes to its executive management team in response to a change in the company’s market focus.
The company says that it will be increasing market focus at the OE level, rather than trying to develop the aftermarket channel.
Jeff Finkelstein has been promoted to the position of chief financial officer. He will be responsible for all financial and related functions for SmarTire including finance, treasury, accounting, taxation, legal, management information systems and administration. Finkelstein has been with SmarTire since 1999 in the role of Controller and has been Acting Chief Financial Officer since May 2002. He is a Canadian Chartered Accountant with seventeen years of experience including eight years as Controller of Nasdaq and Toronto Stock Exchange listed companies. He also holds a Bachelor of Commerce degree and a Bachelor of Arts degree from the University of Manitoba.
The SmarTire (Europe) Inc. office has been restructured to aggressively capitalize on emerging market opportunities especially with European original equipment manufacturers. Emphasis is now being placed on business development and growth of new product lines as opposed to aftermarket channel development. These strategic changes required a realignment of the managing director’s duties and responsibilities that has resulted in the resignation of Ian Bateman as director of SmarTire’s U.K. subsidiary. To direct the daily operations of SmarTire (Europe) Inc., the new position of general manager has been created and Nigel Hammond, U.K. business development manager, has assumed this role on an interim basis.
One additional change is the resignation of Bernard Pinsky from SmarTire’s Board of Directors. Pinsky, a partner in the Vancouver law firm of Clark, Wilson, will continue to act in the capacity of corporate counsel for the company. SmarTire is taking steps to expand its board of directors to include a majority of outside, independent members.