Fortress International Group Appoints Maura A. McNerney as Chief
Financial Officer
COLUMBIA, Md.,
May 15, 2013 /PRNewswire/
-- Fortress International Group, Inc. (Other OTC: FIGI)
announced today that it has appointed Maura
A. McNerney as Chief Financial Officer effective
May 20, 2013. Ms. McNerney replaces
Ken Schwarz, who is resigning as CFO
effective May 17, 2013 for personal
reasons. Mr. Schwarz will remain with the company in another role
until August 23, 2013.
Ms. McNerney was previously Vice President, Chief Financial
Officer and Treasurer of Hampshire Group, Limited (OTC: HAMP). Ms.
McNerney returned to Hampshire in August
2011 after leaving to pursue other interests in July 2009. During her time away from Hampshire,
she served as Vice-President, Corporate Controller of Centerplate
and then Chief Financial Officer of Spartan Foods of America.
During her original five year tenure at Hampshire, she served in
several roles, including Vice-President of Accounting and Reporting
and Chief Accounting Officer. Prior to working at Hampshire, Ms.
McNerney was an audit manager with Deloitte & Touche. Ms.
McNerney is a certified public accountant and chartered global
management accountant. She will be located in the company's
Columbia, Maryland
headquarters.
"I am excited to have Maura join our team and continue to
support the improvements we have made the past year as we execute
our growth plans. She will be an integral part of our management
team as we continue to improve our execution and extend our market
reach both vertically and geographically," said Anthony Angelini, Chief Executive Officer of
Fortress. "I would also like to thank Ken for his contributions to
Fortress the past eight months and wish him all the best for the
future."
Commenting on her new position, Ms. McNerney added, "Joining
Fortress at this time is very exciting. I am pleased to become a
part of a strong management team who is focused on the
strengthening and growth of this company."
In connection with her appointment as CFO, Ms. McNerney
received a stock option to purchase 200,000 shares of Fortress
common stock. All of the independent directors of Fortress approved
this grant, which was not made under any compensation plan approved
by Fortress' stockholders. The exercise price per share for these
stock options is equal to the average of the high and low bid
prices for Fortress' common stock reported daily on the OTCQB
marketplace during the 20 trading days following the grant date.
These stock options become exercisable in installments as follows
(1) 50,000 shares become exercisable on the first anniversary of
the grant date, (2) 50,000 shares become exercisable on the second
anniversary of the grant date, and (3) 100,000 shares become
exercisable on the third anniversary of the grant
date.
About Fortress International Group,
Inc.
Fortress International Group, Inc. is leading
mission-critical facilities into a new era of maximum uptime and
efficiency. Fortress provides consulting and engineering,
construction management and 24/7/365 site services for the world's
most technology dependent organizations. Serving as a trusted
advisor, Fortress delivers the strategic guidance and pre-planning
that makes every stage of the critical facility lifecycle
more efficient. For those who own, lease or manage
mission-critical facilities, Fortress provides innovative
end-to-end capital management, energy, IT strategy, procurement,
design, construction, implementation and operations solutions that
optimize performance and reduce cost.
Fortress International Group, Inc. is headquartered in
Maryland, with offices throughout
the U.S. For more information, visit:
www.thefigi.com or call
888-321-4877.
Fortress International Group, Inc. -- setting a new standard
for the optimized critical facility.
Forward Looking Statements
This press release may contain "forward-looking statements"
-- that is, statements related to future -- not past -- events,
plans, and prospects. In this context, forward-looking statements
may address matters such as our expected future business and
financial performance, and often contain words such as "guidance,"
"expects," "anticipates," "intends," "plans," "believes," "seeks,"
"should," or "will." Forward-looking statements by their nature
address matters that are, to different degrees, uncertain.
Particular uncertainties that could adversely or positively affect
the Company's future results include: the Company's reliance on a
significant portion of its revenues from a limited number of
customers; risks relating to operating in a highly competitive
industry; actual or potential conflicts of interest between the
Company and members of the Company's senior management; risks
relating to rapid technological, structural, and competitive
changes affecting the industries the Company serves; the
uncertainty as to whether the Company can replace its backlog;
risks involved in properly managing complex projects; risks
relating to the possible cancellation of customer contracts on
short notice; risks relating to our ability to continue to
implement our strategy, including having sufficient financial
resources to carry out that strategy; risks relating to our ability
to meet all of the terms and conditions of our debt obligations;
uncertainty related to current economic conditions and the related
impact on demand for our services; and other risks and
uncertainties disclosed in the Company's filings with the
Securities and Exchange Commission, including the Annual Report on
Form 10-K for the fiscal year ended December
31, 2012. These uncertainties may cause the Company's actual
future results to be materially different than those expressed in
the Company's forward-looking statements. The Company does not
undertake to update its forward-looking statements.
SOURCE Fortress International Group, Inc.
