Avidus Appoints Doug Ridley As CEO And Provides Corporate Update
1/14/2014 6:47:22 AM
Avidus Appoints Doug Ridley as CEO and Provides Corporate Update
VANCOUVER, BC and MESA, AZ, Jan. 14, 2014 /PRNewswire/ - Avidus Management
Group Inc. ("Avidus" or the "Company") (TSXV: AVD) (OTC: ASNHF), today
announced that it has appointed Doug Ridley as Chief Executive Officer
and Director, effective January 15, 2014. Mr. Ridley, who has a
25-year proven track record as a network marketing business leader and
distributor, was appointed President of Avidus in June 2013 to develop
and implement the company's strategic growth initiatives.
Avidus is grateful to co-founder and outgoing CEO Daniel Lundell for his
invaluable contributions to the company. Mr. Lundell will remain as
Chief Operating Officer and as Chairman of Avidus' board of Directors.
Mr. Lundell said, "We have worked very hard to get the company to this
point and I am pleased to have Doug accept the appointment as CEO; his
leadership has been and will be extremely valuable to the company. Our
shared vision for Avidus' future is exciting and I look forward to
increased value for shareholders."
Mr. Ridley has an accomplished career in this industry, having led
another network marketing company, Quorum International, to more than
$125 million annual sales in less than three years with $20 million in
pre-tax profit. As a successful distributor in the functional beverage
space, he headed a network that generated more than $25 million in
annual sales volume.
Doug Ridley, President & CEO, commented: "I am excited to be appointed
as CEO as we embark on fulfilling our vision of transforming Avidus
into a premier company through strategic growth and acquisitions.
Since joining the company as President in June, I am pleased with the
rapid progress we have made on several fronts. In my 25-years in the
industry, I have had the privilege of building successful businesses
based on corporate culture and relationships, proven systems and
quality products. I feel that all of these elements are now in place
as we enter 2014.
The backbone of a successful network marketing business revolves around
a professional and passionate team. I was thrilled to have top network
marketer Erik Cloud join Avidus as network leader in August, and
results thus far have been very positive. In Q4, recruitment was up
50% over Q3 and, in addition, we expanded our network's geographic
reach. In December, Steve and Linda Kampouroglou, extremely
accomplished network marketing professionals based in Florida, joined
Asantae and we anticipate that they will build upon their past
successes. They have most recently built network sales organizations
in the tens of thousands representing tens of millions of dollars in
sales per year.
One of my initial goals for Asantae after joining the company was to
create an exceptional product in the $25 billion US functional beverage
space. In October, we launched IS2, a revolutionary inflammation and immune support nutritional beverage,
which has been received very positively and quickly attracted network
marketers from other well established companies.
Avidus enters the New Year with tremendous momentum and I believe we
will experience significant growth in 2014. We are currently
evaluating a number of strategic acquisitions and anticipate completing
our first transaction in the near term. These businesses will not only
add to our top and bottom line, but will also benefit and grow from our
proven leadership, operational efficiencies and systems."
Avidus Management Group Inc. (TSX-V: AVD, OTC: ASNHF), through its
wholly owned subsidiary, Asantae (www.asantae.com) develops, produces and markets innovative nutritional products through
direct and network marketing channels. The ingredients in Asantae's
products have been shown to reduce chronic low-grade inflammation and
oxidative stress, and support a healthy immune system that, according
to scientific and medical research, are the underlying conditions for
most modern epidemic diseases (diabetes, heart disease, obesity,
This news release may contain forward-looking statements relating to the
Company's operations or to the environment in which it operates. Such
statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
risks and uncertainties that are difficult to predict and may be beyond
the Company's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in the Company's
regulatory filings. In addition, such statements relate to the date on
which they are made and the Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, save and
except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Avidus Management Group Inc.
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