IRVINE, Calif., March 19 /PRNewswire-FirstCall/ -- DynTek, Inc. (OTC Pink Sheets: DYNK), a leading provider of professional technology services, today announced that Casper Zublin, Jr. has resigned as CEO, effective March 31, 2008. As part of his transition, he will continue to act in an advisory role as a member of the Board of Directors.
IRVINE, Calif., March 19 /PRNewswire-FirstCall/ — DynTek, Inc. (OTC Pink Sheets: DYNK), a leading provider of professional technology services, today announced that Casper Zublin, Jr. has resigned as CEO, effective March 31, 2008. As part of his transition, he will continue to act in an advisory role as a member of the Board of Directors.
The company also announced it has appointed Ron Ben-Yishay President and Chief Operating Officer, effective immediately. In this role, Ben-Yishay will direct the strategic and day-to-day operations of the company across all areas including sales, finance, marketing and operations. Ben-Yishay previously served as the company's East Area Vice President for 10 years. In this role, he grew his region from $10 million to $55 million in annual sales, while maintaining profitability every quarter.
"Casper has been a strong and effective leader and instrumental in positioning the company for success," said Mike Gullard, DynTek's chairman of the board. "In the time he served as CEO, Casper has built an impressive legacy. He helped the company reach 7 consecutive quarters of EBITDA positive results, affected a capital restructuring, closed three successful acquisitions and grew the company from $76 million to $110 million in annual sales. We look forward to his continued insight in his advisory role."
"The last few years at DynTek have marked some of the most challenging, yet rewarding of my career," said Zublin. I'm proud of what the team has been able to accomplish over the last two years and I believe the company is now well positioned for profitable growth. I strongly believe DynTek's next objectives require new leadership with the ability to create a strong sales culture and efficient field operations. Ron Ben-Yishay is an extremely talented sales executive and I know he is the right leader to take the company into its next phase. Over the past few years we have focused on implementing a turnaround and in developing our internal business platforms. Now, under Ron's leadership, the focus will be to create a unified sales-driven culture with industry standard profitability and cash flow. He has proven he can create and maintain a profitable operating structure, and he will be charged with extending it to all areas of the company."
"I am a strong believer in DynTek, our capabilities and our team," said Ben-Yishay. "In this new role, I look forward to tackling our challenges directly and finding additional ways to replicate our success across regions. My focus will be on driving strong organic growth through greater sales effectiveness at all levels, driven from enhanced support and accountability. In addition, I am striving to create a lean, yet effective, operating structure. We have already begun implementing a cost control plan that will reduce our expenses by over $3.2 million annually. We expect to see benefits from these changes in our results next quarter."
DynTek is a leading provider of professional technology services to mid-market companies, such as state and local governments, educational institutions and commercial entities in the largest IT markets nationwide. DynTek provides a broad range of IT security, unified communication, virtualization, Microsoft Information Worker, and application infrastructure and delivery solutions. DynTek's multidisciplinary approach allows our clients to turn to a single source for their most critical technology requirements. For more information, visit http://www.dyntek.com.
Forward Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors. Such uncertainties and risks include, among others, success in reaching target markets for services and products in a highly competitive market and the ability to maintain existing and attract future customers; our ability to finance and sustain operations, including our ability to comply with the terms of working capital facilities and/or other term indebtedness of DynTek, and to extend such obligations when they become due, or to replace them with alternative financing; our ability to raise equity capital in the future; our ability to achieve profitability despite historical losses from operations; our ability to maintain business relationships with IT product vendors and our ability to procure products as necessary; the size and timing of additional significant orders and their fulfillment; the continuing desire of and available budgets for state and local governments to outsource to private contractors; our ability to successfully identify and integrate acquisitions; the retention of skilled professional staff and certain key executives; the performance of DynTek's government and commercial technology services; the continuation of general economic and business conditions that are conducive to outsourcing of IT services; and such other risks and uncertainties included in our Annual Report on Form 10-K filed on October 29, 2007, our Quarterly Report on Form 10-Q filed on November 19, 2007 and other SEC filings. DynTek has no obligation to publicly revise any forward-looking statements to reflect anticipated or unanticipated events or circumstances occurring after the date of such statements.
SOURCE DynTek, Inc.