Seven-Member Board Expected to Enhance Decision-Making Efficiency
GAITHERSBURG, MD -- (Marketwire) -- 10/28/08 -- Edgewater Foods International, Inc.
(OTCBB: EDWT), the first fully integrated shellfish producer with the
largest private marine research hatchery in Canada, announced today that
Javier Idrovo, a former executive of the multinational Dole Food Company,
has been elected a director of the Company.
Additional board changes announced include the resignations of Ian Fraser,
chairman of the compensation committee, and Robert Rooks, who both served
on the board for three years. The three changes were effective September
8, 2008.
As a result, Edgewater Foods has compressed its board to a total of seven
directors to become a more efficient and responsive unit. At the same
time, the board gains substantial food industry experience in the person of
Mr. Idrovo to help the Company produce and market new products as well as
grow its ongoing businesses within current markets.
Mr. Idrovo has been involved in the food industry since 2001 when he became
vice president of strategy for Dole Food Company, the world's largest
producer and marketer of fresh fruit and vegetables. In 2004, he was
promoted to senior vice president of strategy. In 2005, he became Vice
President and Chief Financial Officer of Dole Packaged Foods, an operating
division of Dole Food Company, and a year later, was named President of
Dole Packaged Foods, a position he held until March 2008. Prior to
joining the Dole Food Company, he was a management consultant with The
Boston Consulting Group, Inc., holding positions of increased
responsibility. He received both a Bachelor of Science Degree and Master
of Engineering Degree from Harvey Mudd College and a M.B.A. Degree from
Harvard Business School.
Commenting on the director changes, Robert Saunders, Chairman and CEO,
Edgewater Foods International, said, "Javier Idrovo is an outstanding
addition to the board. He brings extensive consumer marketing and branding
experience in the food industry to our board, which will become
increasingly important as we market and distribute our shellfish products
on a wider scale both nationally and internationally."
Mr. Saunders continued, "Ian Fraser and Robert Rooks have made many
meaningful contributions to the board over the past three years. Their
sound business judgment and experience have brought a valuable prospective
to the board and we thank them for their dedication and service to
Edgewater Foods."
About Edgewater Foods International, Inc.
Edgewater Foods International Inc., a Nevada Corporation, is the parent
company of Island Scallops Ltd. ("ISL"), a Vancouver Island aquaculture
company. Established in 1989, ISL has successfully operated a scallop
farming and marine hatchery business for almost 20 years.