Business Services Industry
Mrs. Fields Cookies Co-Founder Names Industry Expert, Thomas W. Wilson, Jr., to Fields Technologies' Board of Directors
Business Wire, August 28, 2001
Business Editors & High-Tech Writers
PARK CITY, Utah--(BUSINESS WIRE)--Aug. 28, 2001
Fields Technologies, Inc. (OTCBB:FLDT) today announced that Thomas W. Wilson, Jr., currently a director of Information Resources, Inc. (Nasdaq:IRIC) and chairman and a director of Productivity Solutions, Inc., has joined the Board of Directors of Fields Technologies, Inc.
"Tom Wilson is a respected industry expert with substantial business experience in our market segment," notes CEO and President of Fields Technologies, Inc., Randall K. Fields. "We especially value his distinguished contributions to the formation of product coding standards in the grocery and general merchandising industries while he was at McKinsey & Company. Fields Technologies hopes to significantly benefit from his many industry relationships and his broad experience as we attempt to improve our products and increase our market penetration and revenues."
"I have had the opportunity to review the Fields Technologies product offerings. Both Fresh Market Manager and ActionManager represent software built by people who are clearly familiar with their customers' key business processes and experienced in how to improve upon them," says Wilson. "I am convinced that these products will make major contributions to the Company's efforts to build its market position."
Information Resources, Inc. is a Chicago-based provider of point-of-sale information based business solutions to the consumer packaged goods industry. Wilson joined IRI's board in 1991 following his retirement from McKinsey & Co., an international management-consulting firm. While at IRI, he served as Chairman of the Board of Directors from 1995 to 1999 and also served as interim CEO in 1998-99. Wilson is also currently a director and the chairman of Productivity Solutions, Inc., a Jacksonville, Florida, builder of customer self-checkout point-of-sale equipment.
Mr. Wilson joined McKinsey & Co. in 1966, was elected a partner in 1968 and a senior partner in 1972. During his McKinsey career, he served a wide range of clients in the U.S. and abroad, but the bulk of his work was in the field of consumer packaged goods manufacturing and grocery retailing. He led the firm's consumer goods marketing practice group for twenty years. He directed McKinsey's work with the U.S. grocery industry's Ad Hoc Committee to develop the Uniform Product Code and was a founding member of the VICS Committee, which established similar standards for the general merchandise industry. He played a major role in the establishment of a standard industry method for calculating direct product profitability (DPP). Before joining McKinsey, Mr. Wilson held various positions in the brand management department of Procter & Gamble's soap and detergent products division.
Mr. Wilson is a graduate of Dartmouth College and holds an MBA degree from the Wharton School of the University of Pennsylvania.
Fields Technologies, Inc. (OTCBB:FLDT) is a publicly traded holding company, which files periodic reports with the Securities and Exchange Commission. Fields Technologies, Inc. has one operating subsidiary, Park City Group, Inc., a software development company located at 333 Main Street, Park City, Utah 84060, founded by Mr. Fields in conjunction with his involvement in the operation of Mrs. Fields Cookies (which he co-founded). Park City Group, Inc. had audited revenues of $6,513,142 for the year ended December 31, 2000, on which it derived pre-tax profits of $2,386,341. Its current clients include such companies as: The Home Depot, Victoria's Secret, Pacific Sunwear of California, The Limited, Crate & Barrel, Bath & Body Works, Busch Entertainment, Winn-Dixie, Williams-Sonoma, Wawa, Sheetz, Boots The Chemists and Tesco-Lotus (part of one of the world's largest retailers).
For additional information, contact Charles J. Scimeca at (561) 998-3435 (voice); (561) 998-4635 (fax); info@fieldstechnologies.com (e-mail) or please visit the website http://www.fieldstechnologies.com
This release is comprised of inter-related information that must be interpreted in the context of all the information provided; accordingly, care should be exercised not to consider portions of this release out of context. This release is provided in compliance with Commission Regulation FD and contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumption or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could", or "might" occur. Such statements reflect the current views of Fields Technologies with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of the underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed or expected. Fields Technologies does not intend to update these forward-looking statements prior to announcement of quarterly or annual results.
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