LAS VEGAS, Feb. 25, 2016 (GLOBE NEWSWIRE) -- Transnational Group, Inc. (“Transnational”) (OTC:TAMG) today announced that Martin Katz will retire from his position as the Company’s Chief Financial Officer (CFO) and Board member, effective February 26, 2016. Chief Operations Officer Israel Gamliel will take over all duties performed by Mr. Katz in the interim period while the Company conducts an executive search for its new CFO.
Mr. Katz joined Transnational Group in 2013 when he was appointed as the Company’s CFO and a member of its Board of Directors.
He played an integral part in the Company’s growth and acquisitions.
The Company’s CEO, Dr. Philip Dutoit, commented, “Martin has served as a key member of Transnational’s management team for several years, playing a significant role in our company’s progress to date. He will continue his association with Transnational Group in a business and financial consulting capacity. Mr. Katz’s leadership efforts during his tenure have helped establish a solid foundation upon which we believe Transnational Group’s business and shareholder value will steadily grow moving forward.”
“He will be missed by our executive team, which has already begun diligently working to find the best candidate to assume the role of our CFO. During this process, we have complete confidence in the abilities of Israel Gamliel to assume Martin’s corporate responsibilities,” added Dr. Dutoit.
Martin Katz stated, "I am grateful to have been able to work with such a talented and driven executive team and look forward to maintaining my association with the company. I am very proud of what we have accomplished at Transnational and excited about the Company’s future growth and prospects.”
Prior to joining Transnational Group, Martin Katz served as the Chief Financial Officer of multiple entities ranging from start-ups to holding companies in industries including international distribution, production and post-production. Mr. Katz has also worked as Finance Director for three major Presidential candidates and managed tax, business and finance matters while serving on the staff of New York Senator Daniel P. Moynihan.
About Transnational Group, Inc.
Transnational Group is a mineral and natural resource exploration company focused on acquiring and mining mineral-rich assets in the Western United States. The Company’s mission is to acquire properties rich in high-grade gypsum and other minerals that have the potential for long-term production and sustainable revenue generation. Transnational is continuously exploring strategic acquisition, partnership and joint venture opportunities that can increase its capital, equipment, and natural resource assets.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. All statements, trends analysis, and other information contained in this memorandum including words such as “anticipate,” “believe,” “plan,” estimate,” “expect,” and “intend” and other similar expressions of opinion, constitute forward looking statements. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond Transnational’s control.
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Source:Transnational Group, Inc.