Force Energy announced that Rahim Rayani resigned as president, chief executive officer, chief financial officer and as a director of the Company and that Tim DeHerrera has been appointed as president, chief executive officer, chief financial officer and as a director to fill the vacancies effective July 21, 2010.
Mr. DeHerrera has been president, chairman or on the board of directors of several publicly traded and private entities during his career in corporate finance. Most recently he was President of a public company and he facilitated a successful merger of that company that closed in May 2010. Additionally, during the past several years he has been a consultant to numerous companies in oil and gas exploration, technology and credit card financing. Mr. DeHerrera has extensive experience in investment banking, capital formation, capital restructures, private placements, lender negotiations and overall business development.
There were no disagreements between Mr. Rayani, and the Company or the Company's board of directors on any matter relating to our company's operations, policies or practices. The Board of Directors would like to take this opportunity to express their thanks to Mr. Rayani for his advice and support during his time with the Company and wish him well as he pursues new opportunities.
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