LAKE GENEVA, Wis., May 22, 2012 /PRNewswire/ -- Thrive World Wide, Inc. (OTCQB: TWWI.PK) (Pinksheets: TWWI.PK) announced today changes to its management team. Effective as of April 13, 2012, Bruce T. Dugan has been named Chief Executive Officer and a member of the Company's Board of Directors, and James Stearrett has been appointed Chief Financial Officer and Treasurer. Mr. Dugan and Mr. Stearrett replace Wendy Borow Johnson, who has resigned as CEO, President, Treasurer, and Board member. She has agreed to continue to offer her expertise in the areas of marketing and brand expansion on an as-needed basis.
Mr. Dugan is a seasoned entrepreneur and business leader who previously founded and operated transportation and freight logistics companies that served industry leaders such as Dupont, Sumitomo, MSC, and ExhibitGroup. Within the media and entertainment industry, he was a former CEO of a publicly traded media company; founder of a nationally distributed record company; and creator of a film production company that co-produced a documentary that aired on Bravo! TV, as well as an indie film distributed by Pathfinder Home Entertainment. Most recently, Mr. Dugan founded INTECH Creative LLC., a web-centric software developer that specializes in online and mobile tools for social media, business workflow administration, and multi-platform integration.
Mr. Stearrett, a Certified Public Accountant with an MBA, began his career at Deloitte and Ernst Young LLP. Throughout his accounting career, Mr. Stearrett has provided independent services to various publicly-traded, multinational companies. He has managed a variety of projects using SAP and Hyperion; assisted in international consolidation issues; corporate and tax reporting; and been directly involved with FAS 5 and top-down risk-based Sarbanes-Oxley documentation. He is well-versed in all aspects of establishing policies and procedures within the finance department of publicly traded companies.
About Thrive World Wide, Inc.
Thrive World Wide Inc. ("Thrive") is a web-centric multimedia company. Through its wholly owned subsidiary Daily Hot Deal, it has been engaged in the "Deal of the Day" business. For more information, visit http://thriveworldwide.com/.
This news release may contain certain "forward-looking statements" within the meaning of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Thrive World Wide, Inc. are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed under the heading "Risk Factors" and elsewhere in documents filed from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
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