FOR IMMEDIATE RELEASE
Bharvirkar Transitions to Chairman of the Board for GLOBAL VR
September 10, 2004 -- San Jose, CA -- – GLOBAL VR® today announced that Milind Bharvirkar, founder, CEO, and President of GLOBAL VR will immediately assume the role as Chairman of the Board of the Company. It will be his responsibility to work with the executive staff to help develop the strategic direction for GLOBAL VR. He will continue to exercise his experience by providing insight into the industry, acting as counsel to the company, and being the external spokesperson for GLOBAL VR.
Milind’s ascension to the Chairman’s role is part of a planned progression for GLOBAL VR as it goes through this phase of rapid growth. Alleviating the day-to-day operating responsibilities will allow him to focus on the strategic direction of the company and continue to drive the resurgence of the coin-op industry he initiated. In the interim, an Office of the President will be established with members of the Board of Directors to lead the internal operations of the company.
When asked to comment, Milind stated, "I am looking forward to assuming the role of Chairman of the Board. Those who know me, know how passionate I am about the coin-op industry and GLOBAL VR. I feel fortunate to move into a role that allows me to focus on the vision of the company and the industry." He went on to comment, "Over the past seven years, GLOBAL VR has assembled one of the strongest teams in the industry. This company has that rare chemistry for making great coin-op games. People have not seen the best from GLOBAL VR yet. This company has a promising future and, most importantly, a commitment to revitalizing this industry.”
Pat Imeson, Calim Equity Partner and lead investor in GLOBAL VR said about the change in role, “We are extremely pleased by the progress GLOBAL VR has made over the past several years. This success is due in large part to Milind’s hard work, perseverance and vision for the coin-op industry.” He went on to state, “2004 is another banner year for the company with several significant and very exciting new product introductions which confirm that the company is right on track. We look forward to Milind’s continued leadership of the company in this new role.”
For further information please contact:
Phone: (408) 597-3400 ext: 2409
Fax: (408) 597-3431
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