Dennis Carey has been appointed to the Board of Directors of the Composite Technology Corporation (CTC). John Mitola resigned for “personal reasons” and Dennis Carey will be replacing him. Carey has not been involved with CTC in the past so thus “meets the criteria to serve as an independent director.” The board is made up primarily of independent directors (three out of five) so Carey fits the bill perfectly.
Posts Tagged ‘Business’
Dennis Carey Appointment
Friday, October 8th, 2010Dennis Carey and M&A Activity
Wednesday, June 30th, 2010
In his book ‘The Human Side of M&A: How CEO’s Leverage the Most Important Asset in Deal Making,’ Dennis Carey gives advice on merger building:
“You will be building your merger or acquisition on a shaky foundation unless a few critical elements pass muster before the transaction is finalized. Specifically you will need to ensure that:
1. The strategy is sound. Whether the goal is expanding markets, products or consolidation, make sure that M&A is the right solution;
2. There are no skeletons in the closet. Make certain that you are not inheriting any fraud, legal or accounting issues that could spell disaster for any deal. Be diligent about due diligence and;
3. The human capital picture is thoroughly understood. It is critical to follow a separate process that will uncover precisely what you will be getting in your new management team; a picture that will not be fleshed out sufficiently as a result of the normal due diligence process that focuses on financial and legal issues.”