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Fortress International Group Announces Changes; Anthony Angelini Named CEO and Director; Thomas P. Rosato Appointed Chairman; Peter Woodward Named Director

Fortress International Group, Inc. (Other OTC: FIGI) today announced that it has appointed Anthony Angelini CEO and a Director, effective January 3, 2012. Mr. Angelini replaces Thomas P. Rosato, who will remain with the Company as non-executive Chairman of the Company's board of directors. John Morton, Fortress' outgoing Chairman, will serve as an advisor to the Board through the first quarter of 2012 to assist with the transition.

Additionally, the Company announced that Messrs. William L. Jews and Asa Hutchinson have resigned from the Board of Directors. The three directors resigned in agreement with the management changes announced today and the strategic direction set out for Fortress' new management team. Peter Woodward, founder and President of MHW Capital Management, joins the Board and will serve as Chairman of the Audit Committee. The Company has commenced a search for an additional independent Director to fill the remaining vacancy on the Board.

"I am thrilled to welcome Anthony to the Fortress executive team and Board of Directors. He has assisted us for the past several months as a consultant, and has already made a number of meaningful contributions toward our operations, business development strategy and overall corporate direction," said Thomas P. Rosato. "Anthony joins the Company with over two decades of management and operational experience, and I look forward to working with him in my new role as Chairman to help advance Fortress to the next level of growth and success. I also would like to welcome Peter to our Board. He is very familiar with our company and industry and his capital markets experience will prove invaluable as we work toward the continued improvement of our business."

Posted-In: News Management

 

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