FNDS3000 Corp Announces Major Corporate Restructuring Initiatives to Enhance Growth of Global Prepaid Card Business - Yahoo! Finance

FNDS3000 Corp Announces Major Corporate Restructuring Initiatives to Enhance Growth of Global Prepaid Card Business - Yahoo! Finance
FNDS3000 Corp (OTC Bulletin Board:FDTC.ob - News), an international prepaid processing company currently introducing electronic payment solutions to the South African market, today announced the implementation of several strategic reorganizational initiatives specifically designed to streamline its senior management structure, reduce corporate overhead and strengthen its overall operating platform.

Key restructuring initiatives include:
Changes to the composition of the Board of Directors, which has reduced the number of Board members from nine to five;
Expanding the leadership role of current Chairman Raymond Goldsmith through his appointment to the additional posts of President and Chief Executive Officer, replacing the Company's former President and CEO John Hancock; and
Eliminating approximately $500,000 in annual expected corporate overhead expenses through corporate staff and cost reductions in the U.S.