Press Release Archives

Macfadden Implements a New Board of Directors

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March 28, 2007

Macfadden and Associates, Inc. (Macfadden) announced today that it has implemented a new Board of Directors in conjunction with the transfer of the company's remaining equity to the Employee Stock Ownership Plan (ESOP) Trust. Russell Hall will serve as the Chairman of the Board. Ronald Torrence and David Binns have been named Directors of the Board.

The Board of Directors is responsible for providing leadership and guidance for the company while representing the interests of shareholders in all matters. Building on the momentum of a successful transition to a 100 percent employee-owned company, the Board will work diligently to protect the shareholders' assets and ensure that the company achieves a return on its investments. In addition, the Board will oversee how management serves the long-term interests of share owners and other stakeholders.

Mr. Hall has served as Chief Executive Officer since August 2004. As Chairman, he will ensure the Board's full discharge of duties, including fiduciary duty to provide oversight. "I am thrilled to have such high caliber leaders serving Macfadden as part of the Board of Directors", said Russell Hall, "I am confident that their years of experience and capabilities will take Macfadden to the next level, and that they will earnestly represent the interests of our stakeholders."

Mr. Torrence has served as Macfadden's Acting Chief Financial Officer since December 2005 and was instrumental in effecting the recent 100 percent stock purchase transaction. With more than 40 years of experience in the financial arena, Mr. Torrence is focused on facilitating growth within the company while maintaining strong financial performance.

David Binns, Associate Director at Beyster Institute, is a well-known author and ESOP expert with extensive experience providing consulting and advisory services to companies with ESOPs. From 1984 to 1991, Mr. Binns served as Executive Director of The ESOP Association, the national trade association representing the interests of companies with employee stock ownership plans (ESOPs) and professionals. Mr. Binns' extensive background in employee ownership coupled with his experience both domestically and internationally in enterprise development, uniquely qualifies him for a role on Macfadden's Board of Directors. He will serve as an expert resource to the Board in the areas of legal, financial and human resource implications of the structure and implementation of Macfadden's employee ownership plan.

"I am pleased to be serving Macfadden in this capacity and look forward to the opportunity to help shape the direction of the company," said Mr. Binns. "The culture of employee ownership at Macfadden has greatly contributed to the growth and success of Macfadden. I am honored to provide valuable insight and guidance to this dedicated team."

Macfadden Becomes a 100 Percent Employee-Owned Company

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March 28, 2007

Macfadden and Associates, Inc. (Macfadden), a privately held professional services company providing humanitarian disaster assistance, integrated information technology and program management services and support, announced today that its Employee Stock Ownership Plan (ESOP) Trust has acquired 100 percent of the outstanding shares of Macfadden. Former President and founder, Jim Macfadden stepped down and sold his remaining company stock to the employees of Macfadden effective March 28, 2007.

Macfadden's ESOP was initially established in 2004 when Jim Macfadden transferred 35 percent of Macfadden's stock equity to employees in preparation for a planned exit from the company. Russell E. Hall, Chief Executive Officer, has been named president, and a new Board of Directors will be seated immediately.

"At Macfadden, we believe that the employee-ownership culture provides our hard-working team members with the motivation to truly fulfill our mission of delivering results and exceeding the expectations of our customers," said Mr. Hall. "Macfadden values our employees and our ESOP affords our staff the opportunity to make positive contributions to the company while growing their own shareholder wealth."

Macfadden will be holding its annual shareholder meeting on Thursday, May 17, 2007 to discuss the impact of the change in ownership and the strategic direction of the company. During the past several months Macfadden has been awarded several contracts for new initiatives and renewed contracts for several long-term customers. "We are excited about the future of Macfadden and the opportunities for growth that exist in the near future," said Mr. Hall. "There is no better way for a company to be successful than providing its employees with a stake in what they do each and every day. A culture of employee ownership provides our employee-owners with a culture of collaboration that drives innovation."

Macfadden awarded subcontract from USAID, STOP AI

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March 16, 2007

Macfadden was awarded a 3-year subcontract by Development Alternatives, Inc. (DAI) in support of its prime task order contract with the U.S. Agency for International Development (USAID). The agency project, Stamping Out Pandemic and Avian Influenza (STOP AI), will focus on animal health aspects of highly pathogenic avian influenza (HPAI), and will provide technical resources and support services in preparedness planning; surveillance and prevention; outbreak and response; and re-infection prevention and recovery within the animal health sector, all to help ensure that HPAI does not evolve into a human health crisis.

Working with U.S. Government agencies, national governments, international and nongovernmental organizations, and a roster of deployable veterinarians and other public health experts, the project will contribute to the U.S. Government's international avian influenza response and will assist in HPAI detection and outbreak response, containment, and recovery.

Macfadden's main role on the STOP AI Team will be a focus on delivering reliable and timely logistics and operations support to facilitate and enhance international assistance to countries impacted by HPAI. In implementing the three-year contract, the STOP AI Team will draw on their worldwide network of epidemiologists, veterinary virologists, public health experts, communication strategists, laboratory diagnosticians, trainers, emergency responders, poultry specialists, and food safety experts.

WFED-AM 1050, Federal News Radio ? "Tech Talk with John Gilroy"

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February 20, 2007

Macfadden's President and CEO, Russell Hall, appeared as a guest on "Federal Tech Talk with John Gilroy" on Federal News Radio, WFED-AM 1050.

In this program, aimed at assisting federal agencies to utilize information technology solutions to improve efficiency and productivity, Mr. Hall discusses IT healthcare solutions, GIS technology, and telecommunications and data center management.

To listen to the program archive, please click the link shown below.

Download: WFED "Tech Talk" with John Gilroy - Russell Hall 2/20 audio file

Download: WFED "Tech Talk" with John Gilroy - Russell Hall 2/20 interview transcript

Or listen here:

U.S. Department of State Awards a 5-year Contract to Macfadden

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January 30, 2007

The U.S. Department of State awarded Macfadden a follow-on 5-year contract supporting the Office of the Coordinator of U.S. Assistance to Europe and Eurasia (EUR/ACE). Macfadden has provided support to the Department of State since 1993, and has expanded its services to become the main program support contractor for EUR/ACE. With this contract award, Macfadden continues to provide program management support, while capitalizing on its flexibility to expand into democracy and governance, security, rule of law, and program reviews.

Macfadden will continue to provide support to EUR/ACE in the forms of program management, humanitarian assistance, grants and logistics management, security expertise, rule of law, foreign policy implementation, and program reviews and evaluations.

The Department of State's Office of the Coordinator of U.S. Assistance to Europe and Eurasia oversees the bilateral economic, security, democracy, and humanitarian assistance of all U.S. Government agencies providing assistance to the 27 states of the former Soviet Union and eastern Europe.