The Management Team
CSI's senior management currently consists of three members:
A.Y. Cook is the original founder of CSI and is the current President and a Director of the company. Prior to starting CSI, Ms. Cook owned and operated a large travel & tour packaging company. At its peak, that company's sales exceeded $39 million and passenger volume reached more than 150,000 per year. She has been dedicating 100% of her time to CSI since 1992.
Ms. Cook's primary responsibility at CSI is to market the company's services to potential tenants. The concept of allocating the cost of video retailing across several tenants in a Point 'n Click Shopping Center is Ms. Cook's idea. She first embarked upon this trail in 1986, when she was searching for a new retailing method which would enable her to gain greater personnel efficiency. The ability to gain telemarketing efficiency (roughly 67% of a telemarketer's time is spent talking directly to customers) was extremely attractive given the inordinate amount of "down time" experienced by retail sales agents. The use of videoconferencing, which was just becoming reality at the time, would be an extraordinary system with which to market travel services and gain greater efficiency. However, at the time, the video quality was poor and the costs were too prohibitive to utilize this new technology. Just recently, with the improvements in picture quality and the dramatic reduction in costs, this new method of retailing can become a reality. More over, when the cost is allocated across several retailers at the consumer end of the systems, this new retailing mode becomes extremely cost effective.
Ms. Cook's intimate involvement with this project since its inception ideally suits her to be the point person for CSI's marketing efforts. Furthermore, it was Ms. Cook that signed CSI's first tenant, AAA Travel, and her experience and success to date in marketing this novel retailing concept are invaluable in this position. She has also been involved with a variety of vendors and technical experts in designing the PCSC. The knowledge that has been gained throughout this process is a key attribute for the individual charged with overseeing the sales process.
James Winchester is the Chairman, Chief Executive Officer, and director of the company. Mr. Winchester's primary responsibilities include marketing and promotion of the company and its products and services, raising funds for continued company growth, and participation in the technical development of software and systems.
Prior to joining the company, Mr. Winchester was the President and Chief Operating Officer of a private technology venture developing a nationwide network of electronic ticketing machines for machines for airline tickets and other types of documents. Mr. Winchester's experience in building electronic distribution networks will be a direct benefit to the company in achieving its plan quickly and profitably.
Mr. Winchester will play an instrumental role in moving the company from a start-up venture to a production operation. Mr. Winchester has a demonstrated track record of success with moving technology companies from the initial concept stage to the profitable operating stage. His most notable success was a company which has since been acquired by MasterCard.
James Watt is the Executive Vice President, Chief Financial Officer, and a Director of the Company. Mr. Watt has been involved with as a Director of the Company since October 1993 and joined the company full time in January 1994. Upon joining CSI, Mr. Watt assumed responsibility for the financial operations of the company and the future site selection for the company's PCSCs. Mr. Watt's educational background and previous experience in the investment banking field make him an ideal candidate for these positions. More importantly, his familiarity with retail real estate financing and management should provide an excellent background as CSI embarks upon its course as the nationsl first virtual landlord.
Prior to his position with CSI, Mr. Watt was employed by Jones & Associates as a Vice President in their Investment Banking Department. Mr. Watt joined Jones & Associates in 1989 after his graduation from The Wharton School at the University of Pennsylvania with an MBA in Finance. His primary responsibility at Jones & Associates was the underwriting and marketing of private real estate investments.
In addition to Cook, Winchester, and Watt, the company has six permanent employees. Ms. Sharon Cloyd oversees the technical operations of the company as its Director of Development. Ms. Cloyd manages three software and hardware engineers whose primary expertise and responsibility are the software development and integration at the PCB and the RPCD. The other full-time employees are engaged in sales and administrative roles. As the company becomes more firmly established, additional full-time personnel will be employed in areas of responsiblity where they can be economically justified.
CSI believes that it has assembled an excellent management team to guide the company from a start-up venture to a profitable operating concern. With the assistance of outside advisors, consultants, and relationships such as that with Telecom, as well as outsourcing such operational tasks as routine PCB maintenance to Park Service Inc., CSI is adequately staffed to handle finance, operations, site selection, marketing & sales, and technical operations. Included in the Appendix are brief biographies on the key manangement team members.
