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Infinite president and CEO Clifford G. Brockmyre resigns; Michael S. Smith appointed as interim replacement
January 14, 2003
ROCHESTER, N.Y. -- Infinite Group, Inc. (NASDAQ: IMCI) today announced that Mr. Clifford G. Brockmyre has resigned as President and Chief Executive Officer of the Company. Mr. Brockmyre will remain as Chairman of the Board of Directors and will focus on the management of Laser Fare, Inc., the Company's wholly-owned subsidiary. Mr. Brockmyre's decision to return to Laser Fare on a full-time basis has been discussed with the Board over the last several months and is consistent with his long-term plan to scale back his duties and responsibilities to focus more attention on the operations of Laser Fare. Mr. Michael S. Smith has been appointed interim President and Chief Executive Officer. Mr. Smith has served as a member of Infinite's Board of Directors since 1995, and was Chairman of the Audit and Compensation Committees. Several new directors will be appointed shortly. In addition, Infinite announced today that it will be moving its corporate headquarters from Rhode Island to Rochester, New York. The new address and phone number will be announced as soon as they are available. Laser Fare, Inc.'s offices and operations will remain in Smithfield, Rhode Island. Mr. Brockmyre remarked that "with additional restructuring under new management, I believe Infinite will be better positioned to reach its potential." Infinite Group Inc.
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