Paul Stephenson has been named Vice President and Chief Financial Officer of Fargo Electronics, Inc. (Nasdaq:FRGO), according to Gary R. Holland, President and CEO of Fargo. Eden Prairie-based Fargo is the world’s leader in innovative technologies for desktop plastic card personalization systems. “We are very pleased to have Paul join Fargo’s management team,” said Holland. “His extensive background working with manufacturing organizations will be very valuable as Fargo continues to grow.”
Stephenson brings over 25 years of professional business experience to Fargo. Most recently, he served as Chief Financial Officer of the Minnesota Orchestral Association. From 1992 to 1999 he was Vice President – Finance and Chief Finance Officer for Check Technology Corporation. His previous experience includes positions at Honeywell Inc. and KPMG International. Stephenson is a graduate of Cambridge University, England, and holds professional qualifications as both a Certified Public Accountant in the United States and a Chartered Accountant in the United Kingdom.
Elaine A. Pullen, President of Trident International, Inc. of Minneapolis, and Everett V. Cox, General Partner, St. Paul Venture Capital, were re-elected to the Board of Directors of Fargo Electronics, Inc. (Nasdaq:FRGO) at its Annual Meeting of Stockholders Thursday. Stockholders also approved a proposal to adopt the Fargo 2001 Employee Stock Purchase Plan by reserving 250,000 shares of common stock for use under the plan, and a second proposal to amend and restate the 1998 Stock Option and Grant Plan. Gary R. Holland, President and CEO of Fargo, reviewed 2000 operations and results, and discussed the prospects for 2001 and beyond.
Fargo Electronics, Inc. (Nasdaq:FRGO) is the world’s leader in innovative technologies for desktop plastic card personalization systems. Based in Eden Prairie, Minnesota, Fargo printing systems create personalized plastic identification cards complete with digital images and text, lamination, and electronically encoded information. Personalized identification cards provide physical, information and transaction security for a wide variety of applications including retail stores, e-commerce, government installations, schools, sports and recreation facilities, clubs and associations, and correctional facilities. More than 50,000 Fargo systems are currently installed throughout the U.S. and in over 100 other countries. For more information, visit Fargo’s website at [http://www.fargo.com].