|By Marketwired .||
|January 16, 2014 06:09 AM EST||
LOS ANGELES, CA -- (Marketwired) -- 01/16/14 -- Independent Film Development Corporation (OTCQB: IFLM), with a plan of operations to develop themed resorts and hotels, announced today that it has appointed David Garland as the Chief Executive Officer for the company. He replaces interim CEO George Ivakhnik, who moves over to the position to the Chief Investment Officer for Real Estate Operations.
Garland joins IFLM as the CEO as the company moves forward with its Hilltop Manor Resort and Theme Park project. IFLM's Hilltop Manor is a theme resort like no other, dedicated to executing on the most advanced FX technology to provide a full-immersion entertainment experience. To be built on an existing 500 acre Catskill Mountain resort, the company is engaging some of the top Hollywood artists and designers to develop the rides and experiences of the park, all showcasing the inexplicable, the mysterious and the unknown.
"The plan to develop themed entertainment resorts is a good fit for current market trends," Garland said. "The future of this industry is convergence: the convergence of the hospitality and the entertainment industries. IFLM is ideally positioned to be a major participant and innovator in full immersion entertainment. Current demographic trends also mean that we are at the front of a wave of retiring Baby Boomers who will have more dollars and more free time to invest in new entertainment experiences." Guests will be able to spend a day or a week living and having experiences like those in Ancient Aliens, The Hunger Games, and The Twilight Zone rather than just seeing them in films or on television.
IFLM's Hilltop Manor concept is a departure from the typical American theme park, but then again, that's the point. Consumer tastes have changed over the last ten years or so, prompted by new advances in technology, on-screen as well as off-screen. Cultural trends, such as reality television and a movement toward all-new, immersive entertainment experiences, are also fueling growth in this industry.
"Mr. Garland has a perfect eye for repositioning the company in the immersive entertainment space," said Chief Operating Officer Jeff Ritchie. "His background rounds out the executive team and he is the perfect person to have at the helm to ensure our team stays focused on the vision and executes. We are thrilled to be working with him."
Garland is a proven leader with cross-industry experience from real estate to technology. With an MBA from Wharton, he has nearly twenty years' experience in strategic business transformation/turnaround, operational re-engineering and financial restructuring. Starting with Deloitte Consulting in New York and Tokyo, he joined AIG from 2008 until 2011 to restructure their multi-billion dollar insurance operations following the 2008 financial crisis. Other successful engagements in corporate transformation and execution have included IBM (technology services), Epoch Investment Partners (asset management), J.H. Cohn (real estate) and BNX (retail). He has also successfully launched and held executive positions in businesses from retail to marketing.
In 2012 Mr. Garland launched a bid for the New York Senate seat from his home district in Manhattan, and since late 2012 he has been a Managing Director with private equity firm 51/49 Group, Inc. based in New York.
About Independent Film Development Corp.:
Bi-coastally based in Los Angeles, California and New York, New York, Independent Film Development Corporation's business plan of operations is to develop genre themed studio style resorts; to engage in film sales, distribution, and production; and to operate an Internet social networking and resourcing website for independent film and television development, production, and distribution.
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition. These statements include, among others, statements with respect to our objectives and strategies to achieve them, and statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions, and are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee.
C. David Pugh
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