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YTB Appoints Cauthen as President, CEO and DirectorJune 8, 2012 By: Newswire Travel Agent
Multi-level marketer YTB International, Inc. reports it has appointed Andrew Cauthen as president and CEO. Cauthen has also been appointed as a Director to fill a vacancy on the company's Board. The appointment became effective on May 31, 2012.
Cauthen replaces Robert M. Van Patten, who resigned last month as president, chief executive officer, interim chief financial officer and a member of the Board of Directors.
Cauthen served as President and COO of YTB Marketing, Inc. (now known as YTB, Inc., a wholly owned subsidiary of YTB) from 2009 to 2010, and as President and COO of YTB from 2004 to 2009.
Earlier YTB reported it was embarking on a reorganization plan to refocus on organizational improvement and operational execution. The plan entails a renewed commitment to its core travel services offerings, a review of product distribution programs, and cost reduction initiatives, YTB said in a statement.
Cauthen said: "There are a number of challenges for YTB, and we are going to confront them as opportunities for improvement. We have a supportive group of corporate and field leaders, and we will be working together diligently on a plan for energizing and growing the Company. We will work hard to regain a respected position in the travel industry."
Last month, YTB reported delays in its annual report filing with the Securities and Exchange Commission (SEC).
YTB said the company's annual report (Form 10-K) for the year ended December 31, 2011 and quarterly report on Form 10-Q for the quarter ended March 31, 2012 was delayed but that YTB was working toward compliance with its reporting obligations.
YTB describes itself as a leading marketer of Internet-based travel services and products.