EIDC Appoints Michael J. Bennett as Chief Financial Officer

EIDC Appoints Michael J. Bennett as Chief Financial Officer

Finance and Operations Veteran Brings Broad Skills and Experience to Nonprofit

HOLLYWOOD, Calif., Aug. 11 /PRNewswire/ -- The Entertainment Industry Development Corporation (EIDC) -- a private nonprofit that coordinates on-location entertainment production for the City and County of Los Angeles -- today announced the appointment of Michael J. Bennett as its chief financial officer. In his new post, Bennett will oversee all activities involving the agency's finance, human resources and information technology.

Bennett joins EIDC with nearly three decades of senior level management experience in both the nonprofit and commercial sectors. He has worked with start-ups and large publicly-traded companies in industries ranging from consumer electronics and medical devices to family counseling/psychotherapy services. He replaces interim CFO Denise Gutches, who has served on EIDC's management team since 2004.

"Michael will be a terrific asset," said EIDC President Steve MacDonald. "His unique skills and expertise are ideally suited to this position, and will help EIDC fulfill its mission of serving the entertainment industry and the community at-large."

Bennett previously served as chief operating officer of Interface Family Services (Camarillo, Calif.), the largest nonprofit provider of domestic violence intervention and family psychotherapy services in Ventura County. During his tenure, he reduced operating expenses significantly, while developing financial controls to ensure billing consistency, accuracy and compliance.

He also served as vice president of finance and chief financial officer of PS Medical (Santa Barbara, Calif.) -- a global leader in implantable medical devices to treat neurological disorders. He was instrumental in the company's 1995 merger with Medtronic, spearheading the merger and due diligence process with the Fortune 500 company. During his 12 years at PS Medical and the newly named Medtronic Neurosurgery division, Bennett instituted financial controls and fiscal policies to boost operating profit. He was also appointed chairman of the company's Business Ethics Committee.

Earlier experience includes serving as controller of disk storage manufacturer IBIS Systems (Westlake, Calif.), manager of financial controls for stereo component maker JBL/Infinity Systems (Northridge, Calif.) and manufacturing cost accounting supervisor for Becton Dickson Labware (Oxnard, Calif.).

About the Entertainment Industry Development Corporation (EIDC)

EIDC is a private, one-of-a-kind 501c(4) nonprofit corporation working on behalf of film, television and commercial producers, Los Angeles area residents and local government to sustain Los Angeles' position as the global leader in media production. EIDC is not a government agency, but holds contracts with several cities and other government agencies to facilitate filming. More information about EIDC is available at www.eidc.com.

Source: The Entertainment Industry Development Corporation (EIDC)

CONTACT: Erik Deutsch of ExcelPR Group, +1-323-851-2300, ext. 112,
erikd@excelpr.com, for EIDC; or Philip Sokoloski of EIDC, +1-323-957-1000,
ext. 130, philip_sokoloski@eidc.com

Web site: http://www.eidc.com/

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