News

Tidel hires new CFO

March 29, 2005

According to a March 1 U.S. Securities and Exchange Commission filing, Houston-based Tidel Technologies Inc. named Robert D. Peltier its new chief financial officer.

Peltier has been serving as CFO since Feb. 23, the filing noted, and was hired by Tidel Technologies' Board of Directors as a six-month contracted employee, whose term may be extended. Under the contract, Peltier will be paid a monthly salary of $12,000. After the initial six months, if Peltier's employment is continued, he will be paid a salary of $15,000 per month.

The announcement comes after the death of Tidel Technologies principal executive and financial officer James Rash, who passed away Dec. 18, 2004. Mark Levenick, president and chief executive of Carrollton, Texas-based Tidel Engineering Inc., was appointed by the board in December to serve as interim CEO.

Peltier's responsibilities will include, among other things, the preparation of the corporate financial statements and consolidations, overseeing the external audit, and drafting and filing SEC reports.

Tidel Technologies has agreed to pay Peltier a bonus of $28,000 if all of the company's required filings with the SEC have been made by the end of his initial six months under contract.

Peltier, 40, is a licensed CPA with more than 14 years of accounting and financial experience. He earned his bachelor's degree in accounting from the University of North Texas.