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Business Observer Thursday, Jul. 20, 2006 16 years ago

Corporate Report

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by: Adam Hughes Staff Writer

Corporate Report

Coast Financial Holdings

names new president, CEO

Coast Financial Holdings, the parent company of Coast Bank of Florida in Bradenton, named Brian Grimes president and CEO of the holding company and the bank. Grimes, 43, formerly chief financial officer, replaces Brian Peters.

In a prepared statement, the board of directors says they terminated their agreement with Peters because they say it was time for a change in management after a successful restructuring of the bank. "Mr. Peters left on good terms and will be missed," the statement quoted James Toomey, the company's chairman.

As part of the termination agreement, Peters will receive a lump-sum payment of $742,900, according to the company's securities filings. In addition, the board says it will extend the exercise period for all his stock options. The value of Peters' unexercised options was about $93,000 at the end of the last fiscal year, according to the company's spring proxy statement.

In addition, the board named Justin Locke as interim chief financial officer and Anne Lee as chief operating officer. The board will conduct a search for a chief financial officer, and Locke, who has served the bank as controller, will also be considered.

New board members nominated

at Fort Myers-based Miva

Miva, the Fort Myers-based Internet marketing company, nominated new board members. They include Peter Corrao, the company's recently named chief executive officer, Mark Opzoomer, former managing director of Yahoo Europe and now managing partner of Bond Capital Partners, Adele Goldberg, founder of consulting firm Neometron and Joseph Durrett, former Broderbund Software chief executive. Shareholders will vote on the nominations at the company's annual meeting on August 16.

Miva's founder, chairman and chief executive officer Craig Pisaris-Henderson resigned from his management and board positions in April.

Louisiana company expands

Polk County facility

Taste Advantage, a Lake Charles, La.-based flavorings company, is expanding into a 19,000-square-foot manufacturing facility in Polk County with a $7 million capital investment and 30 new jobs. Taste Advantage joins a flavors and essence manufacturing cluster in the Tampa Bay region.

Golden Pond bought by

California senior living company

San Ramon, Calif.-based Summerville Senior Living bought Golden Pond, a Bradenton-based assisted-living facility. Terms were not disclosed. Summerville operates over 60 residential and assisted-living communities across the country, including 21 in Florida.

Kaufman, Rossin opens

offices in Fort Myers and Naples

Kaufman, Rossin & Co., one of Florida's largest independent CPA firms, opened new offices in Fort Myers and Naples on July 17. Lee A. Meyers is the practice leader for both the Fort Myers office at 12730 New Brittany Blvd. and the Naples office at 5100 N. Tamiami Trail.  

JMX opens overseas office

to improve operations

Sarasota-based JMX International Corp. opened an office in Shanghai, China, to monitor the importation of bamboo flooring and molding, along with other products to the United States. JMX recently expanded to the international market by importing bamboo flooring and molding.

JMX International is the parent company of numerous online stores and specializes in handcrafted furniture made by Amish woodworkers in Pennsylvania and Ohio.

Robotics firm teams

up with USF

Fort Myers-based robotics technology firm Innova Holdings signed a deal with the University of South Florida's College of Engineering to work together in research and development projects. The research projects will focus on unmanned ground and aerial robotics, infrared and wireless controls and open-architecture computer systems.

Verizon to offer cable television

in Sarasota County

Sarasota County became the ninth area in Florida to allow Verizon to offer cable television to residents. Verizon plans to start the digital-fiber network to Sarasota starting in 2007. Including service in Sarasota, Verizon will offer cable TV to 1.8 million customers in Florida.

ETC...

? Casto Lifestyle Properties has a new Web site designed by Sarasota-based GravityFree at www.castolp.com.

? Patricia Canfield and Jack Wilson started deCamville Design Inc. For more information visit www.decamville-design.com.

? OSI Restaurant Partners Inc. launched a new Web site: www.osirestaurantpartners.com.

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