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International Players Tour Announces Robert E. Parmenter as Chief Financial Officer


Parmenter, former Vice President and Treasurer of Eaton Corporation, adds significant corporate financial experience and leadership to IPT Executive Team.

Charlotte, NC, August 17, 2008 --(PR.com)-- Robert E. Parmenter, an experienced corporate financial executive, has joined International Players Tour, Inc., as the company’s first Chief Financial Officer. Ron Beaman, CEO and Founder of IPT, offered the following statement regarding Parmenter joining his team, “Bob’s experience and expertise is precisely what we need to enhance our financial discipline and ensure effective processes in order to manage our accelerated growth in both the U.S. and the international arena. The timing of someone with his skill being available to fill our requirement for a CFO is perfect.”

Bob is a graduate of Stonehill College with a BA and of Boston College with an MBA with a concentration in Finance and Capital Markets. After graduation from business school, he began his business career with British Petroleum (BP) working in the finance department, first in Insurance and Risk Management and later in Capital Markets. While at BP, Bob was involved in pricing the largest ever tender offer for privately placed bonds and the first ever issuances of Foreign Interest Payment Securities (oil backed bonds and gold backed bonds).

Bob left BP to work for Eaton Corporation, where he was initially responsible for managing pension fund investments. Later he assumed responsibility for financial planning, cash management, and accounts receivable management. Bob was elected Assistant Treasurer and ultimately Vice President and Treasurer. As Treasurer, Bob had responsibility for all of the areas mentioned above as well as all capital markets activities, insurance and risk management, real estate and foreign exchange management. Bob retired from Eaton in December 2006.

During his career Bob raised over $10 billion of capital to finance acquisition and expansion, managed a portfolio of complex derivative securities, and established the first regional treasury center in mainland China for a multinational corporation. In addition to being a member of the leadership committee of Eaton Corporation, Bob has served on the non-profit boards of the Boys and Girls Club of Cleveland, the Cleveland Education Fund, and New Hope (a transitional housing agency). Bob is an avid golfer who has been playing golf since his early teens. He lives in Cleveland with his wife Jan and their two children Margot and Li.

Parmenter is excited about joining the rapidly growing IPT. He stated, “IPT is simply an awesome concept with such an excellent management team that I feel deeply honored to be offered the opportunity to serve as CFO.”

About International Players Tour (IPT)

International Players Tour operated by prior management of Champions Golf Tour (CGT), was launched in January 2008 for the purpose of bringing PGA style competition to avid golfers everywhere. Operations began in April 2002 under the banner of the Champions Golf Tour, which was founded by Ron Beaman in the Dallas/Ft.Worth area. Ron developed a business model that would provide avid recreational golfers a chance to play in an environment similar to major tour events – “inside the ropes” for significant prize money – utilizing a proprietary handicap system.

After conducting its first event in June, 2002, CGT followed with 17 tournaments in 2002 and awarded nearly $60,000 in prize money. Significant and sustained growth has occurred in subsequent years in player participation, number of events, and prize money. With over 1200 players in their system, IPT management conducted over 150 events in 2007 within ten state and twelve metropolitan city areas with payouts exceeding $570,000. In 2008, the IPT will conduct 200+ events in fifteen different metro areas, culminating in the Tour Championship at the Horseshoe Bay Marriott Resort in Texas, with the winner taking home $20,000 in Guaranteed first place prize money.

“The Model that Works” is now being adopted effectively and implemented successfully in multiple cities, with projected expansion into 5-10 new markets each year – including international locations - through a unique licensing rights program.

See www.ipgtour.com for additional information.

Contact Info:
Bill Conwell
SVP – Business Development
International Players Tour
bill.conwell@ipgtour.com
704.366.2047

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Contact Information
International Players Tour
Bill Conwell
704.366.2047
Contact
www.ipgtour.com

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