Huhndorf plans return to CIRI

Posted: Sunday, April 21, 2002

ANCHORAGE (AP) -- Roy Huhndorf, one of Alaska's most prominent Native leaders, has launched a campaign to return to Cook Inlet Region Inc.

Huhndorf is CIRI's retired president and chief executive of Anchorage-based Cook Inlet Region Inc. He led the company for nearly 21 years.

In a letter to shareholders this week, Huhndorf and four other independent candidates for the board contend that were it not for the sale of telecommunications assets in 2000, the company would have sustained substantial losses.

Sale of CIRI-owned apartments in 1999 ''substantially inflated what would otherwise have been a relatively small profit'' that year.

The letter doesn't name any CIRI subsidiaries or investments that may have hemorrhaged, but Huhndorf and the others say that once the corporation's 2001 annual report comes out, probably within the next few days, the losses will be apparent.

Carl Marrs, CIRI chief executive, expressed surprise at Huhndorf's move.

''He's making allegations that we're in trouble financially, and that's not true,'' Marrs said.



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