New Appointment Supplies Solid Foundation for Management Team
SCOTTSDALE, AZ, Aug. 7 /CNW/ - Douglas Vincent, recently named CEO of
Zaio Corporation (TSX-V: ZAO), a real estate database and technology provider,
announces the appointment of James A. Kirchmeyer as President of Zaio
Corporation. Mr. Kirchmeyer has been with Zaio as result of the acquisition of
his company in June of 2007. He will also serve as a member of the Board of
Jim is the ideal choice for President of Zaio," commented Chief Executive
Officer, Doug Vincent. "We have the compatibility necessary to supply a solid
foundation for our dynamic executive management team. We share the commitment
to align our corporate initiatives and priorities strategically. Personally, I
am energized that, as we roll out our Zaio products and solutions across the
country, we share an unwavering focus on delivery and execution with a
philosophy of tight fiscal management. We have tremendous opportunity ahead of
us," stated Vincent.
Jim Kirchmeyer began his extensive career in the Real Estate Valuation
Industry in 1983 as a New York State Certified Appraiser, earning the SRA
designation from the Appraisal Institute. In 1994, he founded his own Real
Estate Appraisal Company, Kirchmeyer & Associates, Inc. where his company grew
from servicing the Buffalo, New York area to include multiple offices
providing services throughout the United States.
As a complement to his Real Estate Appraisal Company, Kirchmeyer founded
Real Info, Inc. in 1995, a real estate valuation and data company specializing
in Automated Valuation Models. Zaio acquired Kirchmeyer & Associates and Real
Info in June of 2007.
A well-known expert in the valuation industry, Jim is a founding member
and current Chairman of the Collateral Assessment & Technologies Committee
(CATC) associated with the Real Estate Information Professionals Association
(REIPA). Jim teaches banking examiners and federal regulators for the FFIEC
and brings his extensive knowledge, expertise and enthusiasm to the Zaio team.
"One of our first objectives as an executive team is to cure redundancies
that resulted from our strategic acquisitions," stated Kirchmeyer.
"Acquisitions made last year were held intact as insular operations to
optimize stability and promote product delivery. We will continue our review
of business strategies and refine and optimize our go-forward strategy.
Increasing value to shareholders, customers, and Zone owners is our primary
In connection with these changes, the Company had granted 450,000 share
options which have a five year term and vest over the next 24 months at an
exercise price of $0.46.
Zaio is a technology and database company. The Zaio network of appraisers
currently serves approximately 500 lenders with a variety of nationwide
appraisal services. Zaio maintains a secure database of 140 million properties
and its affiliated appraisers are now site verifying property data, photos and
appraisals of virtually every property in America. Zaio's network of local
appraiser experts appraise entire cities, one building at a time using a
proprietary GeoScore(TM) rating system. Zaio trades under the symbol "ZAO"
with additional information available under the symbol "ZAOFF".
For investors who would like to be added to the Zaio investor
distribution list or receive a copy of the 2007 Annual Report, please contact
Lisa Lyscio at firstname.lastname@example.org.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release. This press
release contains forward-looking statements, which may include financial and
business prospects, as well as statements regarding the Company's future
plans, objectives or economic performance and financial outlooks. Such
statements are subject to risk factors associated with the real estate
industry, and the overall economy in both Canada and the United States. The
Company believes that the expectations reflected in this press release are
reasonable, but actual results may be affected by a variety of variables and
may be materially different from the results or events predicted in the
forward-looking statements. Readers are therefore cautioned not to place undue
reliance on these forward-looking statements.
In evaluating forward-looking statements readers should consider the risk
factors, which could cause actual results or events to differ materially from
those, indicated by such forward-looking statements. These forward-looking
statements are made as of the date hereof, and unless otherwise required by
applicable securities laws, the Company does not intend nor does it undertake
any obligation to update or revise any forward-looking statements to reflect
subsequent information, events, results or circumstances or otherwise.
For further information:
For further information: Donald E. Kelly, Chief Communications Officer,
(202) 302-3870; Lisa Lyscio, Manager of Investor Relations, (480) 449-2606