SCOTTSDALE, AZ, Sept. 26 /CNW/ - Zaio Corporation (TSX-V: ZAO), a real
estate database and technology provider, has announced the appointment of
Gregory L. Ford to its Board of Directors. Ford spent the past 10 years with
M&T Bank and served as Executive Vice President and Consumer Lending Manager.
In that role Mr. Ford provided strategic direction and leadership for
750 employees responsible for Consumer Lending lines of business and support
functions. For the bank he developed and implemented long-term strategic
direction for business lines, product enhancements, and technology support. He
established key operating values as a baseline for interaction throughout the
division and was a member of the Asset and Liability Committee, the executive
management team, and President of M&T Credit Corporation.
Prior to his work with M&T Bank, Gregory was Senior Vice President and
National Convenience Banking Manager for BANK ONE CORPORATION where he
developed and executed strategies for automated teller machines, transaction
migration, and alternative delivery. His service was marked with success in
managing all aspects of national convenience banking.
"It gives me great pleasure to welcome Greg Ford to our Board of
Directors. Both his direct experience with major financial institutions and
his demonstrated leadership ability will help Zaio as we focus on delivering
on our vision to remodel and enhance the valuation industry," said Board Chair
George Reti. Also praising Ford was Douglas Vincent, Zaio CEO who commented,
"Greg brings to Zaio an important dimension and perspective from the lending
community. His understanding of what financial institutions need is a perfect
fit for us."
Effective September 23, Zaio accepted the resignation of Thomas Inserra
from the Board of Directors. Chairman George Reti thanked Inserra for his
service and dedication to Zaio. "Thomas worked through moving the company from
our developmental phase to our operational status," said Reti.
Inserra, the former CEO until July 31, 2008 is no longer an employee of
the company; a mutual separation and severance agreement was reached as of
September 23. Inserra remains a significant shareholder and Zone owner of the
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