AcXess Mourns Passing of Anthony Zalenski, Names New CEO and Chairman.Board of Directors Names Philip Ellett as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Traver Gruen-Kennedy as Chairman BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- AcXess, Inc. (Other OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : INIV.PK) announced today that Anthony Zalenski, chairman and CEO of the company, died unexpectedly on Saturday, December 9. The AcXess Board of Directors named Philip Ellett, former president of the Americas for Ingram Micro Ingram Micro, Inc. NYSE: IM a Fortune 100 company founded in 1979 and based in Santa Ana, California. It is the world’s largest technology distributor and a leading technology sales, marketing and logistics company. , as CEO and new member of the board. Current board member Traver Gruen-Kennedy, Vice President of DayJet Corporation and former Chief Strategist at Citrix Systems Citrix Systems' (NASDAQ: CTXS) is an American technology company, based in Fort Lauderdale, Florida, with subsidiary operations in California and Massachusetts, with additional development centers in Australia, India and the UK. , was named Chairman. "It is with great sadness that I announce that Tony Zalenski, our chairman, CEO and close friend, died on Saturday. Tony was an exceptional man who brought tremendous leadership and passion to his job. Our entire company mourns this loss," said Tom Elowson, president and co-founder of AcXess. Zalenski, who founded AcXess with Elowson, was 63 years old. Zalenski, a recognized visionary in the technology industry, had a long and successful career. He managed startups, led turnarounds and held executive positions with Fortune 100 companies. Prior to AcXess, Zalenski served as president of Casi-Rusco, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Interlogix; chairman, CEO and president of SoftMountain, an enterprise software startup company The creator of this article, or someone who has substantially contributed to it, may have a conflict of interest regarding its subject matter. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. ; and president and CEO of Boca BOCA Building Officials and Code Administrators International, Inc. BOCA Bird Observers Club of Australia BOCA Business Object Component Architecture BOCA Borland Object Component Architecture (Borland) Research. At Boca Research, Zalenski strategically repositioned the company to address the emerging Internet appliance Also called "information appliance," "smart appliance," and "Web appliance," it is a device specialized for accessing the Web and/or e-mail. Designed for ease of use, it plugs into a telephone jack or LAN connection for Internet hookup. market and grew annual sales from $40 million to $150 million. Previously, Zalenski served as corporate vice president and COO of Motorola UDS/ISG. Prior to Motorola, he was a founding member of Isacomm, a telecommunications startup, subsequently purchased by US Sprint. Philip Ellett, who replaces Zalenski as CEO, joined AcXess as an executive consultant in September 2006 and was an advisor to Zalenski. In addition to being named CEO, Ellett was also elected to the AcXess Board of Directors. Ellett has more than 30 years of experience in high tech business and has held sales, marketing and executive management positions in North America and Europe. As president of the Americas for Ingram Micro, the world's largest computer products distributor, Ellett was responsible for an operation that generated more than $20 billion in annual revenue. Prior to that, he led Ingram Micro's European, Middle East and African operations. During his stay in Europe, Ellett commenced and completed strategic acquisitions in Germany, Netherlands, Finland and Sweden and brought about an increase of over 90% in year-over-year operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. . New CEO Philip Ellett said, "One of Tony's greatest legacies is the AcXess board of directors and unparalleled senior management team he assembled for the company. We will honor him by continuing to grow AcXess as a company and to lead our industry. I had the pleasure of working closely with Tony, and I am proud to continue the work that he began." The AcXess Board of Directors also named Traver Gruen-Kennedy as Chairman. Gruen-Kennedy, who is Vice President of DayJet Corporation, joined the AcXess board earlier this year, and has been instrumental in the development of the company since its inception. A global technology leader, Gruen-Kennedy is ranked by NetworkWorld as one of the "25 Most Powerful People in Networking," and the World Economic Forum named him a Technology Pioneer for his contributions to technology and to society. Prior to DayJet he served in a variety of business and corporate development roles ultimately serving as chief strategist at Citrix Systems for 8 years, where he played a significant role in the company's post-IPO growth to become the world's 15th largest software company. About AcXess, Inc. AcXess, a wholly owned subsidiary of Innovative Software Technologies, Inc., is the first company to make FORTUNE 100-class business continuity and resilient application solutions affordable for small and medium-sized enterprises. AcXess protects companies from loss of operations and revenue during virtually any emergency situation, and enables them to meet the continuity demands of customers, partners, shareholders and regulators. AcXess also delivers high availability managed services to organizations needing applications or product demonstrations on-demand. AcXess' "channel-first" partner model enables VARs to provide powerful BC solutions while creating significant recurring revenue. AcXess is headquartered in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. . For more information, visit http://www.acxess.com. A profile for investors can be accessed at http://www.hawkassociates.com/inivprofile.aspx. Visit http://www.hawkassociates.com and http://www.americanmicrocaps.com for an online investor kit. For investor inquiries, contact Hawk Associates at (305) 451-1888 or info@hawkassociates.com. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, product market trends, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings. |
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