AirIQ Reorganization Includes Kenneth Wiesner As Chief Operating Officer.TORONTO -- Appointment Extends Expertise of Company AirIQ Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :IQ), a leader in the Telematics industry, announces the appointment of Kenneth Wiesner Kenneth George Wiesner (born 17 February,1925) was an American athlete who competed mainly in the high jump. He competed for the United States in the 1952 Summer Olympics held in Helsinki, Finland in the high jump where he won the silver medal. to Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Company. In 2004, AirIQ acquired the business of Aircept.com, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , based in Irvine, California Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28 1971, the 69.7 square mile (180.5 km²) city has a population of 202,079 (as of 2007). . Mr. Wiesner was the President and 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. of Aircept, and joined the AirIQ team as President of its Aircept division. The appointment is part of a reorganization intended to optimize the trio of companies assembled during 2004. Other aspects of the integration include: --Establishing five Strategic Business Units (SBU's) to ensure maximum vertical market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" ; --Combining areas of Shared Expertise (SE's) such as technology, finance and corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. , to support the SBU's; --Streamlining technology solutions to five from approximately twenty; --Rationalizing internal accounting systems to eliminate duplication and to provide clear and concise financial reporting; --Operating 24x7 customer-facing client care in Toronto (Pickering); --Consolidating high volume staging and shipping in Irvine; --Leading vehicular engineering from Irvine. The plan crystallizes five proven market segments: Commercial Fleets; Consumer; Vehicle Finance; Indirect Distribution; and, Marine. As the COO, Mr. Wiesner will lead all five business units and the operational structures responsible for delivery of the Company's products and services to its clients. "Our reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. with Ken's appointment is the next natural step of integration after the acquisitions of Aircept and Boatracs in 2004," says Donald Simmonds, President and CEO of AirIQ. "AirIQ acquired not only leading technology and growth potential, but also two tremendous teams with highly specialized expertise. Under Ken's leadership, the Aircept division recently experienced the largest revenue generation month in its history, with over 9,100 units shipped in December. Ken's appointment as COO applies his experienced leadership across the organization." "One of the primary objectives of the Company going forward in 2005 is to optimize the infrastructure while growing dramatically," explains Kenneth Wiesner, COO of AirIQ. "As a combined entity there will be a redistribution of expertise to maximize the impact of the acquisitions and further strengthen AirIQ's position in the Telematics industry. I look forward to my role on this dynamic leadership team." Prior to joining Aircept, Mr. Wiesner was a pivotal player in the growth of Teletrac Inc. from 1995 until 2001 and served as Chief Operations Officer before it was sold to Trafficmaster. Mr. Wiesner contributed to the success of Teletrac and was responsible for new market expansion and product development. Mr. Wiesner has extensive knowledge of the wireless industry from his six years building Premiere Page. Under Mr. Wiesner's direction, Premiere Page grew from its inception to the eleventh largest paging company in the US which was ultimately consolidated under Arch Communications in 1995. Mr. Wiesner also held numerous leadership positions over a period of years in operations and finance with United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. . Mr. Wiesner's educational background includes a BA with an emphasis in Finance from the University of Missouri - Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from the University of Rockhurst in Kansas City. Mr. Wiesner resides in Orange County, California Orange County is a county in Southern California, United States. Its county seat is Santa Ana. According to the 2000 Census, its population was 2,846,289, making it the second most populous county in the state of California, and the fifth most populous in the United States. . About AirIQ AirIQ trades on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol IQ. A leader in the Telematics marketplace, AirIQ is headquartered in Pickering, near Toronto, Canada. The Company operates as a wireless Internet applications service provider specializing in Telematics. Telematics is the name given to information and control messages sent wirelessly to and from vehicles and vessels. AirIQ's services are offered to five primary markets: Commercial Fleets; Consumer; Vehicle Finance; Indirect Distribution; and, Marine Fleets. AirIQ gives vehicle and vessel owners the abilities to manage and protect their mobile assets. AirIQ's services include: vehicle locating, boundary notification, automated inventory, maintenance reminders, security alerts, vehicle disabling, unauthorized movement alerts and many more features. For additional information on AirIQ, its products and services, and the recent acquisitions of the business of Aircept.com, LLC, and Boatracs, LLC, please visit the Company's website at www.airiq.com or call 1(888) 606-6444. Forward-looking Statements This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains words such as "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes and results may differ materially from those expressed in such forward-looking statements. AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise. AirIQ Inc. (TSX:IQ) |
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