ISAI's Board Elects Jack T. Wallace Chairman and CEO.Business Editors BURNSVILLE, Minn.--(BUSINESS WIRE)--Aug. 25, 2000 ISA Internationale Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ISAI ISAI Instituto Superior de Assistentes e Intérpretes (Portugal) ISAI International Society of Applied Intelligence (Texas State University, San Marcos) ) has elected Jack T. Wallace as its Chairman 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. , and as CEO of its 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. , ShoptropolisTV.com, Inc. Mr. Wallace succeeds Gerald J. Durand who resigned as CEO of ISAI and ShoptropolisTV.com, Inc. Wednesday. Mr. Durand, 49, a founder of ISAI in 1998 and its CEO since inception, said he would remain a director for a designated period of time. Mr. Durand resigned to pursue his interests in securing venture capital for start-up industries, and opportunities in mergers and acquisitions. Mr. Wallace, 60, has been an acting senior executive with ISAI since January 1999, and became a director this past July. His primary activities in 1999 were to revamp the marketing strategies and business operations of ShoptropolisTV.com, Inc. (f/k/a Internationale Shopping Alliance, Inc.), a television and Internet shopping network, then headquartered in Knoxville, Tennessee. Mr. Wallace was instrumental in restructuring the company in Knoxville and relocating its operations to the Twin Cities, December 1999. Mr. Wallace will head a committee to review the composition of the board, and ISAI's financial and merger and acquisition plans, and head a committee to review ShoptropolisTV.com, Inc.'s growth plan. Mr. Wallace is a graduate of Arizona State University Arizona State University, at Tempe; coeducational; opened 1886 as a normal school, became 1925 Tempe State Teachers College, renamed 1945 Arizona State College at Tempe. Its present name was adopted in 1958. with a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Economics. He served with the Arizona Air National Guard The Arizona Air National Guard is the branch of the United States Air National Guard operating within the state of Arizona. It was founded by Barry Goldwater, and was integrated two years before President Truman's military integration order. and saw duty with the Air Guard in Europe and Viet Nam as an aeronautical officer and flight instructor. Jeffrey Abrams received the board's vote of confidence to remain president and COO of ShoptropolisTV.com, Inc. and a director of ISAI. Gerard Ferri continues as executive producer of the shopping network's television operations located in Miami, Florida, and will oversee the company's new network affiliates. Mr. Wallace and Mr. Abrams said they expect ShoptropolisTV.com, Inc. to be on the air with its new format the first quarter of 2001. THIS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITH RESPECT TO THE RESULTS OF OPERATIONS AND BUSINESS OF THE COMPANY THAT INVOLVE RISKS AND UNCERTAINTIES. THE COMPANY'S ACTUAL RESULTS MAY MATERIALLY DIFFER FROM THOSE DISCUSSED HEREIN. |
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