07/23/03 Koala International Wireless Inc. Appoints New Chairman, CEO, President, and New Director While Announcing the Company's Relocation of Operations to Florida
TORONTO--(BUSINESS WIRE)--July 23, 2003--Koala International Wireless Inc. ("Koala" or the "Company") (KIWI - news) is pleased to announce that Harold H. Fischer has joined the Company as Chief Executive Officer. The company is also pleased to announce the following appointments. Mr. Peter Ianace will join the company as President. The board has also approved the appointments of Bradley Wilson as Chairman and Director as well as Mr. Derek Pepler as Secretary and Director. Mr. Miguel Caron, the former Chairman will remain as a Director of the Company and former CEO Terry Clarke will assume the position of Chief Operating Officer.
Mr. Fischer joins Koala as CEO reporting to the Chairman and the Board of Directors. Mr. Fischer offers a resourceful and team oriented executive pedigree with extensive operations experience in the rapid growth technology and services industry. He is recognized for exceptional ability and skills to develop and manage new business units and companies, create and implement marketing and development strategies, recruit motivate and develop outstanding organizations and form beneficial business alliances to protect and enhance the investment of the organization while attaining the desired financial business results. Mr. Fischer's experience includes C-level management roles at Integrated Color Solutions, Threshold Partners, Electronic Business Services, Turnkey Solutions, Inc, Wang Laboratories, Inc., and Unisys Corporation. His proven visionary leadership, innovative planning, and persistent focus on achieving results will serve Koala in its next stages of evolution. He is set to provide a strong effective personal selling and managerial skill set to be applied to organizational and business opportunities with a delivery outcome for Koala.
Peter Ianace has joined the Company as President reporting directly to Mr. Fischer effective immediately. Mr. Ianace has over 30 years of experience in building successful technology companies, and recently served as President and CEO of Intelect Network Technologies, where he was responsible for managing the growth and integration of worldwide sales and product development. He has also served as the President of Opcom, a high-tech start-up, where he helped launch its product line; and as President of Pactel Meridian Systems, as well as VP of Marketing for NORTEL, where he led the market launch of the Meridian 1 product line. He also served in other senior management roles including director of national accounts for AT&T and various product development and sales positions at IBM. Mr. Ianace's recent venture at Vianet developed and deployed solutions for private and public networks, e-commerce applications, visual media communications and next-generation bandwidth management.
Mr. Wilson, current President and CEO of Florida based Merbank Capital Inc., has over 20 years of leadership and management experience in the Public Marketplace. Mr. Wilson is joined on the Board of Directors by Derek M. Pepler who has extensive tax and financial packaging experience in the area of contract management in the media and entertainment sectors. Both gentlemen have joined the Board to augment the company's compelling business strategy and to assist in the company's financial pursuits and assist in the finalization of the Company's contract provisions currently underway.
Bradley Wilson stated, "Koala represents a diamond in the rough in its market segment and I am very pleased to be working with such an enterprising and exciting organization augmented by a powerful executive team. Hal Fischer and Peter Ianace, in particular, bring experience and proven business building capabilities to a very solid business model."
Derek Pepler stated, "The team assembled and technology offering of Koala is a unique opportunity to create both current and ongoing residual value to its shareholders."
Mr. Wilson brings with him proven leadership and a disciplined awareness of public market positioning while Mr. Pepler brings a balance of financial and corporate acumen to further the Company's compelling business model.
Furthermore, Koala and its Board of Directors have agreed to relocate the domicile of the business from Vancouver BC Canada to the Miami area in Florida effective the 1st of September 2003. The Company has been actively pursuing a number of US initiatives and will be required to have a US operating base to more effectively fulfill its objectives.
About Koala: Koala is developing an International Mobile Virtual Network Operator (IMVNO) platform to allow the delivery of voice, data and Short Messaging over multiple networks. Concurrent with the IMVNO development, Koala is pursuing the development of applicable devices to serve the network subscribers. The IMVNO strategy will enable subscribers to access the Internet, play and store MP3, utilize existing applications including calendaring, contact management systems, email and Short Messaging and additional functionality, some not currently available in the marketplace.
Forward Looking Statements
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "will," "upon," "develop(ment)" and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future expectations.
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