AirIQ Announces Resignation of Chief Executive Officer, Appoints Michael Robb as Interim CEO
April 15 2014 - 5:00PM
Marketwired
AirIQ Announces Resignation of Chief Executive Officer, Appoints
Michael Robb as Interim CEO
TORONTO, ONTARIO--(Marketwired - Apr 15, 2014) - AirIQ Inc.
(TSX-VENTURE:IQ) today announced that Donald Gibbs has resigned as
President and Chief Executive Officer of the Company effective
April 30, 2014. Mr. Gibbs is also a member of the Board of
Directors of AirIQ, and will continue to serve in that
capacity.
Michael Robb, Chief
Financial Officer of the Company, has been appointed to serve as
Interim President and Chief Executive Officer as the Company
searches for a replacement.
"We'd like to thank
Don for his leadership and commitment to the Company as President
and Chief Executive Officer over the last several years, and we
wish him all the best in his future endeavours," said Vernon Lobo,
Chairman of AirIQ. "We are also fortunate that Mike has agreed to
step forward into the interim Chief Executive Officer role while
the Company continues to focus on growing revenues, achieving
profitability and exploring potential strategic initiatives,"
continued Mr. Lobo.
Mr. Robb has served
as Chief Financial Officer of AirIQ since 2010, and worked in
AirIQ's finance department for several years prior to that time. "I
am committed to AirIQ's success, and look forward to working
closely with the Board and the Company's employees in this new role
to achieve the Company's strategic goals," stated Mr. Robb.
About AirIQ
AirIQ currently
trades on the TSX Venture Exchange under the symbol IQ. AirIQ's
office is located in Pickering, Ontario, Canada. The Company offers
a suite of asset management services that generate recurring
revenues from each device deployed. AirIQ delivers services to two
primary markets: Commercial Fleets and dealers that service
Consumer segments. AirIQ provides vehicle owners with the ability
to monitor, manage and protect their mobile assets. Services
include: instant vehicle locating, boundary notification, automated
inventory reports, maintenance reminders, security alerts and
vehicle disabling and unauthorized movement alerts. For additional
information on AirIQ or its products and services, please visit the
Company's website at www.airiq.com.
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 statements with words such as "hope", "goal",
"anticipate", "believe", "expect", "plan" or similar words
suggesting future outcomes. These statements are based upon certain
material factors or assumptions that were applied in drawing a
conclusion or making a forecast or projection as reflected in the
forward-looking statements, including AirIQ's perception of
historical trends, current conditions and expected future
developments as well as other factors management believes are
appropriate in the circumstances. 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 may differ
materially from those expressed in such forward-looking statements.
Forward-looking statements are provided for the purpose of
providing information about management's current expectations and
plans relating to the future. Readers are cautioned that such
information may not be appropriate for other purposes. Other than
as may be required by law, AirIQ disclaims any intention or
obligation to update or revise any such forward-looking statements,
whether as a result of such information, future events or
otherwise.
AirIQ Inc.Michael RobbChief Financial Officer(905) 831-6444,
Ext. 4371mrobb@airiq.comwww.airiq.com
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