OTC Bulletin Board : BTZO
August 22, 2011 09:20 ET
Bitzio, Inc. Forms New Board of Directors
New CFO Appointment Further Strengthens the Leadership Team
SAN DIEGO, CALIFORNIA--(Marketwire - Aug. 22, 2011) - Bitzio, Inc. (OTCBB:BTZO) is pleased to announce the appointment of R.W. (Bob) Garnett, William Schonbrun and Amish Shah to its Board of Directors. These new directors collectively bring over 70 years of proven leadership experience in building and scaling companies for exponential growth.
In addition, the Board is pleased to announce that Bob Garnett will also serve as Bitzio's Chief Financial Officer. A chartered accountant and Certified Corporate Director, Bob is a senior financial professional with over 40 years of executive management and Board experience. He has served as the CFO of a major public company with $700 million in revenue that grew through the acquisition of 100-150 companies each year, and restructured another public company with $400 million of revenue. He has served on the boards of seven public companies, and is currently the Vice Chair of the South Coast British Columbia Transit Authority (TransLink) and chairs the audit committee. Mr. Garnett currently serves on the board and is the audit chair of Great Panther Silver Limited, traded on the TSX and NYSE AMEX. Previously, Bob served as Chair and Vice Chair of Coast Capital Savings, a $12 billion financial institution. Bob is a graduate of the Institute of Corporate Directors and The Segal Graduate School of Business as a Certified Director (ICD.D).William Schonbrun has over 20 years of experience in technology, management consulting and marketing, and is currently the Executive Vice President of Global Client Development at Blast Radius. In addition to his Board appointment, Mr. Schonbrun will also act as Special Advisor to the CEO and has been instrumental in recruiting the management team, Board and helping set the vision for Bitzio.
Amish Shah is known internationally for his vision and experience in mobile applications. He is co-founder and CEO of DigiSpace Solutions, which was listed in the Inc 500 as the 60th fastest growing private advertising company, and is currently Executive Vice President of Product Vision at Bitzio, Inc.
"This strengthening of our Board and our leadership team comes at a critical time, as we are laser-focused on developing the company into a key player in the social media and smartphone markets," said Gordon McDougall, CEO of Bitzio Inc. "The depth of experience the new directors bring to Bitzio is well matched for the challenges and opportunities ahead as we expand in this high growth area."
"From my experience in building businesses, I know that one of the most significant determining factors of success in early-stage companies is the management team," added Bob Garnett, director and new Chief Financial Officer. "I am delighted to join this particular management team and help Bitzio become a leading company in the social media and smartphone markets."
About Bitzio, Inc.
Bitzio, Inc. is a company with a strong focus on smartphone applications, social media and marketing optimization. We work with developers of mobile applications to dramatically improve their marketing reach, sales conversion, revenue and bottom line profits. We envision a mobile community where mobile applications enable people to connect in new and meaningful ways, and where Bitzio is a key driving force enabling these connections. For more information on the company, visit us at www.bitzio.com.
Learn more about Bitzio Inc. Watch the video.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. In many cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue", or the negative of these terms and other comparable terminology. These statements are only predictions. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a number of factors. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.
Contact Information
Magnolia Communications
Phoebe Yong
Media / Investor Relations
1 (888) 603-BTZO (2896)
phoebe@magnoliamc.com
