LAKE FOREST, Calif., March 12 /PRNewswire-FirstCall/ -- Comarco, Inc.
(Nasdaq: CMRO) today announced the appointment of Samuel M. Inman III, 56, as
Interim President and Chief Executive Officer, effective March 10, 2008. He
replaces Thomas A. Franza, who has left the Company as well as the Board of
Directors and will become a consultant to Comarco.
The Company also reported the naming of Jeffrey R. Hultman, 68, as Lead
Director of the Board, following the resignation of its Chairman, Erik H. van
der Kaay from the Board of Directors on March 10, 2008. Following these
leadership changes, the Comarco Board is now comprised of five members and the
Chairman position will not be filled at this time. The Company also announced
that the Board of Directors has dissolved its Executive Committee, established
in June 2007. "The entire Board would like to thank Tom and Erik for their
years of service to Comarco and wish them well in their future endeavors,"
said Mr. Hultman.
"With Sam's appointment and the appointment of the two directors who
joined us last week, the Company has new dynamism and focus on enhancing
shareholder value," continued Mr. Hultman. "This leadership transition
positions the Company to more aggressively develop and pursue alternatives
that we expect will drive enhanced returns to shareholders from our three
business lines: ChargeSource(TM), WTS and Call Box. Sam's experience in the
PC and related peripherals industry, his track record of success, and
knowledge of Comarco's businesses from his service on the Board since last
July, make him the ideal candidate to lead the Company today."
"I look forward to working as part of the Comarco team to capitalize on
the significant opportunities ahead," said Mr. Inman. "The recent agreement
with Lenovo for our new, ultra-lightweight ChargeSource(TM) adapter, and
recent introduction of the next-generation QoS (Quality of Service) system,
our first offering with our partner Ascom, are two very significant steps. We
will continue to focus on driving success in our three businesses and remain
fully committed to building shareholder value."
Mr. Inman worked for IBM for 20 years, beginning in 1972, in a variety of
senior management positions, including President of IBM PC Company, Americas,
as well as President of the National Distribution Division. Since leaving IBM
in 1993, he has served in executive level positions with several technology
companies, including President and COO of Ingram Micro, President and CEO of
Centura Software Corporation, Co-CEO and Chairman of the Board of Advisors to
Viking Components, Inc. until the company was sold to Sanmina-SCI in 2002, and
Executive Chairman of Think Outside until the company was sold to Mobility
Electronics in June 2006. Mr. Inman holds a B.S. in Mathematics from Purdue
University and an Executive Program Certification -- Director Training from
the Anderson School of Management at the University of California, Los
Angeles.
Mr. Hultman is CEO and a director of IPTV Corporation (Pink Sheets: IPTV),
an interactive television company developing video commerce technologies, a
position he has held since October 2007. From 2005 to May 2007, he served as
CEO and a director of Siena Technologies, Inc., a company that designs and
deploys wireless technology and specialty communication systems. From 2002 to
2004, he served as CEO of Edge Focus, Inc., a high speed wireless internet
company. From 1998 to 2002, Mr. Hultman was a partner in Big Bear Sports
Ranch, a sports summer camp for school age children. He was CEO of Dial Page,
Inc., a provider of wireless telecommunications throughout the southeastern
U.S. from 1991 through 1996. Prior to 1991, Mr. Hultman was CEO of PacTel
Cellular.
About Comarco
Based in Lake Forest, Calif., Comarco is a leading provider of innovative
mobile power solutions through its ChargeSource(TM) line of multi-function
universal mobile power products which can simultaneously power and charge
multiple devices such as notebook computers, mobile phones, iPods(R), and many
other rechargeable mobile devices. Comarco is also a provider of wireless test
solutions and wireless emergency call box systems. More information about
Comarco's product lines can be found at http://www.comarco.com and
http://www.chargesource.com.
SOURCE Comarco, Inc.