ZAP Jonway Removes Chairman, Management in Board Action
SANTA ROSA, CA -- (Marketwire) -- 12/31/12 -- On December 31, 2012,
the Board of Directors of Zap (OTCBB: ZAAP), a California corporation
("Zap"), removed Priscilla M. Lu from the office of Chairman, from
all positions she holds on any committees of the Board of Directors
of Zap and from any offices or directorships she serves for any of
Zap's subsidiaries or joint ventures, effective immediately according
to an accompanying 8-K filing.
As part of the 8-K filing, the Board of Directors of Zap removed
Goman Chong from all positions he holds on any committees of the
Board of Directors of Zap, Michael Ringstad from the office of
Controller, and Charles Schillings from the offices of Co-Chief
Executive Officer, effective immediately.
The Board of Directors appointed Juan Gao and Luo Hua Liang to serve
on the Board of Directors until their successors are elected on
December 31, 2012, effective immediately.
The current directors of the Company as of December 31, 2012 are Mark
Abdou, Chairman, Alex Wang, Steven Schneider, Luo Hua Liang, Juan
Gao, Priscilla Lu and Goman Chong.
The Board of Directors eliminated the dual positions of Co-Chief
Executive Officers and confirmed Alex Wang to serve as Chief
Executive Officer of Zap until his successor is elected on December
31, 2012, effective immediately.
Also on December 31, 2012, the Board of Directors elected Mark Abdou,
current director of Zap, to the offices of Chairman and Secretary of
Zap and Jeff Schneider to the office of President of Zap to serve
until their successors are appointed, effective immediately.
Further information about the above Board Action was filed in an
accompanying 8-K filing with the Securities and Exchange Commission.
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