Robert W. Shaner to Become Chairman of the BoardSCOTTSDALE, Ariz., May 03, 2007 (BUSINESS WIRE) -- Mobility Electronics, Inc. (NASDAQ: MOBE), a leading provider of
innovative portable power and computing solutions, today announced the
appointment of Michael D. Heil to the position of President, Chief
Executive Officer, and a member of the board of directors, effective
June 11, 2007. Mr. Heil will replace Charles Mollo, who will retire
from the positions of President, Chief Executive Officer, and member
of the board of directors of Mobility Electronics, effective June 8,
2007. Robert W. Shaner, a member of Mobility's Board of Directors
since May 2004, will become Chairman of the board of directors upon
Mr. Mollo's retirement from the Company.
Mr. Heil has more than 30 years of experience in executive
management and sales leadership positions for major consumer
electronics companies such as Compaq Computer Corporation, Los Angeles
Cellular Telephone Company, Sony Corporation of America, Atari, and
Polaroid Corporation.
"We are very pleased to have attracted an executive of Mike Heil's
quality to take Mobility Electronics to the next level," said Robert
W. Shaner, Chairman of the Mobility CEO Search Committee. "Mike has
distinguished himself in senior management positions at some of the
leading companies in the consumer electronics industry, where he has
developed a successful track record for managing new product areas
from the development phase through broad commercial acceptance. Mike
excels at building sales teams, developing relationships with major
retail accounts on a worldwide basis, and generating profitable
growth. Mike's skill set and experience are ideally suited for
Mobility at this point in our evolution, and we believe his addition
will help ensure the execution of our vision and yield significant
benefits for our stockholders in the process.
"We would like to extend our deepest appreciation for the years of
hard work, dedication and leadership that Charlie Mollo has provided
to Mobility. He has guided the Company through challenging times and
leaves us with an excellent foundation for profitable growth in the
future. We wish Charlie all the best in his future endeavors," said
Mr. Shaner.
From 1998 to 1999, Mr. Heil was Senior Vice President, Worldwide
Sales and Marketing for Compaq Computer Corporation, where he was
responsible for sales, marketing, service and support for all Compaq
products and services worldwide. Prior to this, Mr. Heil was Senior
Vice President and General Manager, Consumer Products Group at Compaq
from 1995-1998, where he managed the development, marketing and sales
of all of the company's consumer products and services worldwide and
introduced the first portable computer designed for the consumer
market. Prior to joining Compaq, Mr. Heil was President and General
Manager of Los Angeles Cellular Telephone Company from 1989 through
1995, a period in which L.A. Cellular became one of the largest
cellular operating companies in the United States. As President, Mr.
Heil grew L.A. Cellular's revenues from $100 million to $700 million
in five years.
Since leaving Compaq, Mr. Heil has served as Chief Executive
Officer for several early-stage technology companies. Most recently,
Mr. Heil served as President and Chief Executive Officer of Astute
Networks, a fabless semiconductor company focused on the storage
market.
Mr. Heil's career also includes positions at the following
companies:
-- Sony Corporation of America (1985-1989) - Mr. Heil was
President of Sony's Display Products Company, managing the
direct view, projection TV and Watchman product lines. Mr.
Heil was also Vice President, Marketing and Vice President,
National Accounts, where he was responsible for developing and
implementing product line strategy for all television products
and directing sales efforts to national accounts.
-- Atari, Inc. (1982-1984) - Mr. Heil held a number of positions,
the most recent of which was Vice President, Sales, Western
Division, where he was responsible for the video game maker's
sales west of the Mississippi.
In addition, Mr. Heil currently serves on the board of directors
of Locus Telecommunications, a company engaged in the pre-paid
wireless and long distance business.
"I am very excited about joining Mobility Electronics at a time of
tremendous opportunity," said Mr. Heil. "Mobility's universal power
adapters fill a huge need in today's consumer electronics market for
more convenient, more functional power solutions. Our mission is
clear: we have to generate more awareness for our products among
consumers and demonstrate to major accounts that they can achieve
significant gross profit and inventory management benefits by carrying
our power solutions. I am confident that we can make consistent
progress on these goals and build Mobility into a significant player
in the consumer electronics industry. In the process, I believe we
will deliver improved financial performance and create strong value
for our stockholders."
About Robert W. Shaner
Robert W. Shaner has been a member of Mobility Electronics' board
of directors since May 2004 and is currently the Chairman of the
Compensation and Human Resources Committee and a member of the
Corporate Governance and Nominating Committee.
From December 2002 to September 2005, Mr. Shaner served as a
director of REMEC, Inc., a wireless equipment and military product
manufacturer, and from February 2004 to September 2004 served as its
Interim Chief Executive Officer. From January 2001 to February 2003,
Mr. Shaner served as the President of Wireless Operations for Cingular
Wireless, LLC, a joint venture between the wireless divisions of SBC
Communications Inc. and BellSouth Corporation.
From November 1999 to January 2001, Mr. Shaner served as President
and Chief Executive Officer of Pacific Bell Wireless and Southwestern
Bell Mobile Systems, providers of wireless communication services to
consumers and businesses. Mr. Shaner served as the President and Chief
Executive Officer of Pacific Bell Wireless from August 1998 to
November 1999. From March 1997 to July 1998, Mr. Shaner served as
President of SBCI Europe and Middle East for SBC International, Inc.
Prior to 1997, Mr. Shaner held various management positions at
Southwestern Bell Telephone/Telecom and Cellular One.
Mr. Shaner also currently serves as the Chairman of the Board of
Trustees of Central Methodist University. Mr. Shaner is also currently
a director of Interdigital Communications Corporation, and is a member
of the Audit Committee and Compensation and Human Resources Committee
at Interdigital.
"We believe Bob Shaner is an excellent choice for Chairman of the
Board," said William O. Hunt, lead independent director on Mobility's
Board of Directors. "Bob's experience in the wireless communications
industry is particularly valuable as we increase the Company's focus
on this market. We believe Bob and Mike will make an excellent
leadership team and serve the Company's stockholders well in the
future."
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a
developer of universal power adapters for portable computers and
mobile electronic devices (e.g., mobile phones, PDAs, digital cameras,
etc.) and creator of the patented iGo(R) intelligent tip technology.
Mobility Electronics' iGo brand offers a full line of AC, DC and
combination AC/DC power adapters for portable computers and low-power
mobile electronic devices. All of these adapters leverage the
Company's iGo intelligent tip technology, which enables one power
adapter to power/charge hundreds of brands and thousands of models of
mobile electronic devices through the use of interchangeable tips.
The Company also offers other accessories for the mobile
electronic device market, such as foldable keyboards.
Mobility Electronics' products are available at www.iGo.com as
well as through leading resellers, retailers and OEM partners. For
additional information call 480-596-0061, or visit
www.mobilityelectronics.com.
Mobility Electronics, iGo and ... improving your mobile experience
are registered trademarks of Mobility Electronics, Inc. All other
trademarks or registered trademarks are the property of their
respective owners.
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements relating to the belief that the changes to the
Company's executive management and board of directors will yield
significant benefits for the Company's stockholders; the belief that
the Company will deliver improved financial performance and create
strong value for its stockholders; the market potential of Mobility's
universal power adapters, and consumer awareness and potential
distribution for the power adapters. These forward-looking statements
are based on management's current expectations and beliefs and are
subject to risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements. In particular, factors that could cause actual results to
differ materially from those in the forward-looking statements include
the sell through rates of the Company's power adapters; delays or
cessation of shipments of the Company's products to major customers;
the timing and success of new product introductions; the development
and introduction of new products by us and our competitors; the
performance of suppliers and subcontractors; industry and general
economic or business conditions; and other factors detailed in our
filings with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date made and are not guarantees of
future performance. We undertake no obligation to publicly update or
revise any forward-looking statements.
SOURCE: Mobility Electronics, Inc.
Financial Relations Board
Tony Rossi, 310-854-8317
trossi@financialrelationsboard.com