Mobiquity Technologies, Inc. Announces the Appointment of Three New Independent Board Members

Rhea-AI Summary

Mobiquity Technologies has announced the appointment of three new independent directors to its board: Peter L. Zurkow, Michael A. Wright, and Anthony Iacovone, effective December 8, 2021. This moves comes on the heels of a successful $10.3 million public offering, enhancing the company's position for long-term growth. The board now consists of five members, with an independent majority, aiming to improve corporate governance. The leadership changes are expected to accelerate revenue and scale the business, reflecting Mobiquity's commitment to transforming advertising transactions through its proprietary platforms.

Positive

• Successful $10.3 million public offering strengthens financial position.
• Addition of three independent directors enhances board expertise.
• Majority independent board expected to improve corporate governance.
• Leadership changes aim to accelerate revenue and business scaling.

Negative

• None.

Following Successful $10.3 Million Public Offering, Mobiquity Technologies Stronger and Well-Positioned for Long-Term Success

NEW YORK, Dec. 14, 2021 (GLOBE NEWSWIRE) -- Mobiquity Technologies, Inc. (NASDAQ: MOBQ) (the “Company”), a leading provider of next-generation advertising, today announced the appointments of Peter L. Zurkow, Michael A. Wright, and Anthony Iacovone to the Mobiquity Technologies Board of Directors, effective, December 8, 2021. Following the appointments of Zurkow, Wright and Iacovone, the Board will comprise 5 directors, the majority of whom are independent.

“We are pleased to welcome Peter, Michael and Anthony to the Mobiquity Technologies board as new independent directors,” said, Gene Salkind, M.D., chairman of the board for Mobiquity Technologies. “These appointments come at an exciting time for the Company, as we continue our mission to expand our next-generation platform for data and advertising, accelerate our revenue and scale the business. Their collective extraordinary backgrounds, diverse viewpoints, and expertise will complement and further enhance the skills and perspectives represented on our Board. We look forward to their contributions.”

New Board Member Bios

• Peter L. Zurkow has served as a consultant to Sustainability Industries since 2019. From 2014 to 2019, he worked at Perpetual Recycling Solutions LLC where he served as the Chief Executive Officer. From 2011 to 2013, Mr. Zurkow worked at Britton Hill Capital where he served as Managing Director and Head of Corporate Finance. From 2010 to 2012, Mr. Zurkow worked at Advanced Brain Technologies where he served as Acting EVP and Director of Finance and Business Development. Mr. Zurkow has previously worked in management positions in investment banking, fixed income and asset management as various securities firms and funds. Mr. Zurkow is a graduate of Harvard College, with an A.B., cum laude, and a graduate of Syracuse University College of Law, with a J.D., magna cum laude. From 2012 to 2014, Mr. Zurkow served as a director and member of the audit committee for National Holdings Corporation, a public company until it was acquired by Fortress Biotech. From 1992 through 2005 Mr. Zurkow served as Director (and Chairman of the Board from 1999 to 2002) of Penn Traffic, a public company until it was acquired by Giant Eagle and Tops Markets. From 1996 to 1998 he served as a Director of Streamline, Inc., a former public company. From 1994 through 1996 Mr. Zurkow served as a director and representative of majority investor for Kash n’ Karry Supermarkets, then a public company.

• Michael A. Wright currently serves as Executive Vice President and the head of Human Resources and Diversity Practice at Seiden Krieger Associates, since 2021. From 2009 to 2019, Mr. Wright worked at Covanta Holding Corporation where he served as Chief Human Resources Officer. From 1984 to 2008, Mr. Wright worked at the Atria family of companies (Kraft and Philip Morris) where he served in various roles including Vice President of Human Resources and HR Technology. Mr. Wright is a graduate of North Carolina State University, with a B.S, and a graduate of Columbia University with an MBA. Mr. Wright currently serves as the Chair of the HR/Legal committee and Vice Chair of the Board of Directors of the YMCA of Greater Monmouth County. He is also a member of the Board of Trustees and President of the Advisory Council for Lunch Break.

• Anthony Iacovone is currently the Co-Founder and, since 2018, has served as the Chief Executive Officer of BioSymetrics, Inc. and Barometric Inc. From 2010 to 2018, Mr. Iacovone worked at AdTheorent/Ad Tech where he served as the Chief Executive Officer. Mr. Iacovone serves as an advisory board member of Accelerate NY Biotech Seed Fund, BrandVerge, Commerce Signals, EVZDRP, PainQX, Prospect Dugout, Targagenix and Wylie. As an advisory board member Mr. Iacovone provides counsel on business and advertising technology industry issues. He is also the founder of the Beautiful Lives Project, a not-for-profit organization that brings sports and leisure accessibility to disabled individuals throughout the United States.

Dean Julia, CEO of Mobiquity Technologies, commented, "It brings me great pleasure to see the continuing evolution of Mobiquity, not only in terms of the opportunity in front of the company, but also the commitment to be at the forefront of corporate governance. We’ve added extensive experience to our board with three new members, and we’re excited by the collective expertise the board will bring to Mobiquity as we transform how advertisers and publishers transact with each other utilizing our proprietary software platforms and position the company for long-term growth and profitability.”

With these new appointments, the updated Board of Directors is composed of 5 directors, the majority of whom are independent:

• Gene Salkind, M.D. – Chairman
• Dean Julia – CEO
• Peter Zurkow
• Michael Wright
• Anthony Iacovone

Zurkow will serve as Chairperson of the Audit Committee, and as a member of the Compensation Committee and Nominating and Corporate Governance Committee. Wright will serve as Chairperson of the Compensation Committee and as a member of the Audit Committee and Nominating and Corporate Governance Committee. Iacovone will serve as Chairperson of the Nominating and Corporate Governance Committee, and as a member of the Audit Committee and of the Compensation Committee.

About Mobiquity Technologies
Mobiquity Technologies, Inc. is a next generation, Platform-as-a-Service (PaaS) company for data and advertising. The Company maintains one of the largest audience databases available to advertisers and marketers through its data services division. Mobiquity Technologies’ Advangelists subsidiary (www.advangelists.com) provides programmatic advertising technologies and insights on consumer behavior. For more information, please visit: https://mobiquitytechnologies.com/

Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Mobiquity Technologies, Inc. Investor Relations
TraDigital IR
Kevin McGrath
+1-646-418-7002
kevin@tradigitalir.com    

FAQ

What are the recent board appointments at Mobiquity Technologies on December 8, 2021?

Mobiquity Technologies appointed Peter L. Zurkow, Michael A. Wright, and Anthony Iacovone as new independent directors to its board.

How does the new board composition at Mobiquity Technologies impact corporate governance?

The new board composition includes a majority of independent directors, which is expected to enhance corporate governance and oversight.

What financial move did Mobiquity Technologies undertake recently?

Mobiquity Technologies successfully completed a $10.3 million public offering.

What is the significance of the $10.3 million public offering for Mobiquity Technologies?

The $10.3 million public offering strengthens Mobiquity's financial position for future growth and business scaling.

What roles will the new directors hold in the Mobiquity Technologies Board?

Zurkow will chair the Audit Committee, Wright will chair the Compensation Committee, and Iacovone will chair the Nominating and Corporate Governance Committee.