Burbank, Calif. (PRWEB) April 9, 2007
Zuma Beach Entertainment, Inc. ("Zuma") today announced the resignation of Daniel P. Cannon as Chief Executive Officer (C.E.O.) and the appointment of Mark Savoy as the new C.E.O.
Effective immediately, Daniel P. Cannon has tendered his resignation to the board of directors of Zuma. Board Member Mark Savoy has been appointed as the new C.E.O. Cannon is leaving voluntarily and as planned, to return to the investment banking business to further assist Zuma. Cannon said, "It is time in the Company's evolution to turn the leadership over to management with extensive experience in the entertainment and content business." He further said, "My role as Founder and CEO of Zuma has been a very challenging and a pleasant experience however, it's now time that the Company capitalize on the assets that Zuma has been able to acquire over the last 3 1/2 years, …Mark Savoy is the right man for this endeavor. Savoy's experience and drive will lead Zuma, build shareholder value and help realize my vision for the company." Cannon will return to Wall Street, and remain a strong supporter of Zuma and continue to help facilitate its future growth.
Mark Savoy, Chairman and CEO of Exchangemall.com and First National Information Network (FNIN), has over 20 years of experience in the finance industry as well as 18 years in the trading or brokerage industry. From 1990 to 1992, Mr. Savoy acted as president of the World Trade Consortium, an international trading company, and currently sits on the Board of Directors of several public trading companies. In addition, Mr. Savoy is a director of Alpine Pictures, Inc., an independent film company that has produced several feature films.
About Zuma Beach Entertainment
Zuma Beach Entertainment, Inc (OTC: ZMBC.PK) is an entertainment Company that develops, licenses and distributes film and animation, and sports entertainment products for all audiences. The Company aims to build a comprehensive entertainment library that exceeds consumer demand for high quality, captivating entertainment with an objective of creating maximum shareholder value.
Zuma Beach Entertainment uniquely markets and establishes the distribution of products and merchandise specific to each entertainment property, released to meet the needs of each specific target market. The Company has identified a network of distribution channels to enable the superior delivery of its entertainment products and properties to market, to maximize licensing opportunities, to attain maximum profit potential, and to achieve economies of scale.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" relating to Zuma Beach Entertainment within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding future events, our financial performance and operating results, our business strategy and our financing plans are forward-looking statements. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "would," "should," "could," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These statements are only predictions. Known and unknown risks, uncertainties and other factors could cause actual results to differ materially from those contemplated by the statements. In evaluating these statements, you should specifically consider various factors that may cause our actual results to differ materially from any forward-looking statements.
Director of Investor Relations
Source: Zuma Beach Entertainment, Inc.