The Board of Directors of Zap (ZAAP.OB,ZP) on December 31, 2012 removed Priscilla Lu from the office of Chairman. She was also removed from all positions 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. The decision was effective immediately.
The Board also 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 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.
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 the appointment of their successors.
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