Press Release
iJET Travel Risk Management Announces Shift in Chairmanship
Annapolis, Maryland - March 16, 2004 - iJET Travel Risk Management, the industry leader in real-time travel risk management services for multinational corporations, today announced that John Power has resigned his position as Chairman of iJET's Board of Directors. Mr. Power has overseen iJET´s development from an early stage company to a recognized leader in it´s field, initially as CEO, and more recently as non- executive Chairman of the Board.
Mr. Power stated, "I´ve been fortunate to see iJET grow from a development stage company to a self-sustaining enterprise with over 350 multinational clients. I am proud of our accomplishments to date which have included multiple awards for excellence in technology along with industry recognition as an innovator in the field of real time risk management. With the recent completion of a financing that puts iJET on a strong financial footing, I feel my work is done and I must turn my attention to new initiatives. I look forward to monitoring iJET's continued progress and will make myself available to my colleagues as needed."
In reflecting on Mr. Power&Acute;s tenure with the Company, iJET CEO Bruce McIndoe stated, "John´s guidance and firm direction to stay the course was critical to the Company ultimately surviving one of the most draconian downturns the corporate travel market has experienced. We will be forever indebted to John for putting us on the map within the travel industry and being the "voice of experience" that we could rely on. That experience was important to our ability to develop key travel industry partnerships as well as complete two acquisitions within an eight month period of time."
Mr. McIndoe will be assuming Mr. Power&Acute;s title of Chairman while remaining CEO of iJET. The Company recently completed a $5.4 million equity financing and has been recently recognized by InfoWorld as one of the 100 most innovative technology companies globally. Mr. McIndoe was recognized as one of the 25 most influential corporate travel executives by Business Travel News in 2002. John Power is former CEO of Avionitek, was Deputy CEO of Air France, Chairman of Amadeus, and remains active as a senior advisor/investor in the travel industry.
About iJET Intelligent Risk Systems
iJET Intelligent Risk Systems is a leader in business resiliency, helping multinational corporations and government organizations monitor, protect against and respond to global threats. Integrating world-class open source intelligence with patented technology, iJET’s award-winning Worldcue® solutions help clients monitor and assess global threats relative to their key people, facilities and supply chain assets; automatically track and communicate with travelers and expatriates; and deploy emergency response services throughout the world at a moment's notice. Providing a unified view of threats to assets, iJET enables clients to mitigate risks, reduce corporate liability and prepare for and respond to business disruptions.
