Xhibit Corp New Board of Directors
We have news coming out of Xhibit Corp. (OTCQB: XBTC) , the leading provider of digital marketing and advertising solutions based in Tempe, AZ, has appointed Mr Peter L. Ax and David P. Franke to Xhibit Corp the Board of Directors.Peter L. Ax is the managing partner of Phoenix Capital Management, an operationally focused venture capital firm. Mr. Ax has also serveds on the boards of directors of Meritage Homes Corporation (NYSE: MTH), since September 2000 and iGo, Inc. (NASDAQ: IGOI) since December 2007 and also serves on the advisory Bboard of Directors of Cascadia Capital, a Seattle-based investment banking and merchant banking firm.. He is the former cChairman and Cchief Eexecutive Oofficer of SpinCycle, Inc., a publicly held company that formerly engaged in consolidating and developing of coin-operated lLaundromats. Previously, Mr. Ax served was head of the private equity division and senior vice president of Lehman Brothers in New York. and has served in various operating roles for enterprises operated by Phoenix Capital Management.
Mr. Ax holds an MBA from the Wharton School at the University of Pennsylvania and a law degree from the University of Arizona, and has been a certified public accountant. He has also been an accounting instructor at the Wharton School and serves annually as a judge for the Wharton Business Plan Competition..
Peter L. Ax serves on the board of Meritage Homes, the ninth-largest public homebuilder in the United States based on homes closed in 2011. He is the former chairman and chief executive officer of SpinCycle, Inc., a publicly held company engaged in consolidating and developing of coin-operated Laundromats. Mr. Ax has been a director and is the managing partner of Phoenix Capital Management, an investment banking and merchant banking firm, since September 2000. Previously, Mr. Ax served was head of the private equity division and senior vice president of Lehman Brothers in New York. He also currently serves on the Board of Directors of Medit Marketing, Inc., and on the advisory Board of Directors of Cascadia Capital, a Seattle-based investment banking and merchant banking firm.
Mr. Ax holds an MBA from the Wharton School at the University of Pennsylvania and a law degree from the University of Arizona, and has been a certified public accountant. He has also been an accounting instructor at the Wharton School.
David P. Franke is an experienced corporate financial manager, and is currently a Principalle at Franke & Company, Inc., a private equity investment firm headquartered in Phoenix, Arizona. The company has two active funds under management – Indigo Partners, which is focused on the airline industry and Franke & Company, Inc., a family fund focusesing on local and regional investment opportunities, as well as real estate transactions.
From 1987 to 1991 , Mr. Franke spent four years workingworked for Burns International, which at from 1987 to 1991. At the time, it was one of the largest real estate development companies in the Phoenix area, with a focus on developing master planned communities. Since 1991, he has focused on the day-to-day management of Franke & Company, Inc. As the managing director, he has assessed and underwritten hundreds of investment opportunities, participated in the negotiations of company investments, and assisted in the management of various investments within the company portfolio. These include the management of two company-owned television stations, a heavy manufacturing operation serving the petro-chemical industry, investment decisions for numerous co-investments led by other partners of Franke & Company, as well as significant real estate ventures.
David P. Franke graduated with a B.A. in political science from University of Washington and received his MBA from Arizona State University.
Xhibit Corp. Chairman, Founder and CEO, Chris Richarde commented, “The addition of Peter Ax and David Franke are brings great compliment greater diversification to our board and the Company now has a majority of independent directors, all of whom can qualify as audit committee financial experts under SEC rules.. They both possess an excellent depth of experience in corporate financial management, having worked extensively in the asset and fund management fields. They are very familiar with our business and have personal experience and knowledge of what it takes to successfully grow and manage a business from the early stage to the scale of a significant senior scale of a public company. We are grateful to have them serve on our board and look forward to their contributions.”
For more information you can check out Xhibit propeties and Social media sites at:
http://www.xhibitcorp.com/about-us
https://plus.google.com/114486615323737966485/about
https://www.facebook.com/xhibitcorp
