Zap’s Board of Directors Shakes Company’s Calif Management

Big changes are happening at the management level of Californian electric vehicle distributor Zap Jonway.

Yesterday, the Board of Directors of Zap, a California corporation (Zap), removed Priscilla M. Lu from the office of Chairman, from all positions she holds 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 is effective immediately according to an 8-K filing with the Securities and Exchange Commission.

Also as part of the 8-K filing, the Board of Directors of Zap 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 appointed Juan Gao and Luo Hua Liang to serve on the Board of Directors until their successors are elected.

The current directors of the Company as of Dec. 31, 2012 are Mark Abdou, Chairman, Alex Wang, Steven Schneider, Luo Hua Liang, Juan Gao, Priscilla Lu and Goman Chong.

Zap says 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 Dec. 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 their successors are appointed, effective immediately.

For investors interested in learning more about these changes, further information about the above Board Action was filed in an 8-K filing with the Securities and Exchange Commission.