SME Business Communication and Software Veteran Steven G. Mihaylo
Joins as CEO and Director
Donald Danks Resigns as CEO and Continues to Advise
OREM, Utah--(BUSINESS WIRE)--Nov. 6, 2008--iMergent, Inc.
(AMEX:IIG) a leading provider of eCommerce software for small
businesses and entrepreneurs, announced changes to its management and
board. Donald L. Danks resigned as CEO and as a director; he will
become a consultant to the company. Steven G. Mihaylo assumed the role
of CEO and has been appointed to the board of directors. The total
board count remains six members.
Todd A. Goergen, Chairman of iMergent, stated, "The board is
committed to driving iMergent's long-term growth and shareholder
value. We are excited to welcome Steve who will be leading our company
and exploring additional revenue opportunities in small-to-medium
enterprise (SME) initiatives."
"In addition, we thank Don for his valued contribution as iMergent
grew from less than $50 million in 2003 annual sales to exceed $125
million in fiscal 2008 under his leadership. Don will continue to
assist management as a consultant in the area of investor relations,"
Mihaylo, 64, is a retired chairman and chief executive officer of
Inter-Tel, Incorporated, which he founded in 1969. He led the
Inter-Tel evolution from providing business telephone systems to
offering complete managed services and software that help businesses
facilitate communication and increase customer service and
productivity. Before selling Inter-Tel to Mitel for $720 million in
2007, Mihaylo grew the business to nearly $500 million in annual
Mihaylo earned an honorary PhD from California State University -
Fullerton and received a Bachelor of Arts in Business Administration
in Accounting & Finance from the university in 1969. He has served on
boards of numerous community organizations including the Arizona Heart
Foundation, Junior Achievement of Arizona, Arizona Museum of Science
and Technology and the Arizona State University College of Business
Dean's Council of 100. Committed to education, Mihaylo is involved
with the Karl Eller College of Management at the University of Arizona
and has served on the advisory board of Junior Achievement of Central
Arizona for over 25 years, as a member of the board of directors of
the Big Bear High School Education Foundation and on the Dean's
Advisory Board of CSU-Fullerton.
iMergent provides eCommerce solutions to entrepreneurs and small
businesses enabling them to market and sell their business products or
ideas via the Internet. Headquartered in Orem, Utah, the company sells
its proprietary StoresOnline software and training services, which
help users build successful Internet strategies to market products,
accept online orders, analyze marketing performance, and manage
pricing and customers. In addition to software, iMergent offers
website development, web hosting and marketing products. iMergent
typically reaches its target audience through a concentrated direct
marketing effort to fill Preview Sessions, in which a StoresOnline
expert reviews the product opportunities and costs as well as offers
StoresOnline Express for sale. These sessions lead to a follow-up
Workshop Conference, where product and technology experts train
potential users on the software and sells upgrades to StoresOnline Pro
and StoresOnline Platinum. iMergent
Rob Lewis, CFO, 801-431-4695
Lippert/Heilshorn & Assoc.
Kirsten Chapman, 415-433-3777 (Investor Relations)
SOURCE: iMergent, Inc.