March 24, 2009

Paradox Marine Forms New Executive Leadership Team

Fort Lauderdale, Florida (USA) – Paradox Marine has created a new corporate executive team to direct the next phase of its growth as a leading supplier of wireless boat security, monitoring, GPS tracking and surveillance systems. Together with Paradox Security Systems, Paradox Marine products are distributed in over 100 countries worldwide and combined, the two companies are among the top ten security systems providers worldwide. Jay Keenan, formerly Vice President of Sales & Marketing, has been promoted to President & Chief Executive Officer. Marc Curreri, formerly President of Paradox Marine, has been named Chief Operating Officer and Erin West, formally Chief Financial Officer of CSU Development Corporation, has joined the company as Chief Financial Officer. Together, the new executive team has over 30 years combined experience in corporate administration, financial management, sales and marketing.

The new executive team for boat security systems supplier Paradox Marine. Left to right: Jay Keenan, President & CEO; Erin West, CFO; and Marc Curreri, COO.

Paradox Marine products include:

Marine Magellan Insight Wireless Boat Security, Monitoring, Surveillance & GPS Tracking System -
Unique wireless security, monitoring & surveillance system with GPS satellite tracking. Insight includes all the components necessary to help protect a boat and monitor exactly what is happening onboard at all times. The system notifies a boat owner or captain if there’s high water in the bilge, low battery voltage, loss of shore power, smoke or heat detection. If the boat is moved without authorization or stolen, Insight will send a message every 15 minutes with the vessel’s speed, heading, latitude and longitude, and distance to closest city.

NAV-TRACKER 2.0 GPS Tracking System -
When a Nav-Tracker 2.0 transmitter is mounted discreetly on a boat, a wireless ‘geo-fence’ with a 500-meter radius is created. If a boat is moved outside of this geo-fence, the Nav-Tracker 2.0 uses Inmarsat based GPS satellite technology to monitor a boat’s location and notify up to ten people by email and/or text message every 15 minutes with the latitude/longitude, speed, heading and distance to closest city. Some insurance companies now require GPS tracking devices to be installed on certain types of boats, including high performance boats and boats with triple high-horsepower outboards.