Daily Journal Corporation Announces New Chairman and CEO

Existing Team Members Promoted to New Leadership Roles

LOS ANGELES, March 28, 2022 (GLOBE NEWSWIRE) -- Daily Journal Corporation is pleased to announce that Steven Myhill-Jones has been selected as the company’s new Chairman and Interim Chief Executive Officer effective today. Mr. Myhill-Jones will succeed Gerald Salzman as CEO. Mr. Salzman is retiring after more than 44 years of dedicated and multi-faceted service to the company. Charles Munger will relinquish the chairman title, but will continue serving as a director, and as such will continue to pay particular attention to matters with which he has been involved in the past, including the company’s securities portfolio.

Mr. Myhill-Jones is a Canada-based technology executive, entrepreneur and investor. He founded and bootstrapped web-based geography software company Latitude Geographics at the age of twenty-three. Latitude (now VertiGIS) grew to a global client base of 1,400 clients—from small municipalities to Fortune 500 companies and the United Nations—before being acquired in 2017. Mr. Myhill-Jones has also been an angel investor, and an advisor and mentor to technology businesses and entrepreneurs.

“We are incredibly fortunate that Steven found his way into our lives. He’s whip smart and full of energy,” said Mr. Munger. “He’s exactly the kind of leader we need at Daily Journal and Journal Technologies to take our business into the future. Steven was part of a team that built a very successful technology company out of nothing, and he ran it for a long period of time, with tenacity, patience and a focus on customer service. And he’s hungry to do more!”

“Jerry has spent more than half his life working at the Daily Journal, and he’s 83 years old. Imagine that! And he did it all. A director, President, CEO and CFO,” said Mr. Munger. “His ability to wear so many hats was a crucial part of what helped our little company grow, evolve and expand. He led the company during an incredibly challenging time for newspapers, while also building out a promising court software business in what is a terribly difficult but dynamic market. It’s impossible to imagine a more capable manager or better teacher, and the shareholders of the company owe Jerry a big debt of gratitude.”