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ZipRealty hires new CFO

Eric Mersch comes on board in midst of downsizing

Technology-based brokerage ZipRealty Inc. has appointed Eric L. Mersch as the company's chief financial officer and chief accounting officer.Mersch, 44, succeeds David A. Rector, who joined ZipRealty in 2002 and will stay with the company during a transition period until his retirement later this year.Mersch has served as CFO at a number of companies, including Imaging Advantage LLC, Sonim Technologies Inc., DemandFlexLLC, Razorgator Inc. and VitalStream Inc.After graduating from the the U.S. Naval Academy with a bachelor of science degree, Mersch served for seven years as a division officer aboard the U.S.S. Los Angeles, a nuclear submarine. He also holds an MBA from Harvard Business School, and a master's in nuclear power engineering.Mersch will receive an annual base salary of $275,000, ZipRealty said in a regultory filing. The compensation committee of ZipRealty's board of directors has recommended that Mersch be granted an option to purchase up to 250,000 shares of the company’s...

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