Simtek Announces Changes In Board of Directors
20 Febbraio 2008 - 12:30PM
Business Wire
Simtek Corporation (NASDAQ: SMTK), the inventor, pioneer, and
world�s leading supplier of nonvolatile static random access memory
(nvSRAM) integrated circuits, today announced that it has made
changes to its Board of Directors to enable higher focus on its
newly formed subsidiary, AgigA Tech, Inc., and to separate the
roles of Chairman of the Board and Chief Executive Officer of the
Company. As previously announced, Ron Sartore resigned effective
February 13, 2008 as a Director of Simtek to spearhead AgigA Tech
and will serve as its president and on its board of directors. He
will not be immediately replaced on the Simtek board. Sartore will
be joined on the AgigA Tech board of directors by Harold A.
Blomquist, Simtek's CEO, as executive chairman, and Brian Alleman,
Simtek�s CFO as Secretary/Treasurer. The Simtek Board of Directors
has chosen to separate the positions of Chairman of the Board of
Simtek and Chief Executive Officer of the Company. Effective
February 13, 2008, Harold Blomquist will be replaced as Chairman of
the Board. Mr. Robert Pearson, who has served as a Director of the
Company since June 2002, will become non-executive Chairman of the
Board. Mr. Pearson is Senior Vice President of Renn Group, Inc., an
investment advisory firm. Harold Blomquist will remain as Chief
Executive Officer and Director. �These changes will accomplish two
important things,� said Pearson. �First, we will enhance our focus
on the successful launch of AgigA Tech and on the day-to
day-running of our business and second, we will bring the structure
of our Board of Directors in line with best governance practices
where the roles of the independent directors and management are
more clearly separated.� �Simtek has been developing and
strengthening its board consistently over the last several years,�
stated Blomquist. �As we added new experienced and independent
directors, John Hillyard and Philip Black, this is a natural step
in the continuous improvement of all aspects of Simtek and will
help the Company as it strives for improved shareholder value.� �I
look forward to the help of Mr. Pearson and the other independent
directors as we launch AgigA Tech and as we pursue the
opportunities related to the continued growth of Simtek,� Blomquist
concluded. About Simtek Corporation Simtek Corporation designs and
markets "NV + fast SRAM" nonvolatile semiconductor memory products
for use in a variety of systems including RAID servers, storage
arrays, GPS navigational systems, industrial controllers, robotics,
copiers, avionics, metering, consumer, UPS, and networking and
broadcast equipment. Information on Simtek products can be obtained
from its web site: www.simtek.com; email: information@simtek.com.
The company is headquartered in Colorado Springs, Colorado.
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements
predicting Simtek's future growth. These forward-looking statements
are inherently difficult to predict and involve risks and
uncertainties that could cause actual results to differ materially,
including, but not limited to, projections of future performance
including predictions of future profitability and expectations of
the business environment in which Simtek operates. For a detailed
discussion of these and other risk factors, please refer to
Simtek's filings with the Securities and Exchange Commission (SEC),
including its Annual Report on Form 10-K and subsequent Form 10-Q
and Form 8-K filings.
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