Integrated Silicon Solution, Inc. Board of Directors Promotes Scott Howarth to CEO
April 01 2008 - 4:30PM
PR Newswire (US)
SAN JOSE, Calif., April 1, 2008 /PRNewswire-FirstCall/ --
Integrated Silicon Solution, Inc. (NASDAQ:ISSI) today announced
that its Board of Directors has elected Scott Howarth as Chief
Executive Officer. Mr. Howarth has served as ISSI's President and
Chief Financial Officer since December 1, 2007, and as
Vice-President and Chief Financial Officer since February 2006. Mr.
Howarth will continue to act as the Chief Financial Officer until a
replacement is found. The company is currently undertaking an
active CFO search. Jimmy Lee, who has been ISSI's Chief Executive
Officer since he founded ISSI in 1988, will continue to serve as
Executive Chairman of the Board. In this role, Mr. Lee will focus
on longer-term strategy and also help in the transition of Mr.
Howarth into his new role while working reduced hours. "Scott has
extensive experience in the semiconductor industry and is well
versed with ISSI's operations. He has been a key member of the
executive team and has contributed significantly to the Company's
renewed business focus and return to profitability in the last two
years," said Mr. Lee, "We are delighted to announce the appointment
and promotion of Scott to the role of Chief Executive Officer." Mr.
Howarth stated: "I am excited to have this opportunity to lead ISSI
and extend the company's momentum from the last two years. I
believe ISSI has made strong progress, has the right strategy, and
has significant opportunities for the future. I look forward to
this new challenge and working with our customers and employees to
execute our strategy." Mr. Howarth has over 23 years of industry
experience having served as Chief Financial Officer at Chrontel
from 2001 to February 2006, Chief Financial Officer at Scout
Electromedia from 2000 to 2001, and with Intel Corporation from
1984 to 2000. A graduate from the University of Idaho, Mr. Howarth
holds an MBA degree in Finance and a B.S. degree in Mining
Engineering. About the Company ISSI is a fabless semiconductor
company that designs and markets high performance integrated
circuits for the following key markets: (i) digital consumer
electronics, (ii) networking, (iii) mobile communications and (iv)
automotive electronics. The Company's primary products are high
speed and low power SRAM and low and medium density DRAM. The
Company also designs and markets EEPROM, SmartCards and is
developing selected non-memory products focused on its key markets.
ISSI is headquartered in Silicon Valley with worldwide offices in
China, Europe, Hong Kong, India, Korea, Singapore, Japan, and
Taiwan. Visit our web site at http://www.issi.com/. Cautionary
Statement The statements in this release relating to our momentum,
strong progress, right strategy, and significant opportunities for
the future are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements involve risks and uncertainties that
could cause our actual results to differ materially, including, but
not limited to: supply and demand conditions in the market place,
unexpected reductions in average selling prices for our products,
our ability to sell our products for key applications and the
pricing and gross margins achieved on such sales, our ability to
control or reduce operating expenses, changes in manufacturing
yields, order cancellations, order rescheduling, product warranty
claims, competition, the level and value of inventory held by OEM
customers, or other factors. For a detailed discussion of these and
other risk factors, please refer to ISSI's filings on Forms 10-K
and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other
relevant documents for free at ISSI's Web site
(http://www.issi.com/) or the SEC's Web site (http://www.sec.gov/)
or from commercial document retrieval services. Stockholders of
ISSI are cautioned not to place undue reliance on our
forward-looking statements, which speak only as of the date such
statements are made. ISSI does not undertake any obligation to
publicly update any forward-looking statements to reflect events,
circumstances or new information after the date of this press
release, or to reflect the occurrence of unanticipated events.
DATASOURCE: Integrated Silicon Solution, Inc. CONTACT: Investor
Relations, Scott Howarth, CEO and President, Acting CFO of
Integrated Silicon Solution, Inc., +1-408-969-6600, Web site:
http://www.issi.com/
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