Artesyn Technologies Appoints Marc Weisman, JANA Partners Designee, To Board of Directors
July 13 2005 - 5:05PM
PR Newswire (US)
Artesyn Technologies Appoints Marc Weisman, JANA Partners Designee,
To Board of Directors BOCA RATON, Fla., July 13
/PRNewswire-FirstCall/ -- Artesyn Technologies, Inc. (NASDAQ:ATSN)
today confirmed the appointment of Marc A. Weisman to its Board of
Directors. As previously announced, Artesyn has entered into a
confidentiality, standstill and board representation agreement with
JANA Partners LLC ("JANA"), a significant shareholder of Artesyn's
outstanding shares. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050117/FLMLOGO ) Joseph
O'Donnell, Artesyn's Chairman, President and Chief Executive
Officer, said, "I would like to welcome Marc to the Board of
Directors. With his longstanding career in the legal and investment
banking fields, we believe Marc, as JANA's designee, will offer
positive input while working with other members of the Board in
evaluating strategic opportunities for Artesyn." Barry Rosenstein,
JANA's Managing Partner, said, "We are very pleased to have our
designee appointed to Artesyn's Board of Directors. We look forward
to working constructively with the other members of the Board in
pursuit of the best possible result for all shareholders." Bio on
Marc A. Weisman Mr. Marc A. Weisman has served in the legal and
investment communities for more than 25 years. He co-founded
Sagaponack Partners LP in 1996 and is currently a principal of this
private equity investment partnership. Prior to co-founding
Sagaponack, Mr. Weisman was a director in the principal
transactions group at Credit Suisse First Boston. Before that, Mr.
Weisman was the CFO and head of investments at The Adco Group, a
diversified real estate and financial services company, for
approximately seven years. Prior to Adco, Mr. Weisman was CFO of
Oppenheimer & Co., Inc. and a partner at Weil, Gotshal &
Manges, a major national law firm. About Artesyn Technologies, Inc.
Artesyn Technologies, Inc., headquartered in Boca Raton, FL., is a
world leader in the design, manufacture and sale of power
conversion and embedded board solutions for infrastructure
applications in server and storage, networking, wireless and
telecommunications systems. The Company's products are used in
middle to high-end servers, data storage devices, routers, hubs,
high-speed modems, RF amplification systems, base station
controllers and transceivers. The Company has a global sales reach
with design and manufacturing facilities in Asia, Europe and North
America. Artesyn is a public company whose common stock is traded
on the Nasdaq stock market under the symbol ATSN. For more
information, please visit the Company's web site at
http://www.artesyn.com/ .
http://www.newscom.com/cgi-bin/prnh/20050117/FLMLOGO
http://photoarchive.ap.org/ DATASOURCE: Artesyn Technologies
CONTACT: Investors, Pamela Rembaum, Director, Investor Relations of
Artesyn, +1-561-451-1028; or Media, Sharon Goldstein of Joele
Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, for Artesyn Web
site: http://www.artesyn.com/ x
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