Computer Access Technology Corporation Announces the Retirement of Chief Executive Officer Dan Wilnai and New Appointments to Ex
July 22 2004 - 9:00AM
PR Newswire (US)
Computer Access Technology Corporation Announces the Retirement of
Chief Executive Officer Dan Wilnai and New Appointments to
Executive Management and the Board of Directors SANTA CLARA,
Calif., July 22 /PRNewswire-FirstCall/ -- Computer Access
Technology Corporation (CATC) (NASDAQ:CATZ), a communication
protocols expert company, announced today that co-founder and Chief
Executive Officer ("CEO") Dan Wilnai has decided to retire and that
the Board of Directors has accepted his resignation as CEO
effective immediately. Mr. Wilnai will remain actively involved in
the Company as its Chairman of the Board. The Company further
announced that effective immediately, the Board of Directors has
promoted Carmine J. Napolitano from President, Chief Financial
Officer and Secretary to President and CEO, and appointed him to
the Company's Board of Directors. The Board of Directors also
promoted Jason LeBeck from Director of Finance and Administration
to Vice President, Chief Financial Officer, and Secretary.
Additionally, the Company announced the appointment of John T.
Rossi to the Company's Board of Directors. Mr. Rossi, who is Vice
President of Finance and Chief Financial Officer of OmniVision
Technologies, Inc., will also serve on the Company's Audit
Committee. "Since returning from retirement two years ago to help
restructure the Company's growth strategy, I have worked very
closely with Carmine," said Wilnai. "I have enjoyed watching
Carmine use his unique skills and practical experience in all
facets of our business to bring out the best in CATC's management
team and employees. Carmine has the exceptional ability to
formulate sound, far-reaching, multi-layered business objectives
and to motivate and drive the organization to consistently execute
on those objectives. We have in CATC an excellent team of talented
and dedicated people, a very experienced management team and a
strong foundation of market share and technology leadership in the
rapidly growing markets for digital communication protocols.
Combined with CATC's exceptional business model and our strong
balance sheet, we are solidly positioned to grow the Company and
increase shareholder value. Under Carmine's leadership, we look
forward to continue our drive to satisfy our customer requirements
and to enhance our shareholders' value." "I am delighted to take on
this challenge as CATC's President and CEO," said Napolitano. "Over
the last two years, I have worked closely with Dan and the entire
management team to return CATC to profitability and position it for
a bright future. I particularly appreciate the confidence that Dan
and the Board have shown in me and intend to continue moving CATC
forward for the benefit of all of CATC's customers, shareholders
and employees. Additionally, I would like to thank Dan for his
unrelenting drive and dedication to CATC's success over the past 12
years. He retires from CATC's day-to-day operations having
assembled a superior team of driven, hard working and talented
employees and having established a solid roadmap for the future."
In September 2002, Mr. Napolitano joined CATC as its Vice
President, Chief Financial Officer, and Secretary and was promoted
to President in November 2003. Prior to joining CATC, Mr.
Napolitano was the Vice President of Finance & Administration
and Chief Financial Officer of Centric Software, a leader in
collaborative product lifecycle management (PLM) software, from
August 1995 until August 2002. From 1993 until 1995 he was
Treasurer at Wavefront Technologies, a leader in 3D animation
software. Mr. Napolitano received a BS in Mechanical Engineering
from the University of California, Santa Barbara and a MBA in
Finance from New York University. Mr. LeBeck joined CATC as its
Corporate Controller in November 2000 and was promoted to Director
of Finance and Administration in January 2004. Prior to joining
CATC, Mr. LeBeck was West Coast Controller for several divisions of
Lycos Inc., from February 1998 until November 2000. From 1997 until
1998, Mr. LeBeck was Corporate Controller for Compressent
Corporation, a leader in color fax technology. Previously he worked
at Ernst & Young as an audit professional. Mr. LeBeck received
a BS in Business Administration, with a Concentration in
Accounting, from California Polytechnic State University, San Luis
Obispo and is a certified public accountant. Mr. Rossi has served
as Vice President of Finance and Chief Financial Officer of
OmniVision Technologies, Inc., a maker of CMOS image sensors, since
September 2003 and was a member of OmniVision's Board of Directors
from September 2002 to February 2004. From April 1990 to September
2002, Mr. Rossi served in various capacities at Robertson Stephens
and Company, an investment bank, most recently as a managing
director of investment banking and as a member of the commitment
committee. Mr. Rossi holds a B.A. from Lafayette College, a M.A.
from Tulane University and a M.B.A. from Stanford University. About
CATC CATC, a communication protocol expert company, provides
advanced verification systems and connectivity products for
existing and emerging digital communications standards such as
Bluetooth, Fibre Channel, IEEE 1394, InfiniBand, PCI Express, SCSI,
Serial ATA, Serial Attached SCSI (SAS) and USB. CATC products are
used by semiconductor, device, system and software companies at
each phase of their products' lifecycles from development through
production and market deployment. CATC's expert protocol analysis
systems allow customers to monitor communications traffic, diagnose
design and operational problems and confirm interoperability and
standards compliance. Technicians also use CATC's test and analysis
products on production lines and for maintenance of deployed
systems and networks. CATC was founded in 1992 and is headquartered
in Santa Clara, California. For more information regarding CATC and
its products, please visit http://www.catc.com/ . Regarding
Forward-Looking Statements This press release may contain
forward-looking statements based on CATC's current expectations,
such as availability of product, market acceptance and competition,
management capability and experience, levels of growth,
profitability and shareholder value. These forward-looking
statements involve risks and uncertainties. A number of important
factors could cause actual results to differ materially from those
in the forward-looking statements, such as CATC's production of new
products, market acceptance of its products, competitive pressures,
management performance, success of growth, profitability and
increased shareholder value. These factors, as well as other
factors that could cause actual results to differ materially, are
discussed in more detail in CATC's Annual Report on Form 10-K,
filed February 20, 2004, as amended by its Form 10-K/A filed on
March 3, 2004, its most recent Form 10-Q filed on May 13, 2004 and
subsequent filings CATC may make with the SEC, as amended, which
can be viewed at the Securities and Exchange Commission's website
at http://www.sec.gov/ . NOTE: CATC, and Computer Access Technology
Corporation are proprietary marks of Computer Access Technology
Corporation. All other company names and marks may be trademarks of
the respective companies with which they are associated.
DATASOURCE: Computer Access Technology Corporation CONTACT: Jason
LeBeck, +1-408-486-7202, or Web site: http://www.catc.com/
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