Retail and Financial Expert Peter Hanelt Appointed to Silicon Image Board
May 19 2005 - 5:25PM
PR Newswire (US)
Retail and Financial Expert Peter Hanelt Appointed to Silicon Image
Board SUNNYVALE, Calif., May 19 /PRNewswire-FirstCall/ -- Silicon
Image, Inc. (NASDAQ:SIMGE), a leader in multi-gigabit semiconductor
solutions for the secure transmission and storage of rich digital
media, today announced the appointment of Peter Hanelt to the
company's board of directors. A seasoned retail and consumer
markets executive, Hanelt has spent the last 30 years in CEO, COO
and CFO roles for a variety of public and privately held companies.
He is president and founder of a consulting firm specializing in
improving operating results, and providing expertise in corporate
governance and Sarbanes-Oxley compliance for companies of varying
sizes and spanning multiple industries. Most recently Hanelt served
as COO and chief restructuring officer of specialty consumer
electronics retailer, Good Guys, from 2001-2003, where he led the
company from seven years of fiscal losses to profitability in a
single year, leading to its successful sale and merger with CompUSA
in 2004. Prior to that, Hanelt served as CEO of Natural Wonders, a
national retailer and Nasdaq-listed company; COO and CFO of Esprit
De Corp, a global apparel manufacturer and retailer; COO and CFO
for Post Tool, Inc., a commercial tools manufacturer and retailer;
and COO and CFO of Magnetti-Farrow, Inc., a previously private
executive and luxury gift items company and subsequently subsidiary
of A.T. Cross Co., where he was responsible for leading a broad
range of turnaround, acquisition, banking and operational
activities aimed at growing and improving company profitability.
Hanelt was also a principal of Regent Pacific, a company providing
interim executive officers and strategic consulting for its client
companies. Silicon Image President and CEO, Steve Tirado, stated,
"Pete brings extensive executive-level operating and financial
expertise to the Board. His demonstrated success in leading public
companies during periods of dramatic change and delivering improved
financial results, combined with his vast experience in the retail
and consumer markets, will be of tremendous value to Silicon Image
as we strive for growing profitability and further expand our
consumer offerings." Hanelt commented, "Silicon Image has achieved
strong market acceptance of its products and technology standards
and has a unique opportunity to capitalize on its success as the
consumer, PC and storage markets further converge to address
anytime access to rich digital content. I am excited to join the
Silicon Image Board and look forward to representing shareholders,
and to helping the company to execute on its product and financial
strategy." Hanelt has also held CFO, vice president of finance and
controller positions at two hospitals in the San Francisco Bay
Area: Valley Memorial Hospital and Saint Francis Memorial Hospital;
and earlier spent five years on the audit and tax staff at Deloitte
& Touche. Hanelt served four years with the U.S. Army and 18
years as an officer in the reserves. He currently sits on the
boards of Shoe Pavilion, Inc. and PATELCO and serves on the audit
committee of Catholic Healthcare West. Hanelt is a certified public
accountant and holds a master's degree in business administration
from the University of California, Berkeley and a bachelor's degree
in civil engineering from the United States Military Academy at
West Point. About Silicon Image Headquartered in Sunnyvale, Calif.,
Silicon Image, Inc. designs, develops and markets multi-gigabit
semiconductor and system solutions for a variety of communications
applications demanding high-bandwidth capability. With its
proprietary Multi-layer Serial Link (MSL(TM)) architecture, Silicon
Image is well positioned for leadership in multiple mass markets
including PCs, consumer electronics and storage. Currently, Silicon
Image leads the global PC/display arena with its innovative digital
interconnect technology, and has emerged as a leading player in the
consumer electronics and storage markets by offering robust,
high-bandwidth semiconductors. For more information on Silicon
Image, visit http://www.siliconimage.com/. Forward-looking
Statements This news release contains forward-looking information
within the meaning of federal securities regulations. These
forward-looking statements include statements related to the
benefits of changes in Silicon Image's board composition. These
forward-looking statements involve risks and uncertainties,
including those described from time to time in Silicon Image's
filings with the Securities and Exchange Commission (SEC), that
could cause the actual results to differ materially from those
anticipated by these forward-looking statements. In particular, see
"Management's Discussion and Analysis of Financial Condition and
Results of Operations-Factors Affecting Future Results" in the most
recent Annual Report on Form 10-K filed by Silicon Image with the
SEC. Silicon Image assumes no obligation to update this
forward-looking information. NOTE: Silicon Image, MSL and
http://www.siliconimage.com/ are trademarks or registered
trademarks of Silicon Image, Inc. in the United States and other
countries. DATASOURCE: Silicon Image, Inc. CONTACT: Darrel Slack,
Chief Financial Officer of Silicon Image, Inc., +1-408-616-1550, or
fax, +1-408-830-9531, or Web site: http://www.siliconimage.com/
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