SRS Labs Announces the Appointment of New Chief Financial Officer
December 29 2005 - 4:30PM
PR Newswire (US)
SANTA ANA, Calif., Dec. 29 /PRNewswire-FirstCall/ -- SRS Labs
(NASDAQ:SRSL), a leading provider of innovative audio and voice
technology solutions, announced today that it has named Ulrich
Gottschling as the company's new chief financial officer, effective
January 2, 2006. According to Tom Yuen, the chairman and chief
executive officer of SRS, Mr. Gottschling brings a variety of
qualifications and skills to SRS, which include substantial
operational, public accounting and organizational experience. "As
SRS continues to evolve and mature as an innovative technology
company, we believe Mr. Gottschling's background and expertise are
well-suited to the company, and we expect to benefit from the
breadth of his experience in both finance and operations as well as
his knowledge of the software and licensing business," Yuen said.
Commenting on his new responsibilities at SRS, Gottschling said
that he is eager to assume the role of the company's CFO as SRS
works to further expand the market presence and penetration of its
state-of-the-art audio and voice technology solutions. "I am
pleased to have the opportunity to serve as the company's CFO and
to utilize my broad-based financial experience and my expertise in
the software/licensing arena as SRS moves forward in a dynamic and
emerging marketplace," Gottschling said. Gottschling is replacing
Janet Biski who will remain as CFO at SRS until Gottschling assumes
the CFO position on January 2, 2006. Ms. Biski will continue to
serve as a vice president of the company reporting to the chief
executive officer. Gottschling served most recently from 1999 to
2005 as the CFO of Valor Computerized Systems, Inc. (VCS), which
offers integrated software solutions from
design-through-manufacturing to the electronics supply chain, and
as president of operations of VCS since 2000. He was also CFO and a
member of the board of directors of E4ENET.Com, Inc., an affiliated
company of VCS which offers business-to-business collaboration
technology. Between 1995 and 1999, Gottschling was CFO of Sound
Source Interactive, Inc., a publicly-held entertainment software
company, and from 1997 to 1999 he also served as president and
chief operating officer of Sound Source. Earlier in his career,
Gottschling held positions with public accounting firms working in
the audit and financial consulting areas. About SRS Labs, Inc. SRS
Labs is a recognized leader in the advancement of audio and voice
technology. The company works with the world's top manufacturers to
provide a richer entertainment experience through patented sound
techniques. SRS Labs' technologies can be heard through products
ranging from televisions, LCD and plasma monitors, cell phones, MP3
players, car audio systems, and notebook and desktop computers. The
company also offers hardware and software tools to professionals
and consumers for the creation, production and broadcast of content
featuring SRS Labs' technologies. Valence Technologies Limited, a
Hong-Kong based subsidiary of SRS Labs, is a semiconductor company
that designs and sells custom ASICs and standard ICs to leading
manufacturers worldwide. Based in Santa Ana, Calif., the company
also has licensing representation in Hong Kong, Japan, Europe, and
Korea. For more information about SRS Labs, Inc. please visit
http://www.srslabs.com/. The information on the aforementioned
website is not incorporated by reference into this press release.
Except for historical information contained in this release,
statements in this release, including those of Mr. Yuen and
Mr.Gottschling are forward-looking statements and projections
(which include statements concerning plans and objectives of
management for future operations) that are based on management's
belief, as well as assumptions made by, and information currently
available to, management. While the company believes that its
expectations are based upon reasonable assumptions, there can be no
assurances that the company's goals and strategy will be realized.
Numerous factors, including risks and uncertainties, may affect the
company's actual results and may cause results to differ materially
from those expressed in forward-looking statements made by or on
behalf of the company. Some of these factors include the general
market conditions concerning the semiconductor business, the
acceptance of new SRS Labs' products and technologies, the impact
of competitive products and pricing, the timely development and
release of technologies by the company, general business and
economic conditions, especially in Asia, and other factors detailed
in the company's Form 10-K and other periodic reports filed with
the SEC. SRS Labs specifically disclaims any obligation to update
or revise any forward-looking statement whether as a result of new
information, future developments or otherwise. Contact: Connie
Chandler Investor Relations Tele: 714-573-1115 DATASOURCE: SRS
Labs, Inc. CONTACT: Connie Chandler, Investor Relations,
+1-714-573-1115, for SRS Labs, Inc. Web site:
http://www.srslabs.com/
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