Computer Access (NASDAQ:CATZ)
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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/