M Systems Flash Disk (NASDAQ:FLSH)
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msystems(TM) (Nasdaq: FLSH), a leader in smart personal
storage, today announced the following changes to its board of
directors and senior management team:
-- Gurion Meltzer was appointed director and shall serve as the
Chairman of the Board of Directors;
-- Ronen Faier shall serve as interim Chief Financial Officer;
and
-- Ronit Maor shall serve as Chief Operating Officer.
These changes, effective immediately, are pursuant to the
recommendations of the special committee adopted by the Board of
Directors, as reported in the Company's Annual Report on Form 20-F
filed with the Securities and Exchange Commission on July 17, 2006.
Dov Moran continues to serve as the Company's President and Chief
Executive Officer and a member of the Board of Directors.
Gurion (Guri) Meltzer brings to msystems vast management
experience. Mr. Meltzer currently serves on the Board of Directors of
a number of companies, including ProSeed Venture Capital Fund and
Medex Screen, in addition to providing management consulting services.
Between 1995 and 1997, Mr. Meltzer served as active chairman of the
Board of Directors of Bezeq Ltd., Israel's national telecommunications
company. Prior to that, Mr. Meltzer served in various management and
executive positions in leading Israeli companies, including, Tadiran
Electronics Ltd., Koor Industries Ltd. and Telrad Ltd.. Mr. Meltzer
also serves as the executive director of the International Marketing
Program at the Recanatti Business School at the Tel Aviv University.
He serves as the chairman of the board of trustees of the Jerusalem
College of Technology, a member of the executive boards of Tel Aviv
University, The Hebrew University in Jerusalem and the Weizmann
Institute of Science, among other educational organizations.
Ronen Faier joined msystems in 2004. During his tenure at
msystems, Mr. Faier oversaw the tax and accounting aspects of the
Company's M&A and investment activities, the Company's tax strategy,
as well as its compliance with the requirements of section 404 of
Sarbanes-Oxley Act of 2002. Prior to that, Mr. Faier served as
corporate controller at VocalTec Communications Ltd., which also
traded on Nasdaq. A certified public accountant (Israel), Mr. Faier
holds a B.A. in Economics and Accounting from the Hebrew University of
Jerusalem and an MBA (with Honors) from Tel Aviv University.
"I am very pleased to have Guri join us as Chairman of the Board
and will do all I can to help him," said Dov Moran, President and
Chief Executive Officer of msystems. "I look forward to Ronit serving
in her new role as COO, where we can benefit from her extensive skill
and experience. msystems always knew how to promote its employees side
by side to adding new and experienced managers. I am happy we could
promote Ronen to the task of interim CFO. While with us for the past
two years, Ronen proved his professionalism and leadership and I wish
him a lot of success in his new position. I think he is particularly
well suited to lead our finance team to what I hope will be our
successful merger with SanDisk Corporation," Mr. Moran continued.
About msystems
msystems has been transforming raw flash material into smarter
storage solutions since 1989. From embedded flash drives deployed in
millions of mobile handsets to U3 USB smart drives designed for
leading global brands, msystems creates, develops, manufactures and
markets smart personal storage solutions for a myriad of applications
targeting high growth markets.
More information is available online at www.msystems.com.
msystems. made smarter.
All company and product names mentioned may be trademarks or
registered trademarks of their respective holders and are used for
identification purposes only.
This press release includes forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. Readers are
cautioned not to place undue reliance on these forward-looking
statements, as they are subject to various risks and uncertainties
which may cause actual results to vary significantly. These risks
include, but are not limited to: the effect of global economic
conditions in general and conditions in msystems' industry and target
markets in particular, shifts in supply and demand, market acceptance,
the impact of competitive products and pricing, product development,
commercialization and technological difficulties, and capacity and
supply constraints including dependence on flash component suppliers;
changes in msystems' and its customers' inventory levels and inventory
valuations; timely product and technology development/upgrades and the
ability to manage changes in market conditions as needed; market
acceptance of new products and continuing product demand; the impact
of competitive products and pricing on msystems' and its customers'
products and markets; the development, release and sale of new
products by strategic suppliers and customers; the development and
growth of anticipated markets for msystems' and its customers'
products; and other risk factors detailed from time to time in
msystems' filings with the Securities and Exchange Commission.
msystems assumes no obligation to update the information in this press
release and disclaims any obligation to publicly update or revise any
such forward-looking statements to reflect any change in its
expectations or in events, conditions, or circumstances on which any
such statements may be based, or that may affect the likelihood that
actual results will differ from those set forth in the forward-looking
statements. Reference to msystems' website above does not constitute
incorporation of any of the information thereon into this press
release.