Silicon Image (NASDAQ:SIMGE)
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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/