S R Telecom (NASDAQ:SRXA)
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Pierre St-Arnaud Steps Down as SR Telecom's President and CEO -
Mr. St Arnaud will continue to serve on Company's Board of Directors
MONTREAL, July 21 /PRNewswire-FirstCall/ -- SR Telecom(TM) Inc. (TSX: SRX;
Nasdaq: SRXA) announced today that Pierre St-Arnaud has resigned as the
Company's President and Chief Executive Officer. Mr. St-Arnaud will continue to
sit on the Company's Board of Directors.
Mr. St-Arnaud joined SR Telecom in 2000 as President and Chief Operating
Officer and was appointed CEO in April 2001. Under his leadership, SR Telecom
broadened its product portfolio through the acquisition of assets from Lucent
Technologies and Netro Corporation, launched new technology platforms giving
access to new and growing markets, and streamlined its manufacturing, R&D and
sales processes.
"The initiatives guided by Mr. St-Arnaud have played a crucial role in
strengthening the company's competitiveness and positioning it as the global
leader in WiMAX-ready, OFDM Broadband Wireless Access solutions. In fact,
Pierre's vision led to the acquisition and development of a series of products
that currently account for approximately two-thirds of our revenues," said
Lionel Hurtubise, Chairman of SR Telecom's Board of Directors. "We are very
pleased that Pierre will continue to serve on the Board, and to contribute to
the further development of the Company."
Mr. William Aziz, the Company's Chief Restructuring Officer, will assume the
CEO role on an interim basis.
About SR Telecom
SR TELECOM (TSX: SRX, Nasdaq: SRXA) designs, manufactures and deploys
versatile, Broadband Fixed Wireless Access solutions. For over two decades,
carriers have used SR Telecom's products to provide field-proven data and
carrier-class voice services to end-users in both urban and remote areas around
the globe. SR Telecom's products have helped to connect millions of people
throughout the world.
A pioneer in the industry, SR Telecom works closely with carriers to ensure
that its broadband wireless access solutions directly respond to evolving
customer needs. Its turnkey solutions include equipment, network planning,
project management, installation and maintenance.
SR Telecom is a principal member of WiMAX Forum, a cooperative industry
initiative which promotes the deployment of broadband wireless access networks
by using a global standard and certifying interoperability of products and
technologies.
FORWARD-LOOKING STATEMENTS
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of future
events. Such factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for the
Company's products and services, the impact of price pressures exerted by
competitors, and general market trends or economic changes. As a result,
readers are advised that actual results may differ from expected results.
SR TELECOM is a trademark of SR Telecom Inc. All rights reserved 2005.
All other trademarks are property of their owners.
DATASOURCE: SR TELECOM INC.
CONTACT: David Adams, Senior Vice-President, Finance and CFO,
(514) 335-4035; Scott Lawrence, (Maison Brison), (514) 731-0000,
; http://www.srtelecom.com/