ADC Launches Search for Future Chief Executive.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--May 18, 2000 William Cadogan William Cadogan can be one of the following
After Transition to New Leader ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. (Nasdaq: ADCT ADCT Adaptive Discrete Cosine Transform ; www.adc,com) today announced that William J. Cadogan, ADC's chairman, president and CEO, has announced his intention to retire from ADC after a transition to a new leader. It is anticipated that the transition to a new leader will be completed within the next 12 to 18 months. The ADC Board of Directors has formed a succession committee, which has launched a formal executive search and also plans to evaluate strong internal succession candidates. Cadogan's retirement plans are driven by personal and family considerations. Cadogan has been ADC's president and CEO since 1991 and chairman of the board of directors since 1994. "ADC is very well-positioned for future success as a leading global supplier of broadband communications equipment, software and integration services," said Cadogan. "With the proven strength of our broadband strategy, market leadership and management team, now is the right time to establish a new chief executive to seize the tremendous opportunities for continued growth. I am strongly committed to the success of ADC and will remain throughout the transition to a new leader who will continue ADC's long-term record of producing high returns to our shareowners." ADC has retained Jeff Christian Jeff Christian (born July 30, 1970 in Burlington, Ontario, Canada) is an ice hockey Left Winger, that has played for many teams in many leagues. , chairman and CEO of Christian & Timbers, to conduct the search process. Christian & Timbers is a premier retained executive search firm in the high-technology industry. "This is a great search, and I am excited about the opportunity to find the new CEO for ADC," said Christian. "With the attractiveness of significant and long-term global growth in the broadband communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. combined with ADC's solid strategic position to capture this growth, I have no doubt that ADC will be in a position to select an exceptional new chief executive who will positively impact ADC and its marketplace." About ADC ADC Telecommunications ADC Telecommunications (NASDAQ: ADCT) is a communications company located in Eden Prairie, Minnesota, a southwest suburb of Minneapolis. History In 1935, Ralph Allison founded ADC Telecommunications in the basement of his south Minneapolis home, inventing ADC's very , Inc. is a leading global supplier of network equipment, software and integration services for broadband, multiservice networks that deliver data, video and voice communications over telephone, cable television, Internet, broadcast, wireless and enterprise networks. ADC's broadband, multiservice network solutions enable local access, high-speed transmission and software management of communications services from service providers to consumers and businesses over fiber-optic, copper, coaxial and wireless media. Headquartered in Minneapolis, Minnesota, ADC has approximately 16,900 employees around the world and annual sales of $2.3 billion. ADC's stock is included in the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 Index and the Nasdaq-100 Index. For additional information, visit our Web site at www.adc.com. |
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