ANADIGICS Announces Appointment of Thomas C. Shields as Chief Financial Officer.WARREN, N.J.--(BUSINESS WIRE)--Aug. 2, 1999-- ANADIGICS, Inc. (Nasdaq: ANAD ANAD Anorexia Nervosa and Associated Disorders ANAD National Association of Anorexia Nervosa and Associated Disorders ANAD Anniston Army Depot ANAD Asociación Nacional de Abogados Democráticos (National Association of Democratic Lawyers, Mexico) ) today announced that Thomas C. Shields has been selected as the Company's new Chief Financial Officer. Mr. Shields, who joined the Company today and will assume the title of Chief Financial Officer August 23, will work closely with John Lyons John Lyons may refer to:
"This is the consummation of a five-month search," said Bami Bastani, ANADIGICS' President and Chief Executive Officer. "Tom has 18 years of experience in financial and strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. leadership positions. His expertise includes developing and expanding global financial operations, mergers and acquisitions, new business development, and manufacturing. We are very pleased to welcome him to our executive management team." Mr. Shields comes to ANADIGICS from Fisher Scientific Fisher Scientific, formally Fisher Scientific International, Inc. and colloquially Fisher was a biotechnology company that provided products and services to the global scientific research and United States clinical laboratory markets. Company, where he has served as Vice President of Finance and Controller since 1997. Prior to joining Fisher Scientific, he was Vice President of Finance and Controller of Harman Consumer Group, where he led domestic and international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and financial management. He also has served as Chief Financial Officer and had full responsibility for P&L and operational performance at Baker & Taylor Software. Mr. Shields holds a BS in Accounting and an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration in Finance from Fairleigh Dickinson University Fairleigh Dickinson University, at Florham-Madison and Teaneck-Hackensack, N.J.; coeducational; incorporated and opened 1942 as a junior college, became a four-year college in 1948 and a university in 1956. . He and his wife, Robin, live with their children, Amanda and Evan, in Pittsburgh, PA and plan to relocate to the New Jersey area. "ANADIGICS has attracted a wealth of design, research and development, and management talent," Shields said. "As a result, the Company is strongly positioned to advance its record of innovation and product development. I look forward to working closely with Bami and the ANADIGICS team in the coming months and to having the opportunity to contribute to the Company's future success." Mr. Lyons will join Philadelphia Ventures as Partner and Chief Financial Officer in early 2000. Philadelphia Ventures is a venture capital company that is among ANADIGICS' earliest investors. "I have enjoyed my years at ANADIGICS and now am looking forward to new experiences and opportunities within a venture company," Lyons said. "I am confident that Tom is the right addition to our strong executive management team." "Tom has a considerable and very impressive record of contributions to companies that have benefited greatly from his expertise," Dr. Bastani added. "His financial leadership has contributed directly to these companies' significant improvements in such key areas as revenue, gross profit, and operational productivity. We are delighted to have found such an accomplished professional to succeed John Lyons, and we wish John great success in his new position." ANADIGICS designs and manufactures radio frequency integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for (RFIC RFIC Radio Frequency Integrated Circuit RFIC Radio Frequency Interface Chip ) solutions for growing broadband and wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. markets. The Company's innovative high frequency RFICs enable manufacturers of communications equipment to enhance overall system performance, manufacturing cost, and time to market. By utilizing state of the art manufacturing processes for its RFICs, ANADIGICS achieves the high-volume, and cost-effective products required by leading companies in its targeted high-growth communications markets. ANADIGICS was the first GaAs IC manufacturer to receive ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certification. For more information on ANADIGICS, visit the Company's Web site at www.anadigics.com Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, order rescheduling or cancellation, changes in estimated product lives, timely product and process development, individual product pricing pressure, variation in production yield, difficulties in obtaining components and assembly services needed for production of integrated circuits, change in economic conditions of the various markets the Company and its customers serve, as well as other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission, including the report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1998 and the Form S-3 prospectus filed July 28, 1999. |
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