Adaptec Announces $200 Million Stock Buyback.MILPITAS, Calif.,--(BUSINESS WIRE)--Oct. 19, 1998--The Board of Directors of Adaptec, Inc. has authorized the repurchase of up to $200 million worth of the company's outstanding common stock. The shares will be purchased on the open market. Interim CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Larry Boucher said, "The Board decision reflects my confidence in the company's future. Both Adaptec management and the Board are committed to building shareholder value, and an expanded stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. will benefit shareholders. Today's announcement reinforces Adaptec's intent to deliver improved performance and profitability." About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output , connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Calif., Adaptec (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) employs people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion