Adaptec Names F. Grant Saviers Chairman.MILPITAS, Calif.--(BUSINESS WIRE)--Aug. 25, 1997--F. Grant Saviers, president and chief executive officer of Adaptec, Inc., has been named chairman of the board. Saviers joined Adaptec as president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. in August 1992 and was named president and chief executive officer in July 1995, responsibilities he will continue to hold. "Grant Saviers has pioneered new markets and products for Adaptec and has taken the company into exciting new bandwidth management Controlling the traffic flow in a network. See bandwidth manager. areas," said John Adler John Herbert Adler (born August 23, 1959) is an American Democratic Party politician, who has served in the New Jersey State Senate since 1992, where he represents the 6th Legislative District. , Adaptec's former chairman who retired at the annual meeting on August 21, 1997. "Under Grant's leadership, Adaptec has grown into a billion dollar company." "Being part of Adaptec and working closely with John Adler have been some of the best experiences in my life," said Saviers. "We've established an industry leadership position in 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 technology and systems bandwidth solutions. I'm thrilled about the Adaptec team's capability to extend the impressive record of revenue and earnings growth." About Adaptec On July 24, Adaptec reported its 24th consecutive quarter of revenue growth and its 52nd consecutive quarter of profitability with Q1 revenues at $271 million, up 34% from the $202 million reported for the corresponding quarter of the prior fiscal year. Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high-performance I/O, 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 3,500 people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com . CONTACT: Adaptec, Inc. Adam Trunkey, 408/957-6761 atrunkey@corp.adaptec.com |
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