Advanced Photonix, Inc. Announces Management Change.Business Editors CAMARILLO, Calif.--(BUSINESS WIRE)--Feb. 11, 2003 Advanced Photonix, Inc.(R) (AMEX AMEX See: American Stock Exchange :API) announced today that Paul Ludwig, currently the Company's 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. , has been appointed President, and Rick Kurtz, currently the Chairman of the Board, has been appointed the Company's Chief Executive Officer and in such capacity will be employed by the Company on a full-time basis. The new appointments follow the resignation of Brock brock n. Chiefly British A badger. [Middle English brok, from Old English broc, of Celtic origin.] Koren as President and Chief Executive Officer and an employee of the Company. Mr. Koren has not yet determined whether he will remain as a Director. Mr. Kurtz stated, "Paul Ludwig has demonstrated outstanding leadership and focus in the initial phase of the integration of Silicon Sensors and Texas Optoelectronics. The Board expects API to continue this positive direction under his leadership." Mr. Ludwig commented, "I am excited by the challenge and the confidence that the Board of Directors has placed in me. I look forward to working closely with Rick and the rest of the Board who have orchestrated or·ches·trate tr.v. or·ches·trat·ed, or·ches·trat·ing, or·ches·trates 1. To compose or arrange (music) for performance by an orchestra. 2. the growth strategy we are embarking upon." Advanced Photonix, Inc.(R) (AMEX:API) is a leading supplier of innovative, silicon-based electro-optical products and design solutions to a global OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customer base. Products include the patented Large Area Avalanche Photodiode Avalanche photodiodes (APDs) are photodetectors that can be regarded as the semiconductor analog to photomultipliers. By applying a high reverse bias voltage (typically 100-200 V in silicon), APDs show an internal current gain effect (around 100) due to impact ionization (avalanche (LAAPD) and FILTRODE(R) detectors, as well as PIN photodiodes. More information on Advanced Photonix can be found at http://www.advancedphotonix.com. The information contained herein includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based on assumptions that management believes to be reasonable but are subject to inherent uncertainties and risks including, but not limited to, unforeseen technological obstacles which may prevent or slow the development and/or manufacture of new products, limited (or slower than anticipated) customer acceptance of new products which have been and are being developed by the Company and a decline in the general demand for optoelectronic products. |
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