Artecon Announces Resignation of Chief Financial Officer.SAN DIEGO--(BUSINESS WIRE)--July 23, 1998--Artecon Inc. (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 :ARTE) today announced that chief financial officer and vice president, finance, Tesfaye Hailemichael, has tendered his resignation to be effective as of August 14, 1998 in order to pursue other business opportunities. Hailemichael, 48, served as vice president, finance and chief financial officer since 1990. Artecon is in the process of selecting a new chief financial officer with the assistance of an outside executive search firm. In the interim, James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. Lambert Lambert may refer to
James Lambert, president and chief executive officer said, "Tesfaye has been a key contributor to Artecon's success and growth during the past 8 years and we will miss him. We appreciate Tesfaye's leadership and hard work during our acquisition of Falcon Systems, Inc. and our recent merger and consolidation activities with Storage Dimensions. We wish him well in his new endeavors and much continued success." "I am proud to have contributed to the growth of Artecon over the years," stated Hailemichael. "When I joined the company in 1990, Artecon had revenues of $9 million and less than 45 employees. Today, revenues have grown in excess of $100 million and we have more than 300 employees. I leave with confidence that Artecon is poised for growth and continued success." About Artecon Founded in 1984, Artecon designs, manufactures, markets and supports a broad range of enterprise storage solutions to satisfy the high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. , performance and capacity requirements of the open systems market. On March 31, 1998, Artecon completed a merger with independent RAID storage vendor Storage Dimensions, creating one of the world's largest open systems, independent storage companies serving the PC-LAN PC-LAN Personal Computer Local Area Network and Unix markets. The combined company's products consist of server-attached as well as network-attached storage See NAS. systems. In addition, the company's EXTREME product line includes disaster-tolerant RAID systems for telco Central Office and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the applications. Artecon has a Japan-based subsidiary and Europe-based subsidiary with offices in France, England and the Netherlands. The company also operates through reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. and distributor channels worldwide. Additional information on Artecon can be found on the Internet at http://www.artecon.com.
CONTACT: Artecon Inc.
Jennifer C. Gianola, 760/931-5500
or
FRB San Francisco
Hannah Bruce, 415/986-1591 (General Info.)
Kristi Larson, 415/986-1591 (Inv. Contact)
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