Centigram Announces Board and Management Appointments; Stock Buy-Back Program.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--April 15, 1997--Centigram Communications Corporation (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 : CGRM CGRM Computer Graphics Reference Model (ISO) ), a leading global provider of wireless and wireline messaging and communication solutions, today announced that Dean Morton, a director and former 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. of Hewlett-Packard Company, has been appointed as chairman of the Board of Directors, and that director Michael Jarvis has been named a vice-chairman of the Board to support Mr. Morton. In addition, an Operating Committee has been formed to manage the company's day-to-day operations while a new chief executive officer is sought. Director David S. Lee, a telecommunications industry veteran, has been appointed chairman of the Operating Committee with Dennis Barsema, senior vice president and general manager, and Dennis P. Wolf, senior vice president and chief financial officer reporting to Mr. Lee. The company is continuing its search for a new chief executive officer following the April 2 announcement of Mr. Sollman's resignation, effective April 15. Mr. Sollman has been appointed a vice-chairman of the Board and will remain in this position until the end of the fiscal year. Centigram cen·ti·gram n. A metric unit of mass equal to one hundredth (10-2) of a gram. centigram one-hundredth of a gram; abbreviated cg. also announced today that its Board of Directors has authorized a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program whereby up to 1 million shares of its Common Stock may be purchased in the open market from time-to-time. "We believe that stock repurchases could be beneficial to stockholders in light of the stock's recent trading price Trading price The price at which a security is currently selling. ," said Mr. Wolf. Centigram is a leading global provider of wireless and wireline messaging and communications solutions. Centigram delivers communications solutions by integrating voice, data and facsimile on its Series 6 communications server See network access server, modem server, terminal server and communications controller. (operating system) Communications Server - IBM's rebranding of ACF. , and by providing access to this multimedia information through a telephone or PC. The Series 6 platform is based on industry standard hardware and software. Centigram also licenses TruVoice, its patented text-to-speech software. Centigram is headquartered at 91 East Tasman Drive, San Jose, Calif., 95134. Phone 408/944-0250, fax 408/428-3732, World Wide Web http://www.centigram.com. Centigram has sales and support offices in North America, Europe, Asia, Latin America, and Australia. -0- Note to Editors: Centigram and TruVoice are registered trademarks of Centigram Communications Corporation. CONTACT: Centigram Communications Corp. Dennis Wolf, 408/944-0250 (Investors) dennis.wolf@centigram.com or Beverly Rindfleisch, 408/944-0250 (Business/Trade Press) bev.rindfleisch@centigram.com |
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