Cherokee International Announces Resignation of Pat Patel.TUSTIN Tustin (tŭs`tĭn), residential city (1990 pop. 50,689), Orange co., S Calif., part of the greater Los Angeles area; founded 1868, inc. 1927. Plastics, furniture, computers, and electronic equipment are manufactured. , Calif. -- Cherokee Cherokee, Native American language Cherokee, language belonging to the Iroquoian branch of the Hokan-Siouan linguistic family. See Native American languages. International (Nasdaq:CHRK), a leading manufacturer of power supplies, today announced that Pat Patel will be stepping down as non-executive Chairman of the Board effective July 22, 2004. Mr. Patel retired as 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. of the company in 2001 with the hiring of current CEO, Jeff Frank. Mr. Patel will continue to be available as a consultant to the company to support Cherokee International's continued growth and success. "When I decided to retire as CEO three years ago, I committed to ensuring a smooth transition to the current management team," said Mr. Patel. "I now believe that I have fulfilled ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. my commitment in this regard. I will continue to be available to support the company in certain technical areas on an as needed as needed prn. See prn order. basis. As founder and shareholder, I wish the company continued success." "Pat has done a tremendous job building a terrific organization," said Jeff Frank, CEO and President of Cherokee International. "He deserves to be very proud of the company he helped create, and he can rest assured that we will continue to work hard to exceed the expectations of our customers, employees, and shareholders. We are extremely grateful to Pat for his many years of service and hard work and wish him well." Mr. Patel will be replaced as Chairman of the Board on an interim basis by Ian Schapiro, a current director of Cherokee International. Mr. Schapiro will lead a sub-committee of the Board in a search for a permanent replacement expected to be named before the end of the year. About Cherokee International Cherokee International designs, manufactures, and markets high-reliability custom and standard switch-mode power supplies for datacom, telecom, medical and industrial applications. With advanced manufacturing facilities and engineering expertise located worldwide, Cherokee applies a customer-focused approach to provide high-reliability power products to manufacturers reducing time to market. As the leading provider of custom-designed power sources, Cherokee also delivers a complete range of standard and modified-standard AC/DC AC/DC adj. Slang Having a bisexual orientation. [From the likening of a bisexual person to an appliance that works on either alternating or direct current. power supplies, AC/DC rectifiers and power shelves, and DC/DC converters. Cherokee International headquarters are at 2841 Dow (Direct OverWrite) See magneto-optic disk. Avenue, Tustin, CA 92780 and can be reached at 714-544-6665. European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. operations are at Boulevard de l'Europe 131, 1301 Wavre, Belgium and can be reached at +32 10 438 510. Additional information about the company and its products is available at http://www.cherokeepwr.com. |
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