Chip Express Strengthens Board of Directors With Appointment of George Lauro.Business Editors/High-Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Aug. 13, 2002 Former IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Strategist and Wasserstein Ventures Managing Director Brings Unique Technology Perspective to ASIC (Application Specific Integrated Circuit) Pronounced "a-sick." A chip that is custom designed for a specific application rather than a general-purpose chip such as a microprocessor. Manufacturer Chip Express today announced that George Lauro has been appointed to the company's Board of Directors. Lauro is Managing Director of Wasserstein Ventures, where he currently manages the firm's west coast office. He is on the Board of Directors of several privately held tech start-ups, including SandCraft, Cognigine, PetaSwitch, Peregrine Semiconductor, Blaze Networks, Triscend, and Mockingbird mockingbird: see mimic thrush. mockingbird Any of several New World birds of a family (Mimidae) known for their mimicry of birdsong. The common, or northern, mockingbird (Mimus polyglottos) can imitate the songs of 20 or more species within 10 Networks. "With his deep understanding of Chip Express' business and the semiconductor industry, George is an excellent addition to our Board of Directors as we complete the company's re-alignment towards the burgeoning mid-volume ASIC market and reduce our reliance on quick-turn prototyping," said Stephen McMinn, president and 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 Chip Express. "George's technical and operational management experience, as well as his direct involvement in launching new business ventures, will be a valuable asset to Chip Express as we move forward." George Lauro is Managing Director of Wasserstein Ventures, the venture capital affiliate of Wasserstein & Co., LP, which manages $300 million of venture capital targeted at innovative technology start-ups. Lauro joined Wasserstein from IBM, where he served as Director of Rapid Commercialization and was one of IBM's senior technology strategists. He developed strategies for many IBM technology initiatives ranging from Radio Frequency IC's to Internet Applications and Pervasive Computing Refers to the use of computers in everyday life, including PDAs, smartphones and other mobile devices. It also refers to computers contained in commonplace objects such as cars and appliances and implies that people are unaware of their presence. . He was a central architect of IBM's Silicon Germanium (SiGe) wireless IC strategy and was Director of Business Development of IBM's SiGe Wireless Products Business. At Motorola, Lauro conceived the world's first consumer handheld Global Positioning Product (Traxar GPS), invented new classes of RF Identification transponders, and launched Motorola's businesses in these spaces. He holds 10 U.S. patents with 4 additional patents pending. Lauro completed a BSEE BSEE abbr. Bachelor of Science in Electrical Engineering from Brown, an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from Wharton, and did graduate work in Astronautics astronautics: see space science. Astronautics Flash Gordon space-traveling hero. [Am. Comics and Cin.: Halliwell] From the Earth to the Moon at MIT MIT - Massachusetts Institute of Technology . About Chip Express Chip Express is a leading manufacturer of late-stage programmable gate array Application Specific Integrated Circuits (ASICs). The company's innovative, patented technology consolidates wafer manufacture tooling, reduces time-to-market and minimizes the cost of initial production. The company's Modular Gate Array technology is widely used in automotive telematics, computing peripherals, communications, high-end consumer electronics, industrial control, medical equipment and military/aerospace systems. Headquartered in Santa Clara, Calif., Chip Express is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation , founded in the U.S. in 1989. A subsidiary, Chip Express (Israel) Ltd., performs Research & Development and manages European operations. This press release contains forward-looking statements based on current information available to Chip Express Corporation as of the date hereof. These statements are based on Management's current expectations and may ultimately prove to be incorrect or false. Factors which could cause future results to differ materially from the results discussed, implied, or forecasted in the forward-looking statements include delays in scheduled product availability dates (which could result from various occurrences including development or testing difficulties, software errors, shortages in appropriately skilled engineers and project management problems); the risks inherent in the commercialization of the Company's anticipated products and services; shifts in customer or market demand for the Company's anticipated products; the impact of competitive products and pricing; and possible disruptive effects of organizational changes, including retaining key personnel and coordinating operations. Chip Express Corp. assumes no obligation to revise or update any forward-looking statements contained in this press release. All other products or service names mentioned herein are the property of their respective owners. |
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