DATA SYSTEMS & SOFTWARE INC. BOARD ANNOUNCES RESIGNATION OF VICE PRESIDENT.MAHWAH, N.J.--(BUSINESS WIRE)--April 10, 1995--Data Systems & Software 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 NMS See NetWare Management System. : DSSI DSSI Diversified Scientific Services, Inc. DSSI Digital Storage Systems Interconnect DSSI Dead Sea Scrolls Institute (Trinity Western University, Canada) DSSI Digital Small Storage Interconnect ) today announced that Sanford L. Kane, Vice President of DSSI, and Chairman and Chief Executive Officer of its Tower Semiconductor Ltd. subsidiary has resigned, citing personal reasons. George Morgenstern, Chairman and Chief Executive Officer of Data Systems & Software Inc. has been appointed Acting Chairman of the Board of Directors and Acting Chief Executive Officer of Tower. Mr. Morgenstern has been a director of Tower since its organization in March 1993. Tower's senior management team headed by Dr. Rafael M. Levin, Vice President and 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. , and Dr. Yoav Nissan-Cohen, Vice President, Technology and Business Development, will continue in their current positions and will continue to be responsible for Tower's day-to-day operations. Mr. Morgenstern stated, "All the elements of the Tower team which have been providing world class semiconductor foundry manufacturing services to its customers remain in place. We look forward to maintaining and building on these relationships as Tower continues to expand its manufacturing capacity, advance its process technologies and expand its customer base." Data Systems & Software Inc. provides consulting and development services for computer software and systems, principally in the area of state-of-the-art, embedded real- time systems. The Company is also developing and has commenced marketing a number of proprietary products intended for sale to commercial and military markets worldwide. In addition, the Company, through its Tower Semiconductor Ltd. subsidiary, manufactures integrated circuits on silicon wafers using its advanced production capability and the proprietary designs of its customers. The Company's operations are conducted primarily in Israel through Tower, which is listed on NASDAQ/NMS, and Decision Systems Israel Limited, one of the largest independent software companies in Israel, which is listed on the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. . CONTACT: Data Systems & Software Inc., Mahwah George Morgenstern, 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. , (201) 529-2026 or Wolfe Axelrod Associates, New York Stephen D. Axelrod, CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. Jennifer Hendrickson (212) 370-4500 |
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