DPAC Technologies Announces Management Change and Appointment of Interim CEO; Ted Bruce resigns; Creighton -- 'Kim' -- Early becomes interim CEO.Business Editors/High-Tech Writers GARDEN GROVE Garden Grove, city (1990 pop. 143,050), Orange co., S Calif., a suburb of Long Beach and Los Angeles, on the Santa Ana River; founded 1877, inc. 1956. Many of its residents work in nearby aerospace and defense installations, and there is light manufacturing. , Calif.--(BUSINESS WIRE)--Dec. 18, 2003 DPAC DPAC Denver Performing Arts Complex (CO, USA aka: DCPA) DPAC Deferred Policy Acquisition Costs (insurance) DPAC District Parent Advisory Committee DPAC Dover Partnership Against Crime Technologies Corp. (NasdaqNM:DPAC), today announced that it has accepted the resignation of Ted Bruce 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. and director, effective immediately. Mr. Bruce served DPAC since 1999. The board decided that a new structure for the leadership of the company is needed and unanimously elected Mr. Creighton ("Kim") Kim Early as CEO on an interim basis while DPAC begins a search for a permanent CEO. Dick Dadamo, DPAC's Chairman of the Board commented, "Mr. Early is an experienced leader who is knowledgeable about DPAC's operations and strategy. He has served on DPAC's Board since April 2003 and had been a member of both the independent directors committee and the audit committee." From 1988 through 2002, Mr. Early served several management positions while employed by Earth Tech, Inc., including as its Chief Financial Officer and as President of its Global Water Management Division, a $600 million operation. "All of the Board wishes Ted great future success," continued Dadamo, "and thanks him for his contributions and accomplishments. The entire Board has determined that we have the right long-term vision for DPAC." "DPAC is advancing on several of the most important programs in its history. All my efforts will be directed at the task before us; to execute on our plans and to bring needed focus on key initiatives, said Early. Dick Dadamo has been a key contributor who has been involved in the daily operations of DPAC, and has served the company as president. He will be a big asset during this transition." About DPAC Technologies Located in Garden Grove, California Garden Grove is a city centrally located in northern Orange County, California, United States. As of 2004, the city population was 170,000 people. California State Route 22, also known as the Garden Grove Freeway, passes through the city from east to west. , DPAC Technologies provides a diverse portfolio of patented electronic-component-based products including component packaging technology for high-density, space-saving memory and wireless applications, and solutions for digital image enhancement See image editing. . DPAC's products are used in electronic circuits found in network servers, computer storage devices, weapon guidance systems, medical instrumentation, communication devices, refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. controls, automotive diagnostic equipment and other advanced equipment. The Company also provides value-added manufacturing of prototype designs and medium volume production runs of assembled circuit boards. The Company's web site address is http://www.dpactech.com. Forward-Looking Statements This press release includes forward-looking statements, including statements regarding management's current beliefs concerning the Company. Every statement herein that is not historic in nature is a forward-looking statement for purposes of the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve risks and uncertainties, and therefore results may differ materially from those set forth in these statements. Factors that affect DPAC's business include; but are not limited to, the market acceptance of new products, future business opportunities with products, competition in the semiconductor market, protection of technology or proprietary rights, rapid technological change, risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and general market and economic conditions. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise. |
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