Lexar Media Appoints Mark Adams as Chief Operating Officer.FREMONT, Calif. -- Lexar Media, Inc. (Nasdaq:LEXR), a world leader in advanced digital media technologies, today announced Mark Adams Mark Adams is a college basketball analyst on the ESPN family of networks. Adams was a college basketball coach for 17 years. He was known as a program rebuilder who took over programs that were a combined 28-54 (. (41) has been named 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. , Lexar. Effective immediately, Adams joins the Lexar executive management team reporting to Chairman, 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. Eric Stang. "Adams has a proven track record in delivering outstanding results in both top line revenue and operating efficiencies," said Stang. "We look forward to benefiting from his broad range of skills in business development, marketing and business processes which will help us achieve our vision to be the leading marketer and manufacturer of differentiated NAND flash See flash memory. memory solutions." As a senior sales and marketing executive with 16 years of experience in the technology sector, Adams was most recently Vice President of Sales and Marketing at Creative Labs, Inc., a worldwide leader in digital entertainment products. Adams joined Creative Labs in January 2003 and was responsible for the company's business in the Americas region. Previously, he was CEO of Coresma Inc. and prior to that Vice President of Sales for Creative Labs in his first tenure with the company. "Given Lexar's strong brand and market position and expansive intellectual property, I am very excited to join the executive team and look forward to contributing to the company's future growth," said Adams. Adams holds an economics degree from Boston College Boston College, main campus at Chestnut Hill, Mass.; coeducational; Jesuit; est. and opened 1863. Actually a university, the school's Chestnut Hill campus comprises colleges of arts and sciences and business administration, the graduate school, and schools of nursing and a master's degree in business administration from Harvard University. About Lexar Media, Inc. Lexar is a leading marketer and manufacturer of NAND flash memory products including memory cards, USB flash drives, card readers and ATA (1) (AT Attachment) The specification for IDE drives. See IDE. (2) See analog telephone adapter. ATA - Advanced Technology Attachment controller technology for the digital photography, consumer electronics, industrial and communications markets. The company holds over 92 issued or allowed controller and system patents, and licenses its technology to companies including Olympus Corporation, Samsung Electronics Co., Ltd., SanDisk Corporation and Sony Corporation. Lexar sells its memory cards worldwide and through an exclusive agreement, also sells memory cards under the Kodak brand. Headquartered in Fremont, California, Lexar has operations in countries around the world. More information is available at www.lexar.com. Cautionary Note Regarding Forward-Looking Statements This release contains forward-looking statements, which are subject to 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 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. Reform Act of 1995. These statements include statements related to the appointment of Mark Adams as Chief Operating Officer, the anticipated benefits of this appointment and the growth opportunities available to Lexar. These forward-looking statements involve risks and uncertainties that could cause Lexar's actual results to differ materially from those anticipated by these forward-looking statements. These risks include that members of Lexar's management team must integrate into Lexar's operations effectively and in a timely manner for Lexar to successfully execute its business strategy and if Lexar has difficulties in retaining qualified personnel, the success of its business may be limited and therefore Lexar may not achieve the revenues or margins necessary to maintain profitability. Readers should also refer to the risk factors described in Lexar's filings with the SEC, including its most recently filed 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. and Form 10-Q Form 10-Q See 10-Q. . Lexar assumes no obligation to update the information in this release. Lexar and the Lexar logo are trademarks of Lexar Media, Inc. All other brand or product names are trademarks or registered trademarks of their respective holders. |
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