Oak Technology Appoints William L. Housley as President of its Optical Storage Group.SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb. 26, 1999--Oak Technology (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 :OAKT), a provider of high-performance semiconductors for the optical storage, consumer electronics and digital office equipment markets, today announced that William L. Housley has joined the Company as President of its Optical Storage Group. Housley comes to Oak from Motorola's Semiconductor Products Sector in Austin, Texas, where he was Director of Business Operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets for the Imaging and Storage Division. Prior to that, Housley was at Cirrus Logic (company) Cirrus Logic - A manufacturer of integrated circuits including the Advanced RISC Machine and display interface processors and cards for use as Windows accelerators (requiring dedicated driver software). http://cirrus.com/. , Inc., where he was Vice-President of the Mass Storage Controller Division and later, in the Graphics Division. Housley joins Oak with extensive experience in business unit management and marketing within the mass storage and CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). controller industries. Oak has, in recent years, extended its proven market leadership in the CD-ROM controller arena into the emerging CD-RW (CD-ReWritable) The only rewritable CD technology. CD-RW disks look like other CD media, but with close inspection, they have a more polished surface with a very dark blue-gray cast. market segment. Oak's first-generation CD-RW controller was designed into a majority of first generation CD-RW drives, and the Company's second generation integrated solution is expected to be used in CD-RW drives provided by several of the industry's leading manufacturers. Oak Technology plans to introduce the first of its integrated DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. controller solutions this calendar year. "Oak has a wealth of intellectual property and valuable customer relationships in the optical storage market," observed Housley. "It is a combination that is hard to beat and positions the Company to maintain leadership in the emerging CD-RW storage technology market." "Oak's technical expertise in the optical storage arena is long-standing and one that we are intent on furthering," stated Young Sohn, 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 Oak Technology. "Emerging markets, such as CD-RW and DVD, continue to present Oak with new opportunities to reassert reassert Verb 1. to state or declare again 2. reassert oneself to become significant or noticeable again: reality had reasserted itself Verb 1. its market and technical leadership. As I begin my new role at Oak, I'm pleased to have Bill working with me to execute on this charter." The foregoing statements may consist of forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. These statements may differ materially from actual future events or results. Factors that could cause actual outcome to differ materially from those set forth include, without limitation, the rate of adoption of new technology in the optical storage market, market acceptance of the Company's products, competitive pricing actions and marketing programs of the Company and the Company's customers, among others. For a discussion of such risks, see the Company's most recent SEC Forms 10-K and 10-Q. About Oak Technology Founded in 1987, Oak Technology, Inc. designs, develops and markets high-performance semiconductors and related software to original equipment manufacturers (OEMs) worldwide who serve the optical storage, consumer electronics, and digital office equipment markets. Oak has subsidiaries in Japan (Oak Technology, K.K.); Taiwan (Oak Technology, Taiwan); Andover, Mass. (Pixel pixel in full picture element Smallest resolved unit of a video image that has specific luminescence and colour. Its proportions are determined by the number of lines making up the scanning raster (the pattern of dots that form the image) and the resolution Magic, Inc.); Bristol, U.K. (Oak Technology, Ltd.); and Munich, Germany (Oak Technology GmbH). The Company completed its initial public offering in February 1995. Additional information about Oak Technology and its products can be found on the World Wide Web at www.oaktech.com. Note to Editors: Oak Technology and the Oak logo are registered trademarks of Oak Technology, Inc. Pixel Magic is a trademark of Oak Technology. All other product names or company names are mentioned for identification purposes only, and may be trademarks of their respective owners. |
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