Adaptec Announces New Chief Financial Officer
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MILPITAS, CA, Mar 31 (MARKET WIRE) --
Adaptec, Inc. (NASDAQ: ADPT), a global leader in storage solutions, today
reported that Mary Dotz will assume the position of chief financial officer
beginning on March 31, 2008. In this role, Ms. Dotz will manage finance,
accounting, legal, investor relations, and information technology. Chris
O'Meara,
Adaptec's former CFO, will be assisting the company to ensure a smooth
transition.
"We are extremely pleased to have Mary Dotz taking on the role of CFO," said
Sundi Sundaresh, Adaptec's chief executive officer. "Mary's extraordinary
breadth
of finance experience and business leadership will be a great asset for
Adaptec. We look forward to working with her and the contributions she will
bring to the company."
"I am excited to join the team at Adaptec," said Mary Dotz, Adaptec's new
chief financial officer. "Adaptec has a long history of innovation and I
believe the company has a great deal of opportunity ahead of it. I am
excited about helping the team maximize Adaptec's potential."
Mary Dotz brings to Adaptec over 25 years of finance experience. Most
recently, Mary Dotz was the CFO of Beceem Communications, a maker of WIMAX
chipsets, where she successfully raised private investment capital and built
the finance department. Prior to Beceem, she was CFO at Pinnacle Systems and VP
of Finance and Corporate Controller at NVIDIA. She holds a B.S. in Business
Administration from San Diego State University and an M.B.A. from the
University of Southern California.
"During Chris' tenure at Adaptec, he has made significant contributions to
the processes and infrastructure of the finance team," stated Sundi Sundaresh.
"We appreciate the effort and contributions he brought to Adaptec."
Safe Harbor Statement
This news release includes forward-looking statements within the meaning
ofSection 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities and Exchange Act of 1934, as amended. Forward-looking statements
are
statements regarding future events or the future performance of Adaptec, and
include
statements regarding the expected contributions Mary Dotz will make to Adaptec,
Ms.
Dotz's belief that Adaptec has a great deal of opportunity ahead of it, and the
ability of Adaptec and its new management team to maximize its potential.
These forward-looking statements are based on current expectations, forecasts
and
assumptions and involve a number of risks and uncertainties that could
cause actual results to differ materially from those anticipated by these
forward-looking statements. These risks include: achieving necessary support
from the
contractmanufacturers to whom we have outsourced manufacturing, assembly and
packaging of our products; retaining key management; Adaptec's ability to
launch new software products; difficulty in forecasting the volume and timing
of customer orders; reduced demand in the server, network storage and desktop
computer markets; our target markets' failure to accept, or delay in
accepting, network storage and other advanced storage solutions, including our
SAS,
SATA and iSCSI lines of products; decline in consumer acceptance of our current
products; the timing and volume of orders by OEM customers for storage
products; our ability to control and manage costs associated with the delivery
of new products; and the adverse effects of the intense competition we face
in our business. For a more complete discussion of risks related to our
business,
reference is made to the section titled "Risk Factors" included in our
Quarterly Report on Form 10-Q for the quarter ended December 31, 2007 on file
with the Securities and Exchange Commission. Adaptec assumes no obligation to
update any forward-looking information that is included in this release.
About Adaptec
Adaptec, Inc. (NASDAQ: ADPT) provides trusted storage solutions that
reliably
move, manage, and protect critical data and digital content. Adaptec's software
and hardware-based solutions are delivered through leading original equipment
manufacturers (OEMs) and channel partners to provide storage connectivity,
data protection, and networked storage to enterprises, government
organizations, medium and small businesses worldwide. More information is
available
at www.adaptec.com.
Copyright 2008, Market Wire, All rights reserved.
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