02.07.2007 20:15:00
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InPlay Technologies Appoints Steven Hanson CEO, Previous CEO and CFO Bob Brilon Resigns
InPlay Technologies (NASDAQ: NPLA) announced today that Steven Hanson,
59, has been named chief executive officer, succeeding Bob Brilon who
resigned as chief executive officer, chief financial officer and
director. William Rodes, 52, currently VP of Finance and Administration,
has been appointed acting CFO.
"I believe in the market opportunity for our
technologies and look forward to guiding the company through its next
stage of growth,” said Hanson. "We
thank Bob for his efforts in building this company, from his guidance in
the company’s public offering in 1999 to his
vision of expanding our portfolio of innovative technologies.”
Hanson has served as a director since 2004 and has been chairman of the
board of directors since 2005. Hanson is a partner at Knowledge Capital
Alliance, a consulting firm in leadership development and organizational
performance, as well as a partner in Southwest Value Acquisitions, a
private equity firm. Hanson has over thirty-two years of senior
executive experience in the high-technology industry. As president and
chief executive officer of ON Semiconductor, he led the company through
a very rapid transformation from a private entity to a public company,
while completing a major acquisition and reinventing itself to become
one of the global leaders in power management technologies. Hanson began
his career at Motorola, working his way through the organization in a
number of engineering, management and leadership positions. Before
leading the leveraged buyout of ON from Motorola, he was senior vice
president and general manager for the Standard Components Group.
Rodes joined InPlay in 2006. Previously, he was chief financial officer
for Gold Canyon Candle Co., where he managed the finance and operations
functions. Prior to that, Rodes was chief financial and accounting
officer for White Electronic Designs (NASDAQ: WEDC), a manufacturer of
memory components, liquid crystal displays and interface devices for
original equipment manufacturers.
About InPlay Technologies
InPlay Technologies develops, markets and licenses proprietary emerging
technologies. Working with its licensees and OEM customers, InPlay
offers technology solutions that enable innovative designs and improved
functionality for electronic products. The company's MagicPoint®
technology is the only digital-based pen-input solution for the rapidly
growing tablet PC and mobile computing markets. Its Duraswitch®
brand of electronic switch technologies couples the friendly tactile
feedback of mechanical pushbuttons and rotary dials with the highly
reliable, thin profile of membrane switches, making it ideal in a wide
range of commercial and industrial applications. InPlay is focused on
further commercializing these technologies and seeking additional
innovative technologies to enhance its portfolio. Visit www.inplaytechnologies.com
for more information.
This news release contains certain "forward-looking
statements” within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements include
statements regarding our assessment of the market opportunities for our
technologies and our ability to grow the company. Risks and
uncertainties that could cause results to differ materially from those
projected include lack of market acceptance of our technologies,
inability to gain market share and other uncertainties described from
time to time in our documents filed with the Securities and Exchange
Commission, including our Annual Report on Form 10-KSB for the year
ended December 31, 2006 as filed with the Securities and Exchange
Commission on April 2, 2007. These forward-looking statements represent
our beliefs as of the date of this press release and we disclaim any
intent or obligation to update these forward-looking statements.
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