04.03.2008 21:01:00
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CalAmp Appoints Richard Gold President and Chief Executive Officer
CalAmp Corp. (NASDAQ:CAMP), a leading provider of wireless products,
services, and solutions, announced today that Richard Gold has been
appointed President and Chief Executive Officer of CalAmp, effective
immediately. He replaces Fred Sturm, who has resigned from his positions
as President and Chief Executive Officer of the Company and as a member
of the Company’s Board of Directors.
Mr. Gold has served as a director of CalAmp since 2000 and as Chairman
of the Board since 2004. Concurrent with his appointment as President
and CEO he has resigned as the Board’s
Chairman but will continue to serve as a director. Frank Perna, a
director of CalAmp since 2000, has been elected to replace Mr. Gold as
the Chairman of the Board. Mr. Gold has also stepped down as a member of
the Board’s Audit Committee and as Chairman
and member of the Governance and Nominating Committee, and has been
replaced in those positions by current director Thomas Pardun.
"We are excited that Rick has agreed to take
on this increased role with CalAmp and to lead the CalAmp team,”
said Mr. Perna. "Rick has a proven track
record as a leader in our industry. With his extensive experience in
wireless communications, the Board believes that Rick is uniquely
qualified to help CalAmp regain its momentum and move the Company
forward.”
Mr. Perna continued, "The Board of Directors
expresses its gratitude to Fred Sturm for his many contributions over
the course of his 10 years of dedicated service to the Company. During
this time, CalAmp experienced rapid growth and became a leading supplier
to the satellite television market. We wish him the best in his future
professional endeavors.”
Commenting on his new role with the Company, Mr. Gold stated, "I
look forward to continuing CalAmp’s drive as
a leader in our industry and expanding and building on our strong brand.
During my tenure serving on the Company’s
Board of Directors, I have been extremely impressed with the talent and
dedication of CalAmp’s world-class employees.
I am convinced that we have an excellent team in place that is poised to
deliver strong financial performance and enhanced shareholder value in
the coming years.”
Mr. Gold, age 53, has over twenty-five years experience as an
entrepreneur and executive in the wireless communications and
semiconductor industries. From May 2004 to March 2008, Mr. Gold was a
Managing Director of InnoCal Venture Capital. He served as President and
Chief Executive Officer of Nova Crystals, Inc., a supplier of optical
sensing equipment, from December 2002 until May 2004, and from June 2002
to July 2003 he was Chairman of Radia Communications, Inc., a supplier
of wireless communications semiconductors. Prior to this, Mr. Gold was
the Chief Executive Officer of Genoa Corp. and Pacific Monolithics,
Inc., co-founder and VP/GM of Adams-Russell Semiconductor, and
co-founder and VP Sales of International Microsystems. He began his
career as an engineer with Hewlett-Packard. He received a BS in
engineering physics from Cornell University, an MBA from Northeastern
University and a PhD in electrical engineering from Stanford University.
About CalAmp Corp.
CalAmp is a leading provider of wireless communications products that
enable anytime/anywhere access to critical information, data and
entertainment content. With comprehensive capabilities ranging from
product design and development through volume production, CalAmp
delivers cost-effective high quality solutions to a broad array of
customers and end markets. CalAmp is a supplier of DBS outdoor customer
premise equipment to the U.S. satellite television market. The Company
also provides wireless data communication solutions for the telemetry
and asset tracking markets, private wireless networks, public safety
communications and critical infrastructure and process control
applications. For additional information, please visit the Company’s
website at www.calamp.com.
Forward-Looking Statements
Statements in this press release that are not historical in nature are
forward-looking statements that involve known and unknown risks and
uncertainties. Words such as "may", "will", "expect", "intend", "plan",
"believe", "seek", "could", "estimate", "judgment", "targeting",
"should", "anticipate", "goal" and variations of these words and similar
expressions, are intended to identify forward-looking statements. Actual
results could differ materially from those implied by such
forward-looking statements. Although CalAmp believes the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions, it can give no assurance that its expectations will be
attained. CalAmp undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
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