Seasoned management team to launch new strategy, Savage named Chairman, Northgate to host annual shareholder meeting
Northgate Innovations Inc. (OTCBB:NGTE), a developer, manufacturer and distributor of innovative personal computers, notebooks, accessories and software, today formally announced the completion of an expanded management team. This new team will oversee the planning and execution of Northgate's existing business and execution of an exciting new product initiative and market opportunity. Extensive research recently conducted laid the groundwork for the initiative and validated market demand. The focus is on product and marketing execution designed to reach a potentially enormous untapped market opportunity.
The expanded management team includes consumer marketing, product and content management, business development and financial veterans with a wealth of combined experience in growth initiatives and launching new products and services. The team is led by Northgate's Chief Executive Officer, Kent A. Savage, who is also the newly elected chairman of the board. Savage was elected as chairman at the March 24, 2004 meeting of the board. Savage succeeded Andy Teng, who resigned from the board on March 23, 2004. This visionary team is pioneering a unique product and services platform designed to meet the explosive demands of an existing, currently unserved, customer segment. The approach is simply without precedent, said Savage. We intend to delight our customers with a completely new experience.
Proven industry executives include: Richard Shyu, president, Ted Muftic, chief financial officer, Bill Wilson, general counsel, Annie Bacon, vice president of marketing and Erik Smith, vice president of business development and programming.
Northgate Innovations Inc. also announced today it will be hosting its annual meeting of stockholders to be held on Wednesday, May 26, 2004, at the Pacific Palms Resort in City of Industry.
About Northgate Innovations Inc.
Northgate Innovations is a developer, manufacturer and distributor of innovative personal computers, notebooks, accessories and software. Its products are sold through online, retail and shopping network sales channels. Northgate can be contacted through its Web site at www.northgate.com or by telephone at 626-923-6000.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to significant risks and uncertainties. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, the company can give no assurance that such expectations or any of their forward-looking statements will prove to be correct, and future results may differ from those discussed in this press release. Important information regarding the factors that may affect the company's future performance is included in its public reports that it files with the Securities and Exchange Commission. The company disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future event, change in expectations, conditions or circumstances, or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The inclusion of any statement in this release does not constitute an admission by the company or any other person that the events or circumstances described in such statement are material.