S3 Incorporated Accepts Resignation of George Hervey, Senior VP Finance and Chief
Financial Officer
PR Newswire - March 04, 1997 16:30
FINANCIAL SIII CPR MLM PER V%PRN P%PRN
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SANTA CLARA, Calif., March 4 /PRNewswire/ -- S3(R) Incorporated
(Nasdaq: SIII), the world's largest supplier of graphics, video and multimedia
accelerators(1), announced today that George Hervey, senior vice president of
finance and chief financial officer has resigned to join Galileo Technology of
San Jose, CA, a privately-held fabless semiconductor company which focuses on
networking products.
"While we are saddened to see George leave S3, we understand his
motivation in applying his expertise in leading another start-up to success,"
said Gary Johnson, president and CEO of S3 Incorporated. "George has been a
valued member of the executive staff and has played an integral role in the
growth and progress of S3. He leaves in place a solid financial support team
and we wish him well in his new endeavor."
An executive search is underway and S3 plans to aggressively identify and
pursue all qualified candidates to fill the position as quickly as possible.
Dale Lindly, corporate controller, will assume the role of acting CFO until a
replacement is named. Mr. Lindly has over 15 years of experience in finance
including the CFO position at other high technology companies.
"Leaving S3 is difficult for me. I am proud of the advancements we have
accomplished together and the talented people I have worked with during my
four years here. I am confident in the competence and energy of the
S3 management team and look forward to watching the future success of the
company," stated George Hervey, departing senior VP of finance and CFO.
About S3 Incorporated
S3 Incorporated, founded in 1989 with headquarters in Santa Clara,
California, is the world's largest supplier of multimedia acceleration
hardware and its associated software. S3 is committed to applying its
expertise in audio, video, graphics and platform acceleration to create
innovative and affordable products for the home, desktop and mobile markets.
The company's vision for the future is to also bring a rich, consumer
electronics-type experience to PC users -- integrating the best available
consumer multimedia technologies into the mainstream PC platform.
Except for historical information contained herein, the matters set forth
in this press release may be forward-looking statements that are subject to
risk and uncertainties, including the impact of competitive products and
pricing and of alternative technological advances, the timely and successful
development and market acceptance, of new products and upgrades to existing
products, and other risks detailed from time to time in S3's SEC reports.
S3 is a registered trademark of S3 Incorporated. The S3 corporate logo is
a trademark of S3 Incorporated. All tradenames referenced are the service
marks, trademarks, or registered trademarks of their respective manufacturers.
S3 Website Location: s3.com
(1) Source: Mercury Research (Scottsdale, AZ)
SOURCE S3 Inc.
CONTACT: Press, Nikki Tanis, 408-588-8000, ext. 8078, or email,
Ntanis@S3.com; or Investors, Sandy O'Halloran, 408-588-8000, ext. 3994, or
SandyOH@S3.com, both of S3 Inc.
I feel something "fishy" here. Could SIII be another CTN? |
