Also a new director in the news.
SANTA MONICA, Calif.--(BUSINESS WIRE)--June 30, 1997--Osicom Technologies, Inc. (NASDAQ:FIBR) today announced the appointment of Humbert B. Powell III to its Board of Directors. A 22 year investment banking veteran, Powell has served as vice chairman and director of Marleau, Lemier Securities and senior managing director of Bear Stearns & Co.
Mr. Powell is currently a managing director of Sanders Morris Mundy, a Houston-based financial services and investment banking firm. From 1988 to 1995 he served as a senior managing director in the corporate finance department of Bear Stearns & Co., with responsibility for the firm's domestic and international investment banking activities. He previously spent 18 years at E.F. Hutton where he was a senior vice president and director.
Par Chadha, Osicom's chief executive officer said, "We are proud to welcome Humbert Powell to our board. Humbert has impressive credentials from well-respected investment banking and securities firms and his background and experience will be particularly helpful as we implement our strategic plan going forward."
The Company also announced that Barry Witz has resigned from the Board for health reasons. Commenting on Mr. Witz' resignation, Mr. Chadha added, "Barry Witz was a valuable board member, and his advice and guidance will be greatly missed. All of us wish him a speedy and thorough recovery. |
