American Technology Corporation Announces John Zavoli to Become President and COO; Company Also Adds Senior Sales and Marketing Talent, Adjusts Responsibilities of Government and Force Protection Group
SAN DIEGO--(Business Wire)--Oct. 18, 2005--
American Technology Corporation (ATC) (NASDAQ:ATCO), a
leading innovator of directed sound reproduction technologies and
products, today announced that John Zavoli has accepted the position
of president and chief operating officer commencing November 1, 2005.
He will succeed Kalani Jones who resigned as president, chief
operating officer and director. Mr. Zavoli has been an independent
member of ATC's board since June, and has served on the audit and
compensation committees.
Mr. Zavoli previously was the president, chief executive officer
and chief financial officer of Path 1 Network Technologies Inc.
(AMEX:PNO), a San Diego-based provider of IP broadcast video transport
and routing systems. Zavoli brings more than 20 years of multinational
financial, operating, corporate finance and Big 4 consulting
experience to ATC. He has directed corporate financial, treasury, tax,
and legal operations for major public and VC-funded corporations, and
has held senior financial roles at Digital Equipment Corporation,
Madge Networks and Waste Management International. He also is a former
partner at PricewaterhouseCoopers LLP, where he advised high tech
clients in global operations, taxation, fiscal management, M&A, and
other related issues. Zavoli has a Bachelor of Science in Accounting
from the University of Illinois, a J.D. from the John Marshall Law
School, and a Master of Laws from Boston University School of Law.
Elwood G. Norris, founder and chairman of ATC, said, "I'm very
pleased to have John Zavoli lead ATC in the transition from
engineering and development to worldwide sales, marketing and
licensing of our innovative directed sound technologies and product
line. Through his services as a director he has become knowledgeable
about our staff, products and operations and can immediately apply his
experience in financial and business management to maximize our
opportunity as the leader in directed sound solutions. I have been
very impressed by John's leadership, experience and vision, and his
ability to identify our challenges and provide sound marketing,
financial, and administrative advice."
"I am very impressed with ATC's directed sound technologies and
excited to join an excellent team that I believe is positioned to
achieve market success," said Zavoli. "I am confident my strengths
will help manage and administer the company's growth in this new and
demanding operating environment while allowing Woody to focus on
extending our technologies into even further audio applications with
ATC's unparalleled line of directed sound products."
The company also announced the following hires and changes to
enhance its sales and marketing leadership and focus its government
and force protection group:
-- Mike Donath has been hired as senior director of domestic and
international government and force protection sales. Donath
has more than 30 years of domestic and international
experience, mainly with Motorola and General Dynamics,
establishing government and military sales channels. Donath
will establish and manage ATC's worldwide government and
military sales channels with emphasis on developing outside
representatives for paramilitary and local government directed
sound business.
-- A.J. Ballard has been given the new title of senior director
of U.S. military sales. Ballard will be focused on generating
large LRAD(TM), MRAD(TM) and NeoPlanar(R) sales contracts and
business opportunities directly with U.S. military agencies.
-- Chris Bursey has been hired as director of licensing and OEM
sales. Bursey has formerly held OEM sales positions with
Novatel Wireless and Wavecom. Bursey will be primarily focused
on OEM sales of ATC's proprietary products and the licensing
of the company's extensive patent portfolio. As part of his
OEM sales responsibilities, Bursey is tasked with expanding
ATC's NeoPlanar component business.
-- ATC is also expanding commercial sales channels in Europe and
Asia directly and through distributors and manufacturers
representatives.
"We welcome John, Mike and Chris to ATC and look forward to
working with them in building our domestic and international business
through expanding market awareness and increased sales and licensing
of our revolutionary directed sound products and technologies
throughout the world," Norris concluded.
About American Technology Corporation
American Technology Corporation is Shaping the Future of Sound(R)
by developing, manufacturing and globally distributing its proprietary
sound technologies and products which include: the award-winning
HSS(R) (HyperSonic(R) Sound technology); LRAD(TM) (Long Range Acoustic
Device) products family; NeoPlanar(R) products family, Sound
Vector(TM) technology, and others. The Company is establishing a
strong portfolio of patents, trademarks, and intellectual property
including over 320 U.S. and foreign patents and pending patent
applications to date. For more information on the company and its
technologies and products please visit our web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information contained
herein, the matters discussed are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act. You should
not place undue reliance on these statements. We base these statements
on particular assumptions that we have made in light of our industry
experience, the stage of product and market development as well as our
perception of historical trends, current market conditions, current
economic data, expected future developments and other factors that we
believe are appropriate under the circumstances. These statements
involve risks and uncertainties that could cause actual results to
differ materially from those suggested in the forward-looking
statements, including but not limited to, Mr. Zavoli's performance in
his new position, risks associated with international operations
including the effect of laws and practices in other jurisdictions
which are different that those in the United States, market acceptance
of our directed sound technologies and products, entry of competitors,
the possibility our intellectual property protections will not prevent
others from marketing products similar to or competitive with our
products, potential technical or manufacturing difficulties that could
delay product deliveries or increase warranty costs, and other risks
identified and discussed in our filings with the Securities and
Exchange Commission. These forward-looking statements are based on
information and management's expectations as of the date hereof.
Future results may differ materially from our current expectations.
American Technology Corporation disclaims any intent or obligation to
update those forward-looking statements, except as otherwise
specifically stated.
American Technology Corporation
Investor Relations:
Robert Putnam, 858-679-3168
robert@atcsd.com
or
Media Inquiries:
Don Mathias, 949-855-4520
dwmath@aol.com
Copyright Business Wire 2005
18Oct05 12:30 GMT
Symbols:
de;TC1 us;ATCO |
