Valence Technology Announces Appointment of Roy A. Wright
PR Newswire - March 03, 1999 14:50
Former Chairman and CEO of Iwerks Entertainment Joins Maker of Advanced Technology Batteries as Senior Vice President of
Operations
HENDERSON, Nev., March 3 /PRNewswire/ -- Valence Technology, Inc. (Nasdaq: VLNC), a research and development company in
advanced, rechargeable, lithium polymer battery technology for commercialization, announces that Roy A. Wright has joined the company
as senior vice president of operations.
A veteran of more than 15 years in the computer industry, Mr. Wright, 54, was most recently chairman and chief executive officer of
Iwerks Entertainment, a Nasdaq traded company. He has also been the president and CEO of both RDI Computer Corporation and
Unison Technologies, Inc., as well as chief operating officer of Corvus Systems, Inc. and Victor Technologies, Inc.
"Roy's tremendous background and breadth of industry experience will be a real asset to Valence and the future of company," said Lev
Dawson, founder, chairman and CEO of Valence. "Over the last several years, our focus has been on developing and patenting
technologies for a new generation of rechargeable lithium polymer-based batteries for use in personal computers and other advanced
electronic devices. Now the company is aggressively pursuing a strategy to bring our technology, which holds the promise of greatly
improved battery performance compared with today's existing batteries, to the market. With his vast experience in both operations and
executive management, Roy will play a pivotal role in the success of this strategy. Indeed, Roy's proven leadership and experience with
successful technology-based manufacturing companies will be key to smoothly accomplishing Valence's transition from an R&D company
to a full-scale manufacturer of next-generation rechargeable batteries."
"Working with Valence is an exciting opportunity to bring all of my professional experience to bear," Mr. Wright said. "After making a
significant investment of time and resources developing its battery technology, Valence is now preparing for the commercialization of
products that provide better performance and greater safety than any battery currently on the market. My challenge will be to help refine
the production processes and procedures to ensure the profitability of this breakthrough technology."
Mr. Wright will be based out of the company's Henderson, Nev., headquarters.
Valence Technology is engaged in the research and development of advanced rechargeable batteries based on lithium polymer
technologies. The company is traded on the Nasdaq National Market under the symbol VLNC. Valence can be found on the Internet at
valence-tech.com.
SOURCE Valence Technology, Inc.
/CONTACT: Lev Dawson, Chief Executive Officer of Valence Technology,
Inc., 702-558-1000; or General Information, Virginia St. John-Needham, or
Analysts, Eileen Morcos, or Media, Marjorie Ornston, of The Financial
Relations Board, 310-442-0599/
/Web site: valence-tech.com
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