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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE) -- Ignore unavailable to you. Want to Upgrade?

To: chuckj who wrote (8486)	12/19/1997 3:18:00 PM
From: stock talk	Read Replies (6) \| Respond to of 14577

Terry Holdt Named CEO, President and Chairman; Gary Johnson Appointed Vice Chairman of the Board; Diosdado Banatao Resigns as Chairman But Remains on the Board SANTA CLARA, Calif., Dec. 19 /PRNewswire/ -- S3(R) Incorporated (NASDAQ:SIII) today announced it has appointed Terry Holdt as its Chief Executive Officer, President and Chairman of the Board. Gary Johnson has been named Vice Chairman of the Board and co-founder Diosdado Banatao has resigned as Chairman of the board, but will continue to serve as a member of its Board of Directors. "I look forward to returning to full-time operational responsibility at the helm," said Terry Holdt. "Based on products currently under development, I expect S3 to re-enter the high end of the PC graphics market in 1998. Gary will remain to support me by continuing to focus on a number of key strategic initiatives he launched during the last year and Dado will remain on the Board and assist on strategic direction." "Having remained active as Vice Chairman at S3 since my retirement from full-time CEO duties in August 1996, I expect to assume responsibility of S3's core business immediately," said Terry Holdt. "I am extremely committed to S3, with my ultimate goal of bringing in a long-term replacement for me to lead the company through its next level of growth." Mr. Banatao indicated that his growing level of outside commitments had necessitated the change in his role at the Company. "I am currently involved with a number of start-ups, in which I have participated as a seed investor and Board member. As these companies have grown, the time demands on me have increased and caused me to re-evaluate the nature of my time commitments. I remain on the S3 Board, however, and am committed to its success." The composition of the Board of Directors remains unchanged with S3's co-founders, Dado Banatao and Ron Yara, continuing as Directors of the Company. Mr. Holdt served as President, CEO and a Director of the Company from January 1992 until his retirement in August 1996, and has remained active at S3 since 1996 as Vice Chairman of the Board. Mr. Holdt is a veteran with 29 years experience in the semiconductor industry, having previously served in executive positions with a number of companies, including Linear Corporation and Western Digital Corporation. Mr. Holdt holds a B.S.E.E. and a M.S.E.E. from the University of Illinois. 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, such as statements relating to the company's ability to drive technological developments, the timing of scheduled product introductions, and the ability of the company to successfully integrate new technologies, are 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, both alone and with the company's development partners, of new products and upgrades to existing products, market acceptance of the company's new 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. Other marks referenced herein are the property of their respective owners. NOTE: Source: Mercury Research SOURCE S3 Incorporated -0- 12/19/97 /CONTACT: media, Kelly Morris, Corporate Communications, 408-588-8023; or investors, Walt Amaral, Sr. VP of Finance, CFO, 408-588-8007, both of S3/ Companies or Securities discussed in this article: Symbol Name NASDAQ:SIII S3 Inc STOCK JUST JUMPED TO 5 1/2 X 5 9/16 ON THE NEWS IN THE FIRST 3 MINUTES*