Zoran Corporation Appoints Karl Schneider CFO, Adds to Management Team
07/23/98
PR Newswire
(Copyright (c) 1998, PR Newswire)
SANTA CLARA, Calif., July 23 /PRNewswire/ -- Zoran Corporation (Nasdaq: ZRAN), a leading provider of integrated circuits (ICs) and software for digital video and audio compression applications, today announced additions to its management team. Karl Schneider, 44, has been promoted to Vice President of Finance and Chief Financial Officer. Additionally, Dr. Shmuel Farkash, 42, has been promoted to the newly created position of Vice President, Video Products and Dr. Paul M. Farrelle, 39, has been appointed to Vice President of Engineering, Santa Clara, also a newly created position.
President and Chief Executive Officer Dr. Levy Gerzberg stated, "We are very pleased to be strengthening our management team by appointing seasoned executives to these key positions. They bring the depth of experience and talent that will benefit Zoran in maintaining its leading-edge position in the digital compression market."
Karl Schneider, Vice President Finance, Chief Financial Officer
Mr. Schneider, a Certified Public Accountant, has 20 years of financial management experience including nine years in public accounting and 11 years in senior financial positions at high-tech companies in the Silicon Valley. He came to Zoran from KLA-Tencor where he served as the controller for the company's Film Measurement and Robotics and Integrated Technologies divisions. Prior to KLA-Tencor, Mr. Schneider held controllerships at SCM Microsystems, Inc., Reply Corporation, Digital F/X, Inc. and Flextronics, Inc.
Dr. Shmuel Farkash, Vice President, Video Products
Dr. Farkash joined Zoran in March, 1992, and has served in various positions of increasing responsibility and has extensive experience in the development of algorithms and systems for image processing and image and video compression. While a manager of sales and marketing, Dr. Farkash was responsible for establishing Zoran as the leading compression technology provider for desktop video editing. In his new position, he will be responsible for the development of marketing, sales and customer support strategies for video products, including DVD , desktop video editing and digital still cameras. Dr. Farkash earned a Ph.D., M.S., and a B.S. in Electrical Engineering from the Technion-Israel Institute of Technology in Haifa, Israel.
Dr. Paul M. Farrelle, Vice President Engineering, Santa Clara
Dr. Farrelle joins Zoran after serving as Vice President of Engineering at Zapex Technologies, where he led a team that designed and implemented high-quality MPEG-2 encoders and the world's first commercial Dolby Digital (AC-3) encoder for the post-production and broadcast markets. Previously, he spent over nine years at Optivision, Inc., most recently as Chief Technologist. During his tenure at Optivision, he led the compression activities and the transition of those activities to a successful commercial enterprise selling MPEG video-based systems for storage and transmission applications. Dr. Farrelle earned a B.A. in Electrical Sciences from Cambridge University, England; a M.S. and Ph.D. in Electrical Engineering and Computer Science from University of California at Davis.
COMPANY PROFILE
Zoran develops and markets integrated circuits, integrated circuit "cores" and software for digital video and audio applications enabled by compression for PC and consumer multimedia markets. Zoran's product lines include JPEG codecs, MPEG and DVD decoders, Dolby Digital and MPEG audio decoders, real-time video CD and DVD software for the PC, and VLSI cores. The company's software is bundled by PC and graphic system manufacturers for software-only or hardware-assisted video CD, DVD , and JPEG compressed video playback on the PC. Current applications for Zoran IC products include professional and consumer video editing systems, filmless digital cameras, PC-based or stand-alone video CD systems and DVD players, and digital audio systems. For further information, please visit the company's World Wide Web site at zoran.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that are based on expectations and assumptions that involve a number of uncertainties and risks that could cause actual results to differ materially from those discussed in the forward-looking statements, including risks associated with the rapidly evolving markets for the company's products and uncertainties regarding the development of those markets; new product development and the ongoing introduction of new and enhanced products; intensive competition in the markets in which the company competes; Zoran's historic dependence on sales to a limited number of large customers and fluctuations in customer and product mix among those customers; the dependence on key personnel; and the reliance on international sales and operations. For additional information regarding these and other risks, reference is made to Zoran's Annual Report on Form 10-K for the year ended December 31, 1997 and on Form 10Q for the first quarter ended March 31, 1998.
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