SAN JOSE, Calif., April 19, 2011 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc., (Nasdaq:OCZ) a leading designer, manufacturer and distributor of high-performance solid state drives, today announced that it has appointed Ralph Schmitt to its board of directors as an independent non-executive director.
"We are pleased to welcome Ralph Schmitt to our board," said Ryan Petersen, CEO and chairman of OCZ Technology Group. "Ralph has been involved in the semiconductor industry for over 25 years and chairs the Global Semiconductor Alliance (GSA) Emerging Company Council. His extensive board-level and executive management experience for numerous fast growing semiconductor companies, coupled with his strong technical background, will be a valuable addition as we continue to capitalize on the latest SSD industry trends."
Since 2008, Schmitt has served as president and CEO of PLX Technology, Inc., a global provider of semiconductor-based connectivity solutions primarily targeting the enterprise and consumer markets. He has also chaired the GSA Emerging Company Council since 2010. During 2008, he consulted with a variety of venture capitalists, and acted as CEO of Legend Silicon, a privately funded Chinese terrestrial digital TV semiconductor company. From 2005 through 2007, Schmitt was CEO of Sipex, an analog semiconductor company that merged with Exar in 2007, where he was appointed CEO. From 1999 to 2005, Schmitt was executive vice president of Sales, Marketing, and Business Development for Cypress Semiconductor where he led sales growth to more than $1 billion while also overseeing the acquisition and integration of numerous companies. Schmitt has served on the boards at Cypress subsidiaries and other privately held semiconductor and systems companies. Schmitt holds a BSEE from Rutgers University.
About OCZ Technology Group, Inc.
Founded in 2002, OCZ Technology Group, Inc. (OCZ) is a leader in the design, manufacturing, and distribution of high performance and reliable solid-state drives (SSDs). OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products. For more information, please visit: www.ocztechnology.com.
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Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "would," "expect," "anticipate," "should" or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, market acceptance of OCZ's products and OCZ's ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ's ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ's ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in "Risk Factors" in OCZ's Prospectus filed with the SEC on April 8, 2011. The filing is available both at www.sec.gov as well as via OCZ's website at www.ocztechnology.com. OCZ does not undertake to update its forward-looking statements.