SOURCE: ARC Wireless Solutions, Inc.
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November 18, 2008 17:52 ET
ARC Wireless Solutions, Inc. Announces Director and Officer Changes
WHEAT RIDGE, CO--(Marketwire - November 18, 2008) - ARC Wireless Solutions, Inc. (NASDAQ: ARCW)
(the "Company") announced today that the Company has elected Jason Young, a
director of the Company, to serve as the Company's interim Chief Executive
Officer and as Chairman of its Board of Directors (the "Board") and that
the Board has elected Viktor Nemeth and Marco Vega to serve as directors of
the Company. The Company also announced that Randall P. Marx has retired
from his positions as Chief Executive Officer, Secretary, director and
Chairman, and that Sigmund Balaban, Donald Huebner and Robert Wade have
retired from their respective positions as directors of the Company.
Commenting on these management changes, interim CEO Jason Young stated, "We
are grateful to each of the former Board members for their service to the
Company. We are particularly grateful to Randy Marx for his 17 years of
service and dedication to the Company, primarily as Chief Executive Officer
and Chairman of the Board. Randy has agreed to be available for us to
obtain his input as needed. I look forward to working with the new
directors with the objective of maximizing shareholder value in the
future."
About ARC Wireless Solutions, Inc.
ARC Wireless Solutions, Inc. is involved in selective design,
manufacturing, marketing and selling of a broad range of wireless
components and network products and accessories. The Company develops,
manufactures and markets proprietary products, including Wi-Fi® and
WiMAX™ panel antennas, mobile GPS, and cellular antennas, as well as
base station antennas (for cellphone towers), through its Wireless
Communications Solutions Division; it designs, manufactures and distributes
cable assemblies for cable, satellite and other markets through its
Starworks Wireless Inc. subsidiary; and it negotiates and manages its
contract manufacturing relationships through its ARC Wireless Hong Kong
Ltd. subsidiary. The Company's products and systems are marketed through
the Company's internal sales force, OEMs, reseller distribution channels,
retail, and the Internet. ARC Wireless Solutions, Inc., together with its
Wireless Communications Solutions Division and its Starworks Wireless Inc.
subsidiary, are headquartered in Wheat Ridge, Colorado. The Company's Hong
Kong subsidiary is located in Central, Hong Kong. For more information
about the Company and its products, please visit our web sites at
www.arcwireless.net, www.antennas.com, www.starworkswireless.com and
www.arcwirelesshk.net
This is not a solicitation to buy or sell securities and does not purport
to be an analysis of the Company's financial position. This Release
contains forward-looking statements within the meaning of the Securities
Exchange Act of 1934. Although the Company believes that the expectations
reflected in the forward-looking statements and assumptions upon which
forward-looking statements are based are reasonable, it can give no
assurance that such expectations and assumptions will prove to have been
correct. See the Company's most recent Quarterly Report on Form 10-Q and
Annual Report on Form 10-K for additional statements concerning important
factors, such as demand for products, manufacturing costs, and competition,
and the Company's ability to successfully utilize its cash, that could
cause actual results to differ materially from the Company's expectations.
The Company does not intend (and is not obligated) to update publicly any
forward-looking statements.