Contact Information: For More Information Investor Contacts: Suzanne Craig The BlueShirt Group for SMART Modular Technologies +1 415 217-7722 Barry Zwarenstein Chief Financial Officer and Senior Vice President SMART Modular Technologies +1 510 624-8134
Kimberly E. Alexy Joins the Board of Directors of SMART Modular Technologies
| Source: SMART Modular Technologies
NEWARK, CA--(Marketwire - September 2, 2009) - SMART Modular Technologies (WWH), Inc. ("SMART"
or the "Company") (NASDAQ : SMOD ), a leading independent manufacturer of
memory modules, solid state drives, embedded computing subsystems, and
TFT-LCD display products, today announced that Kimberly E. Alexy has been
appointed to serve on the Company's board of directors and its audit
committee, effective September 1, 2009. Ms. Alexy's appointment to the
board follows the June 23, 2009 resignation of Dipanjan Deb, who had served
as a director since April 2004. Effective upon Ms. Alexy's appointment,
SMART's board will continue to consist of nine directors, six of whom are
independent under NASDAQ rules.
Ms. Alexy is the principal of Alexy Capital Management, a private
investment management firm that she founded in 2005. From 1998 to 2003,
she served as senior vice president and managing director of equity
research for Prudential Securities and was its principal technology
hardware analyst. Ms. Alexy has been recognized as "Best on the Street" in
the computer sector by the Wall Street Journal and ranked as a top equity
research analyst by Institutional Investor Magazine. Prior to Prudential,
Ms. Alexy served as vice president of equity research at Lehman Brothers,
where she covered the computer hardware and storage sectors and composed
research launch reports for the successful IPOs of companies including
Maxtor Corp. and NetApp, Inc. Before joining Lehman Brothers, Ms. Alexy
was assistant vice president of corporate finance at Wachovia Bank, where
she worked on private placements, mergers and structured finance
transactions.
In addition to SMART, Ms. Alexy serves on the boards of CalAmp Corp.
(NASDAQ : CAMP ), which provides wireless datacom and satellite products, Dot
Hill Systems Corp. (NASDAQ : HILL ), which supplies storage systems and
software, and SouthWest Water Company (NASDAQ : SWWC ), which provides water
and wastewater services. Previously, Ms. Alexy served on the board of
Maxtor Corp., the second largest disk drive manufacturer until its
acquisition by Seagate Technology (NASDAQ : STX ) in 2006. Ms. Alexy is a
Chartered Financial Analyst (CFA) and holds an M.B.A. with a concentration
in Finance and Accounting from the College of William and Mary and a B.A.
from Emory University.
"We are very pleased that Kimberly has joined SMART's board," said Ajay
Shah, chairman of the board of SMART. "Kimberly's background in the equity
markets and knowledge of the technology sector will strengthen the
Company's breadth and depth of expertise and help drive our business
forward."
"On behalf of the board, I would like to extend our sincere appreciation to
Dipanjan for his dedication and contribution to SMART," continued Shah.
"Over the last five years his guidance and support have been invaluable,
and we wish him all the best."
About SMART
SMART is a leading independent designer, manufacturer and supplier of
electronic subsystems to original equipment manufacturers, or OEMs. SMART
offers more than 500 standard and custom products to OEMs engaged in the
computer, industrial, networking, gaming, telecommunications, and embedded
application markets. Taking innovations from the design stage through
manufacturing and delivery, SMART has developed a comprehensive memory
product line that includes DRAM, SRAM, and Flash memory in various form
factors. Under its Adtron brand, SMART also offers high performance, high
capacity solid state drives for enterprise, defense/aerospace, industrial
automation, medical, and transportation markets. Its Embedded Products
Division develops embedded computing subsystems, backed by design and
manufacturing, for markets supporting test equipment, 3G infrastructure,
and network processing applications. SMART's Display Products Group
designs, manufactures, and sells thin film transistors (TFT) liquid crystal
display (LCD) solutions to customers developing casino gaming systems as
well as embedded applications such as kiosk, ATM, point-of-service, and
industrial control systems. SMART's presence in the U.S., Europe, Asia,
and Latin America enables it to provide its customers with proven expertise
in international logistics, asset management, and supply-chain management
worldwide. For more information, visit the Company's website at
www.smartm.com.
Forward-Looking Statements
Statements in this press release that are not historical in nature are
forward-looking statements that involve known and unknown risks and
uncertainties. Words such as "will," "believes," "anticipates,"
"estimates," "expects," "intends" or similar words are intended to identify
forward-looking statements, which are made pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995. Actual
results could differ materially from those implied by such forward-looking
statements. Although the Company believes the expectations reflected in
forward-looking statements are based upon reasonable assumptions, it can
give no assurance that its expectations will be attained. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether the result of new information, future events or
otherwise.