OTTAWA, June 29 /CNW Telbec/ - MOSAID Technologies Inc. (TSX:MSD), today
announced that Donnie Moore has stepped down from the Board of Directors.
Mr. Moore was elected as a Director of the Company in November 2003. He served
as Chair of the Audit Committee from February 2005 until now and was a member
of the Special Committee of the Board since it was constituted in August 2006.
Mr. Moore was previously a member of the Corporate Governance and Nominating
Committee, as well as the Human Resources Committee.
"Donnie is a seasoned financial executive who served with distinction for
nearly five years on our Board," said Carl Schlachte, Chairman of the Board,
MOSAID. "In an era where financial and corporate governance regulations are
becoming increasingly stringent, Donnie's advice and counsel helped strengthen
MOSAID's long-standing reputation for financial integrity. We sincerely thank
him for his many contributions."
As part of a planned reorganization of the Board as MOSAID moves forward
as an intellectual property company, Norm Paquette, who was appointed to the
MOSAID Board of Directors on June 7, 2007, is taking on the role of Chair of
the Audit Committee, effective immediately. Mr. Paquette is a well known and
respected executive with over 20 years experience in financial management. A
founding member of Tundra Semiconductor Corp., he joined the company at its
inception in 1995 and served as Chief Financial Officer from 1999 until August
Mr. Moore's career spans more than 30 years of financial and
administrative experience in the computer industry, including over 12 years at
Cognos Incorporated as Senior Vice President, Finance and Administration, and
Chief Financial Officer. Before joining Cognos, Mr. Moore was Corporate
Director, Plans and Analysis, at the world headquarters of Burroughs
Corporation in Detroit, Michigan. Prior to that, Mr. Moore held CFO positions
with Burroughs in Canada and New Zealand. He holds a Bachelor of Science
degree in engineering from the University of Oklahoma and an MBA in finance
from the University of Houston.
MOSAID Technologies Inc. is one of the world's leading intellectual
property companies. MOSAID develops semiconductor memory technology, and
licenses patented intellectual property in the areas of semiconductors, and
wired and wireless communications systems. MOSAID counts many of the world's
largest semiconductor companies among its customers. Founded in 1975, MOSAID
is based in Ottawa, Ontario, with an office in Santa Clara, California. For
more information, visit www.mosaid.com.
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