Sirit Adds to Board Depth with Two New Appointments
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TORONTO, Sept. 29 /CNW/ - Sirit Inc. (TSX: SI), a leading provider of
radio frequency identification (RFID) technology, announced today the
appointment of two new members to its Board of Directors. The new appointees,
Mr. Art Mesher and Mr. Cal S. Haverstock were approved at the Board's regular
meeting in Toronto yesterday.
"With the goal of continuing to broaden the depth of our Board, I am
pleased with the addition of such seasoned professionals as Art and Cal," said
David Andrews, Chairman of the Board, Sirit Inc. "Art brings a deep
understanding of the supply chain and logistics marketplace which will lend
itself well to our targeted efforts within these markets. Likewise, Cal's
previous roles in executive management as well as a Board member with several
large multi-national companies will bring an international perspective and
serve to strengthen the team we have in place today."
"I am delighted to welcome both Cal and Art to our Board. Sirit seeks to
attract board members who bring a diverse set of skills and valuable
experience in the continuing development of the Company," commented Norbert
Dawalibi, President and Chief Executive Officer, Sirit Inc. "It is this
opportunity to leverage the unique expertise and perspective of our Board
which will enable us to effectively execute on our strategy and to position
Sirit as a global leader of enabling-RFID solutions."
Mr. Art Mesher is Chief Executive Officer of Descartes Systems Group
Inc., a leading provider of on-demand technology and services where he
oversees the Company's strategic operations with direct responsibility for the
executive management team. In 1998, Mr. Mesher joined Descartes where he led
the creation of the first on-demand logistics network that provides
application and communication capabilities. Before joining Descartes, Art
launched Integrated Logistics Strategies Services for the Gartner Group,
building the practice into a leading advisor to major global corporations.
Prior to Gartner, Art was President of Advanced Logistics Research, where he
helped numerous multinational companies develop and deploy emerging
technology-based supply chain strategies.
Mr. Cal Haverstock is President and CEO and a member of the Board of
Directors of Playdium Corporation, where he has spearheaded the restructuring
and refinancing of the company. In addition, Mr. Haverstock is President and
Chairman of Haverstock Associates, a consulting firm focused on strategic
corporate optimization. From 1993 to 1996, Mr. Haverstock was President & CEO
of Star Data Systems, a provider of real-time information systems to the
financial services industry. Between 1989 and 1993, he held various executive
positions at Bull HN Information Systems.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency
Identification (RFID) reader technology to OEMs and solution providers
worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers
are able to more rapidly bring high quality RFID solutions to the market with
reduced initial engineering costs. Sirit's products are built on more than 12
years of RF domain expertise addressing multiple frequencies (LF/HF/UHF),
multiple protocols and are compliant with global standards. Sirit's broad
portfolio of products and capabilities are easily customized to address new
and traditional RFID market applications including Supply Chain & Logistics,
Cashless Payment, Access Control, Inventory Control & Management, Asset
Tracking and Product Authentication. For more information on Sirit, visit
www.sirit.com.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities
Litigation Reform Act of 1995: Except for the statements of historical fact
contained herein, the information presented constitutes "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Sirit to be materially different from any future
results, performance or achievements expressed or implied by such forward-
looking statements. Readers are cautioned not to place undue reliance on these
forward-looking statements. Actual results may differ materially from those
indicated by these forward-looking statements as a result of risks and
uncertainties impacting Sirit's business which are discussed in the section
entitled "Description of the Business - Risks Factors" in Sirit's Initial
Annual Information Form dated March 22, 2005 as filed with the securities
regulatory authorities in Canada via SEDAR. Although Sirit has attempted to
identify important factors that could cause actual results to differ
materially, there may be other factors that cause results not to be as
anticipated, estimated or intended.
For further information: Lorelei L. Luchkiw, Sirit Inc., (416) 367-1897
x249, lluchkiw@sirit.com
