ATI Announces Retirement of Chairman

[Kerii]

Press Releases | Posted by Brandon Hill on Nov 22nd, 2005 from In-House

One of the founding fathers of ATI Technologies has stepped down from his position as Chairman. K.Y. Ho was there from ATI's humble beginnings in 1985, but has chosen to spend more time with his family and persue other interests. His presence will surely be missed:

MARKHAM, Ontario, Nov 22, 2005 (BUSINESS WIRE) -- ATI (TSX:ATY)(NASDAQ:ATYT) announced today that its Chairman, K.Y. Ho, has retired as a director and officer of the Company. Mr. Ho was a founder of ATI in 1985 and also served as the Company's Chief Executive Officer until June 1, 2004. Mr. Ho stated, "ATI has been more than a major part of my career, it has been a part my life that I will always treasure. With the OSC matter now resolved completely in my favour, I have decided to spend more time with family and pursue my personal interests. I leave ATI with confidence that under the continued leadership of our CEO David Orton, ATI will successfully continue its track record as the leading graphics company in the world."

The Company also announced that David Orton will be nominated for election as a director of ATI at the Annual Meeting of Shareholders which has been scheduled for January 26, 2006 in Toronto. Also being nominated are James Fleck, Alan Horn, John Caldwell, Paul Russo, Ronald Chwang and Robert Young, all of whom currently are directors of ATI. Mr. Fleck, who is an independent director and has been serving as the Company's lead director, has been elected by the Board as ATI's new non-executive Chair of the Board.

"ATI will be forever indebted to K.Y. for his founding role with the Company and his vision and leadership in building this remarkable Company over the past 20 years," stated Mr. Fleck. "The addition of Dave Orton to the Board provides a logical and welcome succession for K.Y.'s departure." Mr. Fleck also added that, "K.Y. will be missed by all at ATI but we are comforted that he will continue to be available to provide his counsel to us as the need arises."


Link: http://www.anandtech.com/news/shownews.aspx?i=25328