EFI Appoints Mark Adams to Vice President of Corporate Development and Strategy
Press release from the issuing company
FOSTER CITY, Calif.-- April 7, 2005-- EFI, the world leader in digital imaging and print management solutions for commercial and enterprise printing, today announced the appointment of Mark Adams as Vice President of Corporate Development and Strategy. Adams has a distinguished, extensive record of driving high growth businesses, with demonstrated expertise in strategy development, corporate mergers, acquisitions, financing, and global software/hardware development and distribution in the U.S., Europe and Asia.
Adams' joining EFI corresponds with the Company's stated direction to aggressively pursue significant acquisition opportunities. His charter is to identify and evaluate strategic opportunities for EFI and identify the best path to achieve growth in key markets. This effort includes leveraging existing business partnerships and creating new ones, developing internal business plans for new ventures and, after identifying key growth markets, defining acquisition targets and consummating deals. He will work closely with the senior management team to enhance corporate strategy and increase revenue and profitability.
"Mark has already added tremendous value to EFI while working with us as a consultant over the last few months," said Guy Gecht, CEO, EFI. "We've benefited from his broad experience and meticulous research, as well as from the creative new business development ideas he has brought to our discussions. Mark's deep entrepreneurial background is also a great fit for EFI and we look forward to further contributions as he officially takes on the role of Vice President of Corporate Development and Strategy."
Prior to joining EFI, Adams was acting Vice President, Data Networking, with VTech Communications, the market leader for cordless telephones. Adams was instrumental in developing the company's strategy for VoIP products and services. Before VTech, he founded and was CEO of Mspect, a wireless infrastructure start-up he led from concept through sale of the company to Telephia. Earlier, he founded and was CEO of Burningpoint.com, a spin-out from Adaptec focused on digital music. He was Vice President, Business Development, at storage solutions global leader Adaptec, where he was responsible for a major restructuring that increased the market value of the company by $5 billion. In addition, he held high-level positions at GE Capital, Nusantara Investment Fund/Teak Investment Partners. At McKinsey & Company, Inc., Adams specialized in strategy development and restructuring for telecommunications, manufacturing and change-management programs for global corporations.
Adams holds a Master of Business Administration with distinction in strategic planning and finance from The Wharton School, University of Pennsylvania, and a Bachelor of Arts with distinction in economics from Cornell University.
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