Presstek Announces Retirement of Williams, Pellow Resigns From Board
Press release from the issuing company
HUDSON, N.H., April 26 -- Presstek, Inc., a leading provider of environmentally responsible digital imaging solutions for the graphic arts and laser imaging markets, today announced the retirement of Mr. Richard A. Williams from Presstek's Board of Directors, and the resignation of Barbara A. Pellow from Presstek's Board of Directors. Mr. Williams has been Chairman of Presstek's Board of Directors since 1998, and was one of the company's founders in 1987. Ms. Pellow has been a member of Presstek's Board of Directors since January of 2003.
Formerly Chief Scientific Officer of the company, Mr. Williams has also held various other positions in the company including Chief Executive Officer. Prior to founding Presstek, Mr. Williams was Vice President of Engineering for Centronics Data Computer Corporation, where he was responsible for line matrix and laser printer development and introduction. He is a recipient of the Rochester Institute of Technology's Cary Award for having demonstrated technological innovation, adherence to the highest standards of quality, and meaningful advancement of the graphic arts and related industries. Williams will remain Chairman of the Board of Directors until the company's 2004 annual meeting, which is scheduled for June 8. Williams will not stand for reelection.
Regarding his departure from the Presstek Board of Directors, Mr. Williams congratulated the current management team on its success in charting a new, productive course for the Company. "I've seen a lot of changes in this company over the years," Williams said. "I leave the Board knowing that Presstek is in good hands and I can now focus my efforts on my retirement and my deer farm."
Of Mr. Williams' retirement, Presstek's President and Chief Executive Officer Edward J. Marino said, "Dick Williams' scientific and engineering expertise in both the graphic arts and laser imaging fields gave birth to the DI press, and made the vision of the printing press as a computer peripheral a reality. He is responsible for Presstek's growth into one of the world's leading providers of digital laser imaging. His work, together with that of his exceptional research and development team, has resulted in an extensive portfolio of patents, which are the foundation for our groundbreaking products. The board of directors, as well as all of us at Presstek and Lasertel extend our sincere thanks to Dick, and wish him all the best in his retirement."
Ms. Pellow is currently the Gannett Professor for Electronic Printing and Publishing at Rochester Institute of Technology's School of Printing Management and Sciences, as well as the Administrative Chair for the School of Print Media. The Eastman Kodak Company has announced that on May 1, 2003 Ms. Pellow will be joining Kodak as the Chief Marketing Officer and Vice President, Commercial Printing Group.
Commenting on her resignation, Ms. Pellow said, "Serving on Presstek's board of directors has been a wonderful opportunity for me. It has been a pleasure to work with such a diversified and experienced group of individuals, and gratifying to watch Presstek's growth from both a marketing and financial standpoint. With the industry's rapidly expanding adoption of digital technologies, this is an exciting time to be Presstek and I look forward to watching its progress.
Presstek's Marino said, "In the relatively short time that Barb has been on Presstek's board, she has provided immeasurable assistance to the company. Her strong industry background, dedication to the digitization of the printing industry and appreciation for the environmental advantages of Presstek's technology has helped shape the future direction of Presstek. We will miss Barb's talents, vision and intelligence. While we are disappointed to lose Ms. Pellow as one of Presstek's Board of Directors, we heartily congratulate her on her new position at Kodak and wish Barb the very best in everything she does."
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