Esmertec(TM) (SWX: ESMN), a leading provider of world-class software
solutions and services for the telecommunication, interactive multimedia and
consumer electronics markets announced that the Board of Directors has confirmed
the appointment of Jean-Claude Martinez as CEO of Esmertec. Since his
appointment as interim CEO in May 2006, Mr. Martinez has organised his
management team in order to achieve key objectives: improve Esmertec's
operational performance and position the company more aggressively in its
targeted markets.
Jean-Claude Martinez has been an integral part of Esmertec since he joined the
Company in June 2002 as Senior Vice President of Sales. In March 2004, he was
appointed Chief Operating Officer, and from the end of 2005 until mid-May 2006,
he focused on growing the business of the Mobile Operator Division worldwide.
Hans-Ulrich Muller, Vice Chairman of Esmertec's Board of Directors, comments,
"Jean-Claude has over 25 years of experience in the IT and
telecommunications industry and is a hands-on manager who works closely with his
team. The Board is confident that he will lead Esmertec back to its growth path."
Reporting to Jean-Claude Martinez are Georges Boulloy as Chief Product Officer,
Deborah Choate as Chief Financial Officer, Sylvie Vollet as General Counsel and
VP of Human Resources, and Jean-Luc Gianduzzo as Executive Vice President (EVP)
of Global Services.
Following the disappointing sales performance and the restructuring of the sales
and service organisation, Billy Crotty, EVP Sales and Operations Worldwide, left
Esmertec on June 30, 2006. Esmertec is presently recruiting the EVP of Sales to
lead the Sales Group, and Jean-Claude Martinez will manage this position ad
interim.
Through the restructuring and other cost saving actions, Esmertec expects to
reduce its operating expenses by 15 to 20% from the current run rate, including
investments in product development. The management expects to benefit from the
full impact of the reduced costs beginning with the fourth quarter of 2006.
Pre-tax restructuring cash expenses, excluding any impact of impairment losses
on intangible assets, are estimated to be in the range of US$2 million to US$2.5
million, and Esmertec expects to record most of the restructuring costs in the
2006 first half-year results.
Esmertec will continue to invest in developing innovative products, expanding
its Java-based product portfolio and increasing its product offering to mobile
operators through its product development operations in China, France,
Switzerland, and in the UK.
Jean-Claude Martinez is CEO of Esmertec
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