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NEWARK, Calif., September 2, 2009—SMART
Modular Technologies (WWH), Inc. (“SMART”) (NASDAQ: SMOD), a leading independent manufacturer of memory modules, solid state drives, embedded computing subsystems, and TFT-LCD display products, today announced that Kimberly E. Alexy has been appointed to serve on the Company's board of directors and its audit committee, effective September 1, 2009. Ms. Alexy’s appointment to the board follows the June 23, 2009 resignation of Dipanjan Deb, who had served as a director since April 2004. Effective upon Ms. Alexy’s appointment, SMART’s board
will continue to consist of nine directors, six of whom are independent under NASDAQ rules.
Ms. Alexy is the principal of Alexy Capital Management, a private
investment management firm that she founded in 2005. From 1998 to 2003,
she served as senior vice president and managing director of equity
research for Prudential Securities and was its principal technology
hardware analyst. Ms. Alexy has been recognized as "Best on the Street"
in the computer sector by the Wall Street Journal and ranked as a top
equity research analyst by Institutional Investor Magazine. Prior to
Prudential, Ms. Alexy served as vice president of equity research at
Lehman Brothers, where she covered the computer hardware and storage
sectors and composed research launch reports for the successful IPOs of
companies including Maxtor Corp. and NetApp, Inc. Before joining Lehman
Brothers, Ms. Alexy was assistant vice president of corporate finance
at Wachovia Bank, where she worked on private placements, mergers and
structured finance transactions.
In addition to SMART, Ms. Alexy serves on the boards of CalAmp Corp.
(NASDAQ: CAMP), which provides wireless datacom and satellite products,
Dot Hill Systems Corp. (NASDAQ: HILL), which supplies storage systems
and software, and SouthWest Water Company (NASDAQ: SWWC), which provides
water and wastewater services. Previously, Ms. Alexy served on the
board of Maxtor Corp., the second largest disk drive manufacturer until
its acquisition by Seagate Technology (NASDAQ: STX) in 2006. Ms. Alexy
is a Chartered Financial Analyst (CFA) and holds an M.B.A. with a
concentration in Finance and Accounting from the College of William and
Mary and a B.A. from Emory University.
“We are very pleased that Kimberly has joined SMART’s board,” said
Ajay Shah, chairman of the board of SMART. “Kimberly’s background in
the equity markets and knowledge of the technology sector will
strengthen the Company’s breadth and depth of expertise and help drive
our business forward.”
"On behalf of the board, I would like to extend our sincere
appreciation to Dipanjan for his dedication and contribution to SMART,"
continued Shah. “Over the last five years his guidance and support have
been invaluable, and we wish him all the best.”
About SMART SMART is a leading
independent designer, manufacturer and supplier of electronic subsystems
to original equipment manufacturers, or OEMs. SMART offers more than
500 standard and custom products to OEMs engaged in the computer,
industrial, networking, gaming, telecommunications, and embedded
application markets. Taking innovations from the design stage through
manufacturing and delivery, SMART has developed a comprehensive memory
product line that includes DRAM, SRAM, and Flash memory in various form
factors. Under its Adtron brand, SMART also offers high performance,
high capacity solid state drives for enterprise, defense/aerospace,
industrial automation, medical, and transportation markets. Its
Embedded Products Division develops embedded computing subsystems,
backed by design and manufacturing, for markets supporting test
equipment, 3G infrastructure, and network processing applications.
SMART's Display Products Group designs, manufactures, and sells thin
film transistors (TFT) liquid crystal display (LCD) solutions to
customers developing casino gaming systems as well as embedded
applications such as kiosk, ATM, point-of-service, and industrial
control systems. SMART's presence in the U.S., Europe, Asia, and Latin
America enables it to provide its customers with proven expertise in
international logistics, asset management, and supply-chain management
worldwide. For more information, visit the Company’s website at www.smartm.com.
in this press release that are not historical in nature are forward-looking statements that involve known and unknown risks and
uncertainties. Words such as "will," "believes," "anticipates," "estimates," "expects," "intends" or similar words are intended to
identify forward-looking statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those implied by such forward-looking statements. Although the Company believes the expectations reflected in forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. The Company undertakes no obligation to update or revise any forward-looking statements, whether the result of new information, future events or otherwise.