James D. Hartman Elected to NVE's Board of Directors
EDEN PRAIRIE, Minn.--August 14, 2006--NVE Corporation (Nasdaq:
NVEC) announced that James D. Hartman, Chairman of the Board of
Enpath Medical, Inc. (NasdaqGM: NPTH), was elected to NVE's board
of directors at the NVE annual meeting of shareholders held today.
Hartman, 60, replaces NVE Founder James M. Daughton, Ph.D. on NVE's
board of directors. Daughton, 69, retired as an NVE director and
officer effective with the annual meeting today but remains a company
employee.
Each of NVE's other incumbent directors was reelected to serve
on the board of directors until the company's 2007 annual meeting.
Hartman is expected to be elected to the company's audit committee
by the board of directors.
Hartman joined Enpath in 1991 and was Enpath's chief executive
officer from February 1996 until retiring from that position in
January 2006. Enpath is a medical products company engaged in designing,
developing, manufacturing, and marketing products and accessories
for the cardiac rhythm management, neuromodulation and interventional
radiology markets as well as manufacturing of medical devices and
components for other medical product companies on a contract basis.
Prior to joining Enpath, Mr. Hartman was Vice President-Finance
for Viking Electric Supply, Inc., a distributor of electrical supplies
and tools.
"We are delighted to have Jim Hartman join our board,"
said NVE President and Chief Executive Officer Daniel A. Baker,
Ph.D. "He has a wealth of business experience, particularly
in the medical device industry. Furthermore, his experience running
a public company and his financial expertise will help NVE continue
to meet the highest standards for corporate governance."
NVE is a leader in the practical commercialization of spintronics,
a nanotechnology that many experts believe represents the next generation
of microelectronics. NVE licenses its MRAM intellectual property
and sells spintronic sensors and couplers to revolutionize data
sensing and transmission.
Statements used in this press release that relate to future
plans, events, financial results or performance are forward-looking
statements that are subject to certain risks and uncertainties including,
among others, such factors as risks related to attracting and retain
highly-qualified employees, risks related to legal proceedings,
as well as the risk factors listed from time to time in our filings
with the SEC, including our Annual Report on Form 10-K and other
reports filed with the SEC.
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