NVE Names John K. Myers
Vice President of Development
EDEN PRAIRIE, Minn.--April 8, 2003--NVE Corporation (NasdaqSC:
NVEC) today announced that John K. Myers, age 54, has been named
to the new position of Vice President of Development.
In his new role, Myers will be responsible for Contract Research
and Development and New Product Development. The company's world-class
Research and Development group was previously led by NVE founder
and Chief Technology Officer James M. Daughton, Ph.D. Daughton,
age 66, will remain Chief Technology Officer and continue to provide
technical expertise.
Overall responsibility for worldwide coupler sales and marketing
will be assumed by Anthony F. Leali, who has been promoted from
National Sales Manager to Director of Standard Device Sales.
"We are fortunate to be able to transition the leadership
of Development and Coupler sales to such capable hands," commented
NVE President and Chief Executive Officer Daniel A. Baker, Ph.D.
"John has developed the Coupler business to its current success.
Now he will lead our development of practical spintronic products.
Anthony will continue his successful efforts to expand our distribution
and bring our revolutionary products to a broad market."
Myers has been with the company since 1997, previously serving
as Vice President of New Business Development and Vice President
of the Coupler Business Unit. He has 30 years of experience in management
and new business development, and holds B.S. in Electrical Engineering
and M.B.A. degrees from the University of Minnesota.
Leali has been with NVE for two years and has over 15 years of
sales and engineering experience. He has a B.S. in Electrical Engineering
from the University of Minnesota and an M.B.A. from the University
of St. Thomas.
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, the company's ability to satisfy NASDAQ's continued
listing requirements for SmallCap issuers, as well as the risk factors
listed from time to time in the company's filings with the SEC,
including the company's Annual Report on Form 10-KSB and other periodic
reports filed with the SEC.
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