NVE Promotes
Curt A. Reynders to Chief Financial Officer
Richard L. George Retires as CFO
EDEN PRAIRIE, Minn.--January 18, 2006--NVE Corporation (Nasdaq:
NVEC) announced today that Richard L. George retired as Chief Financial
Officer and Treasurer on January 16, 2006. George will remain with
the company on a part-time basis concentrating on Government contract
administration. Curt A. Reynders has been promoted to the position
of Chief Financial Officer and Treasurer.
Reynders, 43, has been NVE's controller since 2001. Before joining
NVE he served in various accounting, auditing and accounting management
positions with public accounting and industry firms. Reynders earned
a B.S. in Accounting and Economics from Morningside College and
is a Certified Public Accountant.
"We appreciate Dick's contributions to NVE over the past nearly
15 years," said NVE President and CEO Daniel A. Baker, Ph.D.
"NVE has made tremendous progress during his tenure. Dick's
skills will remain available to us, and we are fortunate to have
an accomplished, experienced individual in Curt to assume the CFO
role."
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 the
risk factors listed from time to time in our filings with the SEC,
including our Annual Report on Form 10-KSB and other reports filed
with the SEC.
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