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Intrinsyc Announces appointment of new Chief Executive Officer and Chairman
Vancouver, BC, July 24, 2006, Intrinsyc Software International, Inc. (TSX:ICS) ("Intrinsyc" or the "Company"), a mobility software and services company, today announce that Glenda M. Dorchak has been appointed Chief Executive Officer, succeeding CEO and founder Derek Spratt, and has been appointed to the board of directors of Intrinsyc as Chairman.
Glenda M. Dorchak comes to Intrinsyc from Intel Corporation and has 30 years experience in the technology industry. She began her career with IBM Canada in Vancouver BC in 1974 and was with IBM in Canada and the US for over 20 years holding positions including Director of Marketing, Personal Systems Group North America and Director, PC Direct. Ms. Dorchak also worked in two start-up ventures, Ambra US, an IBM Company, based in Raleigh NC where she was Director, Sales and Service and Value America where she was President and later Chairman and CEO. Ms. Dorchak joined Intel Corporation in 2001 as Vice President and COO, Intel Communications Group and later held several positions as Vice President and General Manager including the Consumer Electronics Group. Ms. Dorchak also served as an independent director of Intrinsyc in 2004 and 2005.
"I am excited to join the Intrinsyc organization with its solid record providing software and services in the embedded space and tremendous growth potential with it's new Soleus customizable feature phone platform", Dorchak said. "Intrinsyc is well positioned to become a leading supplier of software solutions for hand held devices and I look forward to working with Intrinsyc's customers and partners to ensure their Soleus products achieve success".
Derek Spratt, who founded the Company in 1996, and rejoined the Company as CEO in 2003 until a succession plan could be developed and implemented, will step down as CEO and resign from the board of directors effective July 31, 2006. He will continue to serve as a consultant to the Company. "I am pleased with our progress, particularly since introducing the Soleus solution and believe that Glenda has both the experience and knowledge to lead the Company's growth in this exciting market", Spratt said.
"Ms. Dorchak brings a proven track record and deep industry experience which will be instrumental in delivering growth for the Company", said Dr. Robert Gayton, Lead Independent Director of the Intrinsyc board.
About Intrinsyc Software International, Inc.
Intrinsyc is a mobility software and services company. Its mobile software products, engineering design services and systems integration expertise help customers make better decisions, improve productivity, and reduce time-to-market. Since 1996, Intrinsyc has built a strong customer base and has formed solid alliances with many leading technology companies including Microsoft, IBM, Intel, Philips, Siemens, Symbian, General Electric, Hand Held Products, Texas Instruments and Ford.
Named a Microsoft Gold Partner, Intrinsyc has extensive experience with the intricacies of designing, developing and supporting voice and data-enabled handsets built on Microsoft's Windows™ CE operating system. Intrinsyc is also the creator and licensor of Soleus™, the world's first feature phone software platform based on Windows™ CE. Soleus™ offers a new way to build feature phones, providing pre-integration with leading hardware platforms, all the telephony essentials and pre-integration of the most popular data applications.
Intrinsyc is a publicly traded company, headquartered in Vancouver, Canada with additional regional offices in Bellevue, Washington, and Birmingham, UK and Barbados. To find out more about Intrinsyc, visit: www.Intrinsyc.com.
Forward Looking Statements
This press release contains statements which, to the extent that they are not recitations of historical fact may constitute forward-looking information. Such forward-looking statements may include financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses or the Company's underlying assumptions. The words "may", "would", "could", "will", "likely", "expect", "anticipate", "intend", "estimate", "intend", "plan", "forecast", "project", "estimate" and "believe" or other similar words and phrases are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include the risk factors set out in the Company's Annual Information Form.
The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Intrinsyc is a registered trademark of Intrinsyc Software International, Inc. All other trademarks are registered trademarks of the respective owners, and are hereby acknowledged.
Media Contacts
Vince Schiralli, Intrinsyc Software International, Inc., +1 604-801-6461, vschiralli@intrinsyc.com
Investor Relations
Murray Duncan, Intrinsyc Software International, Inc., +1 604-801-6461, mduncan@intrinsyc.com
