JAZZ TECHNOLOGIES, INC. ANNOUNCES RESIGNATION OF SHU LI, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF SUBSIDIARY JAZZ SEMICONDUCTOR; GIL AMELIO TO ASSUME OPERATING ROLE
NEW YORK - (March 30, 2007) - Jazz Technologies, Inc. (AMEX: JAZ) (formerly Acquicor Technology, Inc.) today announced that, effective March 30, 2007, Shu Li, the President and Chief Executive Officer of its wholly owned subsidiary, Jazz Semiconductor, Inc., will resign in order to pursue other opportunities. Gil Amelio, Chairman and Chief Executive Officer of the parent company, will assume Dr. Li’s duties, and will remain in this role for the foreseeable future.
Said Gil Amelio, “We thank Shu Li for his service. Shu has been with Jazz Semiconductor since its inception in 2002, and has overseen the company’s growth from just a few customers at the inception to more than 100 customers to date. Shu and his team have put a strong foundation into place, and I firmly believe that we are poised to take Jazz to the next level. As Jazz undertakes this latest phase in its evolution, I will work side by side with the Jazz management team and our employees to ensure that a smooth transition occurs and that we continue to deliver the highest quality of services for our customers.”
About Jazz Technologies and Jazz Semiconductor
Jazz Semiconductor, Inc., a wholly owned subsidiary of Jazz Technologies, Inc. (AMEX: JAZ), is an independent wafer foundry primarily focused on specialty CMOS process technologies, including High Voltage CMOS, SiGe BiCMOS and RFCMOS for the manufacture of highly integrated analog and mixed-signal semiconductor devices. The company's specialty process technologies are designed for customers who seek to produce analog and mixed-signal semiconductor devices that are smaller and more highly integrated, power-efficient, feature-rich and cost-effective than those produced using standard process technologies. Jazz Semiconductor’s customers target the wireless and high-speed wireline communications, consumer electronics, automotive and industrial end markets. Jazz Semiconductor's U.S. wafer fabrication facilities, and its and Jazz Technologies’ executive offices, are located in Newport Beach, CA. Jazz Technologies’ filings with the SEC are accessible on the SEC’s website at http://www.sec.gov. For more information, please visit http://www.jazzsemi.com and http://www.jazztechnologies.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words or phrases such as “plan,” “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “expect,” “anticipate,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” and similar expressions. Forward-looking statements are based largely on expectations and projections about future events and future trends and are subject to numerous assumptions, risks and uncertainties, which change over time. Actual results and consequences, including any expected benefits, could differ materially from those anticipated in forward-looking statements, current plans could change, and you should not place any undue reliance on such forward looking statements. Factors that could cause actual performance to differ from these forward-looking statements include the risks and uncertainties disclosed in Jazz Technologies’ filings with the SEC. Jazz Technologies’ filings with the SEC are accessible on the SEC’s website at http://www.sec.gov. Forward-looking statements speak only as of the date they are made. Jazz Technologies assumes no obligation to update forward-looking statements.
Investor Relations Contacts