Pierre St-Arnaud Steps Down as SR Telecom's President and CEO - Mr. St Arnaud will continue to serve on Company's Board of Direc
July 21 2005 - 5:29PM
PR Newswire (US)
Pierre St-Arnaud Steps Down as SR Telecom's President and CEO - Mr.
St Arnaud will continue to serve on Company's Board of Directors
MONTREAL, July 21 /PRNewswire-FirstCall/ -- SR Telecom(TM) Inc.
(TSX: SRX; Nasdaq: SRXA) announced today that Pierre St-Arnaud has
resigned as the Company's President and Chief Executive Officer.
Mr. St-Arnaud will continue to sit on the Company's Board of
Directors. Mr. St-Arnaud joined SR Telecom in 2000 as President and
Chief Operating Officer and was appointed CEO in April 2001. Under
his leadership, SR Telecom broadened its product portfolio through
the acquisition of assets from Lucent Technologies and Netro
Corporation, launched new technology platforms giving access to new
and growing markets, and streamlined its manufacturing, R&D and
sales processes. "The initiatives guided by Mr. St-Arnaud have
played a crucial role in strengthening the company's
competitiveness and positioning it as the global leader in
WiMAX-ready, OFDM Broadband Wireless Access solutions. In fact,
Pierre's vision led to the acquisition and development of a series
of products that currently account for approximately two-thirds of
our revenues," said Lionel Hurtubise, Chairman of SR Telecom's
Board of Directors. "We are very pleased that Pierre will continue
to serve on the Board, and to contribute to the further development
of the Company." Mr. William Aziz, the Company's Chief
Restructuring Officer, will assume the CEO role on an interim
basis. About SR Telecom SR TELECOM (TSX: SRX, Nasdaq: SRXA)
designs, manufactures and deploys versatile, Broadband Fixed
Wireless Access solutions. For over two decades, carriers have used
SR Telecom's products to provide field-proven data and
carrier-class voice services to end-users in both urban and remote
areas around the globe. SR Telecom's products have helped to
connect millions of people throughout the world. A pioneer in the
industry, SR Telecom works closely with carriers to ensure that its
broadband wireless access solutions directly respond to evolving
customer needs. Its turnkey solutions include equipment, network
planning, project management, installation and maintenance. SR
Telecom is a principal member of WiMAX Forum, a cooperative
industry initiative which promotes the deployment of broadband
wireless access networks by using a global standard and certifying
interoperability of products and technologies. FORWARD-LOOKING
STATEMENTS Except for historical information provided herein, this
press release may contain information and statements of a
forward-looking nature concerning the future performance of the
Company. These statements are based on suppositions and
uncertainties as well as on management's best possible evaluation
of future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in
customer demand for the Company's products and services, the impact
of price pressures exerted by competitors, and general market
trends or economic changes. As a result, readers are advised that
actual results may differ from expected results. SR TELECOM is a
trademark of SR Telecom Inc. All rights reserved 2005. All other
trademarks are property of their owners. DATASOURCE: SR TELECOM
INC. CONTACT: David Adams, Senior Vice-President, Finance and CFO,
(514) 335-4035; Scott Lawrence, (Maison Brison), (514) 731-0000, ;
http://www.srtelecom.com/
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