Appointment
Arc International PLC
28 December 2001
ARC International Appoints Michael Gulett as Chief Executive Officer
Elstree, UK - 28 December 2001: ARC International plc (LSE:ARK), a leading
developer of user-customisable, high-performance 32-bit processor cores,
development tools, peripherals and other intellectual property (IP), announces
the appointment of Michael Gulett as Chief Executive Officer with effect from
27 December 2001.
Michael Gulett has over 25 years' experience in technology companies. From
1998 to 2001, he was President and Chief Operating Officer of Virata
Corporation, a leading supplier of DSL processors, which floated on the NASDAQ
in 1999. The company grew substantially during this period increasing annual
revenues from approximately $9m to in excess of $120m. Prior to that he was
President and Chief Executive Officer of Paradigm Technology, a supplier of
SRAM, which went public in 1995. He has also worked for VLSI Technology, NCR
Microelectronics and Intel and graduated with a bachelor degree in Electrical
Engineering from the University of Dayton in 1974.
John Stockton, interim Chief Executive Officer and formerly non-executive
Chairman of ARC International will leave the company and resign from the Board
on 31 January 2002.
Jan Tufvesson, Chairman of ARC International, said:
'We are delighted that Michael Gulett is joining ARC to lead the Company in
the next phase of its development. Michael's experience in the microprocessor
industry and of successful leadership of public companies will be a great
asset to us in exploiting the potential of our innovative technology. I am
confident that he will build on our established customer base and help drive
the Company forward to profitability.
'I wish to thank John Stockton for his contribution to ARC over the past two
years. His commitment to the success of the business in the face of
unprecedented market conditions is greatly appreciated by the Board.'
Mike Gulett, commenting upon his appointment, said:
'ARC has excellent technology and represents a unique opportunity. Although
market conditions have been difficult I am pleased to be joining ARC now.'
For further information, please contact:
Sue Pemberton Citigate Dewe Rogerson 020 7638 9571
About ARC International
ARC International plc is a leading developer of user-customisable,
high-performance 32-bit processor cores (including ARCtangentTM), development
tools, peripherals and other intellectual property (IP), enabling reduced time
to market for system-on-chip products.
ARC's 58 customers include Conexant Systems, Cypress Semiconductor, Fujitsu
Microelectronics, IBM, Infineon Technologies, QLogic, SanDisk and Sun
Microsystems. Products based on ARC's technology include digital still
cameras, set-top boxes, and network processors. MetaWare Incorporated, Precise
Software Technologies Inc., and VAutomation Inc. are wholly owned subsidiaries
of ARC International, providing software development tools, hardware and
software intellectual property and real-time operating systems for an
integrated approach to system-on-chip development. ARC's third-party partners
include Cadence, Flextronics, Intrinsix, Synopsys, TSMC, UMC, Wind River, and
Xilinx.
ARC International plc employs 230 people at its headquarters in Elstree,
England, and in research and development, sales, and marketing offices across
North America, Europe, and Israel. ARC International plc is listed on the
London Stock Exchange (LSE:ARK). The company's web site is at
www.arccores.com.
Statements made in this press release that are not historical facts include
forward-looking statements that involve risks and uncertainties. Important
factors that could cause actual results to differ from those indicated by such
forward-looking statements include, among others, market acceptance of the ARC
technology; fluctuations in and unpredictability of the Company's quarterly
results; general economic and business conditions; regulatory policies adopted
by governmental authorities; assumptions regarding the Company's future
business strategy; changes in technology; competition; ability to attract and
retain qualified personnel; risks associated with the Company's international
operations; and other uncertainties that are discussed in the 'Investment
Considerations' section of the Company's listing particulars dated 28
September 2000 filed with the United Kingdom Listing Authority and the
Registrar of Companies in England and Wales.
ARC International (UK) Ltd. and ARC Cores Inc., both of which are wholly owned
subsidiaries of ARC International plc, trade under the name of ARC Cores.
ARC Cores is a trademark of ARC International (UK) Limited.
All other brands or product names are the property of their respective
holders.