i-data international's Chief Operating Officer Resign3 Jul, 2001
i-data international's Chief Operating Officer Resign
The i-data group's over all management structure has been changed in the recent months, and operational functions are now handled by the group's business units. Because of this, Chief Operating Officer Claus Christensen's area of responsibility has been cut. Before the changes, Claus Christensen had operational responsibility for i-data's LASAT Networks business unit and for the group's operational activities, including purchasing and manufacturing.
Based on a mutual agreement with the board of directors, Claus Christensen has resigned to his position with i-data international. However, Mr. Christensen will complete his assignments for the group over the next few months, particularly the completion of the shutdown of the activities in Nibe.
Following the change, i-data international’s board of management consists of: Chief Executive Officer, Nick Jensen and Chief Financial Officer, Henrik Bjergegaard.
Claus Christensen founded LASAT Networks in Nibe in 1982. He played a central role in the merger with i-data international in 1999, in the development of the Secure Internet Connectivity business area, in the acquisition of Eicon Technology Corporation in 2000, and recently in the merger between Eicon Technology and LASAT Networks to create Eicon Networks - a global, leading vendor of products and solutions for Internet connectivity and security.
N. E. Nielsen, Chairman of the Board of i-data international a-s stated, “The integration in Eicon Networks has been completed. i-data international wishes to thank Claus Christensen for his significant efforts in connection with this.” Nick Jensen, CEO of i-data international, added, “On a personal level, I'd like to also thank Claus for his efforts in the management group over the last two significant years for i-data international.”
In other I-data News: i-data international has also reported that they have sold part of its Vitesse shares. 900,000 shares of Vitesse Semiconductor Corporation, which has given the company net proceeds of approximately DKK 173 million. The Vitesse shares have been sold at an average of USD 22.19 per share.
The realized pre-tax profit from the sale is approximately DKK 171 million. The proceeds are not expected to require tax payments due to the company's carried forward tax losses. The proceeds from the sale will be used to strengthen i-data's balance sheet.
In addition, i-data international a-s has also announced that the sale of Exbit Technology A/S to Vitesse Semiconductor Corporation had been completed, and that i-data had received approx. 2.1 million Vitesse shares. Following the partial sale of the first part of the received shares, i-data now owns approximately 1.2 million Vitesse shares. If certain revenue goals in Exbit are achieved, i-data will additionally receive up to approx. 1.16 million Vitesse shares.
i-data international a-s · www.i-datac.com