Color Kinetics Elects William O'Brien to Board of Directors
28 11월 2005 - 10:00PM
PR Newswire (US)
Announces Additional Board Transition BOSTON, Nov. 28
/PRNewswire-FirstCall/ -- Color Kinetics Incorporated
(NASDAQ:CLRK), a leading innovator of intelligent solid-state
lighting systems and technologies, today announced several changes
to the composition of its board of directors. William O'Brien,
Executive Chairman of Enterasys Networks (NYSE:ETS), has been
elected to the company's board and audit committee. Additionally,
director Elisabeth Allison has been named Lead Independent
Director. Effective January 1, 2007, George Mueller will step down
as Chairman but remain a member of the company's board. "As Color
Kinetics evolves to reach widespread market opportunities for
intelligent solid-state lighting, we continually seek the strategic
guidance of our world-class board of directors, whose considerable
strengths range from business and finance to marketing and
technology innovation," said Bill Sims, President and CEO, Color
Kinetics. "We are very pleased to welcome Bill, whose leadership
and financial and operational expertise will perfectly complement
the board's composition." "It's an honor to join Color Kinetics'
board during this exciting stage of the company's growth, as the
impact of its technology continues to shape existing and future
lighting markets," said O'Brien. "I look forward to working
alongside the other talented directors to help position the company
for long-term success." Prior to joining Enterasys, which he led as
CEO for three years, O'Brien held several senior management
positions in the US and globally for PricewaterhouseCoopers, a
130,000-person financial services firm. In that capacity he advised
leading global clients on financial, business and accounting
matters, and managed a complex organization through the changes of
market globalization, dramatic growth in consulting services, and
increased financial regulatory issues. He previously spent more
than 20 years at Coopers & Lybrand, where he rose to the
position of COO, carrying full P & L responsibility for its
Business Assurance (audit), Tax, and Financial Advisory Services.
He later served as global managing partner and was instrumental as
transition leader for the merger of Coopers & Lybrand with
Price Waterhouse. He currently sits on the corporate boards of
Enterasys, Camp Dresser & McKee and MFS Investment. Allison is
a Senior Partner in ANZI Ltd., a transactional firm specializing in
acquisitions, strategic partnerships, joint ventures and licensing
agreements for the publishing and software industry. She has served
on Color Kinetics' board for four years, including membership on
its audit and nominating committees. She has also served on the
boards of three mutual funds of the Capital Research and Management
Corporation since 1991. Prior to joining ANZI, she was Senior Vice
President, Development at the McGraw-Hill Companies and Associate
Professor of Economics at Harvard. Mueller co-founded Color
Kinetics in 1997 and served as Chairman and CEO for eight years
before transitioning the latter role to Bill Sims, President and
CEO, in 2005. He contributed to more than 20 patents pertaining to
Color Kinetics' core technology, and was instrumental in fostering
the early adoption of intelligent solid-state lighting across a
number of emerging markets. "I will remain active as Chairman
throughout 2006, and as a director thereafter," said Mueller. "I am
confident that the company's growth and future direction lie in
exceptionally qualified hands. My role as an industry evangelist
will continue, as LED technology progresses ever closer to general
illumination and a host of new applications." About Color Kinetics
Color Kinetics Incorporated (NASDAQ:CLRK) is a leading innovator of
intelligent solid-state lighting -- enabling light without
limits(TM). The company's award-winning product lines apply the
benefits of LEDs to transform the way light is produced, controlled
and applied, advancing the adoption of cost- and energy-efficient
lighting worldwide. Its systems leverage a patented layer of
digital intelligence, called Chromacore(R), to generate and control
color and white light for use in high-performance lighting and OEM
and licensing applications. The company's investment in research
and development is reflected by its wide-ranging intellectual
property portfolio. Founded in 1997, the company is headquartered
in Boston, MA with offices in the UK, China, and Japan. More
information can be found at http://www.colorkinetics.com/. All
rights reserved. Chromacore, Color Kinetics, and the Color Kinetics
logo are registered trademarks and Light Without Limits is a
trademark of Color Kinetics Incorporated. All other trademarks
mentioned are the property of their respective owners. "Safe
Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding Color
Kinetics Incorporated's business that are not historical facts are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned
that these statements involve risks and uncertainties, are only
predictions and may differ materially from actual future events and
results. For a discussion of such risks and uncertainties, see
"Risk Factors" in the Company's Annual Report on Form 10-K for the
Twelve Months Ended December 31, 2004, File Number 000-50798, and
most recent 10-Q, each as filed with the Securities and Exchange
Commission. DATASOURCE: Color Kinetics Incorporated CONTACT:
Felicia Spagnoli, Media Relations, +1-617-701-2292, , or Justine
Alonzo, Investor Relations, +1-617-701-2272, , both of Color
Kinetics Incorporated Web site: http://www.colorkinetics.com/
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