San Jose, CA - April 05, 2004 - The board of directors of CEVA,
Inc. (NASDAQ: CEVA; LSE: CVA), the leading licensor of Digital Signal
Processor (DSP) cores and communications solutions to the semiconductor
industry, announced today the strengthening of its board of directors with
the appointment of an independent non-executive director, and the
appointment of three industry veterans to a newly established executive
Effectively immediately, Mr. Dan Tocatly joins CEVA as independent
non-executive director. Mr Tocatly brings a wealth of investment banking
and technology experience to CEVA. Also announced today, Chet Silvestri,
president and CEO of CEVA, has been appointed chairman of the board of
Separately, CEVA announced the formation of an Executive Advisory
Board, and has appointed semiconductor industry veterans Raj Parekh, Barry
Cox and Carl Schlachte as its first members.
"I am very pleased that we have attracted such well-respected and
recognized business and technology leaders, who will be instrumental in
advising CEVA as we seek to expand our position as the leading licensor of
DSP technologies," said Chet Silvestri, chairman and CEO of CEVA. "The
appointment of Dan Tocatly to our board, and Raj Parekh, Barry Cox and
Carl Schlachte to our executive advisory board, brings a new level of
financial and semiconductor industry experience to CEVA."
CEVA Appoints Dan Tocatly as Independent Non-Executive
Dan Tocatly joins CEVA as independent non-executive director and brings
a wealth of experience in technology and investment banking to CEVA. Mr
Tocatly is co-founder and managing partner of the Magnum Group, one of
Europe's largest technology venture capital firms, and he sits on the
boards of a number of technology companies. Mr. Tocatly has served as
senior managing director at Paine Webber, and previously held a number of
senior management positions at Salomon Brothers. Mr. Tocatly holds a BS in
business administration from the University of Southern California, from
which he graduated summa cum laude.
CEVA Appoints Raj Parekh, Barry Cox and Carl Schlachte to
Executive Advisory Board
Before founding Redwood Venture Partners as chairman and executive
managing director, Raj Parekh served at Sun Microsystems as chief
technology officer and vice president of engineering, as well as VP and
general manager of Java Products for Sun Microsystems. Before joining Sun,
he was co-founder, vice president and general manger of Silicon Graphics.
In his career, Mr. Parekh has managed more than 100 chip developments
across a breadth of technologies and markets. He has also served on the
boards of directors and as chairman of more than 15 high-tech companies.
Mr. Parekh holds several U.S. patents, and has achieved many awards for
his vision and leadership. Mr. Parekh received a BE/BS in electrical
engineering from the L.D. College of Engineering, India, and a masters of
electrical engineering from the Polytechnic Institute of New York.
Barry Cox has more than thirty years of experience in the semiconductor
industry. Currently Mr. Cox is chairman of Noya Measurements Instruments,
a publicly traded semiconductor capital equipment company. Previously Mr.
Cox served as chairman of Quantum Effect Devices prior to its acquisition
by PMC Sierra in 2000, and before Quantum, he was president and CEO of
publicly traded Weitek Corporation, a leading fabless semiconductor
company. Mr. Cox was co-founder and director of ATEQ Corporation, which
was subsequently merged with ETEC Systems, prior to its Initial Public
Offering. Mr. Cox spent eight years with Intel Corporation, where he
served as President of Intel Europe, and six years at Texas Instruments.
Mr. Cox holds a BS degree in engineering from the US Air Force Academy and
an MBA from Boston University.
Carl Schlachte has more than twenty years experience in the
semiconductor IP and microprocessor industries. Mr Schlachte was recently
appointed CEO of ARC International, a leader in customizable processors.
Prior to ARC, he was president and CEO of Raza Microelectronics.
Previously, Mr. Schlachte served as chairman and CEO of BOPS Inc., a
semiconductor IP company focused on the development of high-performance
DSP technologies. Mr Schlachte has served as vice president of North
America for ARM Holdings plc and has held various senior management
positions in Motorola's Semiconductor Products business. Mr. Schlachte
holds a BS degree in computer science from Clemson University.
About CEVA, Inc.
Headquartered in San Jose, Calif., CEVA is the leading licensor of digital signal processor (DSP) cores, multimedia, GPS and storage platforms to the semiconductor industry. CEVA licenses a family of programmable DSP cores, associated SoC system platforms and a portfolio of application platforms including multimedia, audio, Voice over Packet (VoP), GPS location, Bluetooth, Serial Attached SCSI and Serial ATA (SATA). In 2005 CEVA's IP was shipped in over 115 million devices. CEVA was created through the merger of the DSP licensing division of DSP Group and Parthus Technologies. For more information, visit www.ceva-dsp.com.
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