Two New Directors Appointed to Crossroads Systems' Board of Directors
AUSTIN, TX -- (Marketwired) -- 05/03/13 -- Crossroads Systems, Inc.
(NASDAQ: CRDS), a global provider of data archive solutions, today
announced the appointment of two new independent directors to its
Board of Directors.
On April 29, 2013, the Board of Directors of the Company elected
Richard K. Coleman, Jr. and Jeffrey E. Eberwein as directors of the
Company. Steven Ledger, Chairman of the Board of the Company, and
Joseph Hartnett, a director of the Company, have each notified the
Company that they will not be standing for re-election at the
Company's 2013 Annual Meeting of Stockholders. Mr. Eberwein will
become the Chairman of the Board once Mr. Ledger's term ends.
Mr. Coleman is a private investor and technological advisor. His
company, Rocky Mountain Venture Services (RMVS), has helped
technology companies plan and launch new business ventures and
restructuring initiatives since 1998. He has served in a variety of
senior operational roles, including CEO of Vroom Technologies, COO of
Metronet Communications, and President of US West Long Distance, and
has also held significant officer-level positions with Frontier
Communications, Centex Telemanagement, and Sprint Communications
culminating in his appointment to lead its Technology Management
Division. Mr. Coleman began his career as an Air Force
Telecommunications Officer managing Department of Defense R&D
projects. He has served as an Adjunct Professor for Regis
University's Graduate management program and is a guest lecturer for
Denver University, focusing on leadership and ethics.
Mr. Coleman has served on a number of private, public, and non-profit
boards and currently serves on the board of directors of NTS, Inc.,
Track Innovations Ltd., and Aetrium Incorporated. Mr. Coleman holds a
B.S. Degree from the United States Air Force Academy, an M.B.A. from
Golden Gate University, and is a graduate of the United States Air
Force Communications Systems Officer School.
Mr. Eberwein is the founder and CEO of Lone Star Value Investors,
LLC, an investment firm. Mr. Eberwein has 20 years of Wall Street
experience, including 16 years in investment management and four
years in investment banking. Prior to founding Lone Star, he se
as a portfolio manager for 11 years, most recently at Soros Fund
Management and prior to that at Viking Global Investors and
Cumberland Associates. Mr. Eberwein is Chairman of the Board of
Digirad Corporation and serves on the board of directors of The
Goldfield Corporation, NTS, Inc., On Track Innovations Ltd and
Aetrium Incorporated. He is the Treasurer and serves on the Executive
Committee of the Board of Hope for New York, a 501(c)(3) organization
dedicated to serving the poor in New York City. Mr. Eberwein earned
an MBA from The Wharton School, University of Pennsylvania and a BBA
with High Honors from The University of Texas at Austin.
About Crossroads Systems
Crossroads Systems, Inc. (NASDAQ: CRDS) is
a global provider of data archive solutions. Through the innovative
use of new technologies, Crossroads delivers customer-driven
solutions that enable proactive data security, advanced data
archiving, optimized performance and significant cost-savings.
Founded in 1996 and headquartered in Austin, TX, Crossroads holds
more than 100 patents and has been honored with numerous industry
awards for data archiving, storage and protection. Visit
Important Cautions Regarding Forward-Looking Statements
release includes forward-looking statements that relate to the
business and future events or future performance of Crossroads
Systems, Inc. and involve known and unknown risks, uncertainties and
other factors that may cause its actual results, levels of activity,
performance or achievements to differ materially from any future
results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Words such as, but not
limited to, "believe," "expect," "anticipate," "estimate," "intend,"
"plan," "targets," "likely," "will," "would," "could," and similar
expressions or phrases identify forward-looking statements.
Forward-looking statements include, but are not limited to,
statements about Crossroads Systems' ability to implement its
business strategy, including the transition from a hardware storage
company to a software solutions and services provider, its ability to
expand its distribution channels, its ability to maintain or broaden
relationships with existing distribution channels and strategic
alliances and develop new industry relationships, the performance of
third parties in its distribution channels and of its strategic
alliances, uncertainties relating to product development and
commercialization, the ability to obtain, maintain or protect patent
and other proprietary intellectual property rights, technological
change in its industry, market acceptance of its products and
services, future capital requirements, regulatory actions or delays,
competition in general and other factors that may cause actual
results to be materially different from those described herein.
Forward-looking statements in this press release are based on
management's beliefs and opinions at the time the statements are
made. Crossroads Systems does not intend, and undertakes no duty, to
update this information to reflect future events or circumstances.
Copyright2013 Crossroads Systems, Inc. Crossroads and Crossroads
Systems are registered trademarks of Crossroads Systems, Inc. All
trademarks are the property of their respective owners. All
specifications are subject to change without notice.
512.928.6897 or 800.643.7148
Zintel Public Relations
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