Wave Systems Appoints Silicon Valley Executives Lorraine Hariton and David Cote
LEE, MA -- (Marketwired) -- 03/10/14 -- Wave Systems Corp. (NASDAQ:
WAVX), a provider of enterprise security software, has named Lorraine
Hariton and David Cote to its Board of Directors. Ms. Hariton and Mr.
Cote each have over 25 years of technology industry experience,
having led successful technology firms as CEO. Their appointments
increase the size of Wave's Board to eight members.
Ms. Hariton recently completed a five-year post serving as Special
Representative for Commercial and Business Affairs at the U.S.
Department of State in Washington, DC. Her prior experience included
serving at the helm of venture capital technology companies, Apptera
and Beatnik. She previously spent 15 years in sales and marketing
leadership positions at IBM, followed by Network Computing Devices
(NCD), a publicly traded thin-client company.
Mr. Cote most recently led a four-year transformation of Symmetricom
Inc., a network, data center and government systems solutions
provider, before it was acquired by MicroSemi Corporation last year.
In his prior role as CEO of Packeteer, Inc., a pioneer in WAN
optimization, Mr. Cote achieved five years of record revenue and
earnings growth, before successfully merging with Blue Coat in 2008.
Wave Chairman John E. Bagalay, Jr. Ph.D., commented, "We're pleased
to welcome both Dave and Lorraine to the Board as we seek to refocus
our strategy in driving long-term growth and improved financial
performance. As head of two Silicon Valley firms, Lorraine brought
innovative products to market and successfully raised venture capital
financing. She brought her business acumen to the public sector,
launching highly successful global entrepreneurship programs while
serving in the State Department. We also welcome Dave Cote, an
accomplished high tech executive with a strong track record of
instilling operational excellence within high tech firms. Together,
the additions of Lorraine and Dave to the Wave Board are key elements
in putting Wave on a path towards sustainable growth."
Lorraine Hariton Career Highlights
As Special Representative for
Commercial and Business Affairs at the US Department of State, Ms.
Hariton was responsible for driving the department's outreach to the
global business community. She worked with US embassies around the
world, ensuring support for business was a priority. She created
numerous initiatives, including the Ambassador's Direct Line Program,
the Global Entrepreneurship Program and ran many conferences and
Ms. Hariton's diverse technology experience includes thin-client
computing, smart grid and street lighting controls, retail payment
systems, Internet audio solutions, speech applications and PBX's. She
served as the CEO of Beatnik where she repositioned the company as a
leader in audio solutions for cell phones. As President and CEO of
Apptera, a speech recognition company, she led its first product
Hariton is Chairman Emeritus of the Forum for Women Entrepreneurs and
Executives, served as Treasurer of the State of California Board of
Accountancy, and has served on various boards. Ms. Hariton earned an
MBA from Harvard Business School and a BS in Mathematical Sciences
from Stanford University.
David Cote Career Highlights
Mr. Cote recently served as CEO and
President of Symmetricom, Inc., where he led a multi-year
transformation including significant senior leadership additions and
a simplified functional structure. Under his leadership, Symmetricom
delivered record revenue and added new lines of business including
the ChipScale Atomic Clock. Symmetricom was sold to MicroSemi
Corporation last year.
As CEO of Packeteer for six years, he helped transform the WAN
optimization company by adding new technologies to the appliance.
During his tenure, he doubled the company's headcount and
successfully integrated two acquisitions.
He earlier served as an executive for IDT and for ZeitNet. He
previously worked for SynOptics and was a marketing and sales
executive at Apple Computer. He earned an MBA from California State
University and a B.S. from the University of California, Davis.
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device. Unlike other vendors who try to secure information
by adding layers of software for security, Wave leverages the
security capabilities built directly into endpoint computing
platforms themselves. Wave has been a foremost expert on this growing
trend, leading the way with first-to-market solutions and helping
shape standards through its work as a board member for the Trusted
Safe Harbor for Forward-Looking Statements
This press release may
contain forward-looking information within the meaning of the Private
Securities Litigation Reform Act of 1995 and Section 21E of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
including all statements that are not statements of historical fact
regarding the intent, belief or current expectations of the company,
its directors or its officers with respect to, among other things:
(i) the company's financing plans; (ii) trends affecting the
company's financial condition or results of operations; (iii) the
company's growth strategy and operating strategy; and (iv) the
declaration and payment of dividends. The words "may," "would,"
"will," "expect," "estimate," "anticipate," "believe," "intend" and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements as
a result of various factors. Wave assumes no duty to and does not
undertake to update forward-looking statements.
All brands are the property of their respective owners.
Wave Systems Corp.
David Collins, Eric Lentini
Press spacebar to pause and continue. Press esc to stop.