SNY conn. wrt/sister co.ATCO
posted on
Aug 21, 2006 05:50AM
BUSINESS WIRE
SAN DIEGO--(BUSINESS WIRE)----American Technology Corporation (ATC) (Nasdaq:ATCO), a leader in commercial, government and military directed sound products and solutions, today announced that Thomas R. Brown has agreed to become the Company`s chief executive officer and president commencing September 5, 2006. Brown has served as an independent member of ATC`s board of directors since March 2006. In addition to assuming the vacant CEO position, Brown will replace outgoing president John Zavoli, who is leaving the Company.
Brown has over 30 years of executive level operational and financial management experience in industry leading companies, including more than 16 years in various senior positions with Sony Electronics. From February 1988 to December 1995, Brown served as senior vice president/divisional controller for Sony`s North American manufacturing operations. From December 1995 to April 2000, he served as its executive vice president and corporate controller and was an executive committee member. From April 2000 to September 2004, Brown was Sony`s executive vice president and deputy president of the North American manufacturing operations and, concurrently, president of the Information Technology division, manufacturer of Sony`s award-winning VAIO personal computer. Brown was also a senior manager of Price Waterhouse (now known as PriceWaterhouseCoopers).
Brown has served on other boards, including the San Diego Regional Development Corporation, American Glass Video Company and Qualcomm Personal Electronics. Brown is currently an independent member of ATC`s board of directors and a member of the board`s audit and compensation committees. Brown will resign from his committee appointments in connection with his appointment as CEO. Brown has a bachelor`s degree in economics from Rutgers University and is a certified public accountant. Brown has served as the president of BrownThompson, an executive search firm based in San Diego, but will give up the position upon commencing his positions with ATC.
``I am delighted to have Tom Brown, with the senior executive experience he gained at Sony, coming onboard to lead the operations and management of ATC,`` remarked Elwood G. Norris, founder and chairman of American Technology. ``In the five months he has served on our board, Tom has demonstrated keen insight into the challenges of growing sales and streamlining production. I am confident in his abilities to grow our company and the markets for our directed sound products. I look forward to spending more time on new technologies that we have innovated as Tom assumes executive management responsibilities.``
``ATC pioneered, commercialized and is the leader in directed sound products that are changing the way we experience sound in a broad range of commercial and consumer applications,`` commented Brown. ``Major government/military users and commercial distributors and retailers are recognizing the benefits of directed sound to inform and educate listeners without adding to the increasing noise pollution prevalent in today`s world. I am excited to apply my skills to continue our record of directed sound innovation and to rapidly grow our commercial and government/military sales.``
Brown concluded, ``Pioneering new markets, while challenging, offers significant rewards. I look forward to working with the ATC team to make HSS(R), LRAD(TM), NeoPlanar(R) and our other proprietary directed sound products increasingly successful in the international marketplace.``
The Company also reiterated its recent guidance of between $3 million and $4 million in revenues for the quarter ending September 30, 2006.