SmarTire Announces Resignation of Kozak as Director
to Increase Independence of Board
Kozak to Continue as President and CEO of SmarTire
9/2/2005 4:05:28 PM
RICHMOND, Canada, Sept 02, 2005 /PRNewswire-FirstCall via COMTEX/ -- SmarTire Systems Inc. (SMTR) announced today that President and CEO Al Kozak has voluntarily resigned as a director to increase the independence of the board. The resignation has no impact on the duties of Kozak as President and CEO.
Robert Rudman, non-executive chairman of SmarTire's board, said, "Our objective is to move toward the creation of a totally non-executive, independent board in keeping with the spirit of Sarbanes-Oxley. We are now at a stage to expand the depth and experience of the board of directors."
About SmarTire Systems Inc.
SmarTire develops and markets proprietary advanced tire pressure monitoring and technology systems for the global automotive and transportation industries. The U.S. government, through the TREAD Act, has legislated that all new passenger vehicles must be equipped with tire monitoring systems beginning with a phased implementation in 2004. SmarTire is capitalizing on the rapidly emerging OEM and aftermarket opportunities. The company's vision is to become the preeminent provider of wireless sensing and control systems for vehicles worldwide. Incorporated in 1987, SmarTire has offices in North America and Europe.
A comprehensive investment profile regarding SmarTire Systems Inc. may be found at hawkassociates.com.
Additional information about SmarTire Systems can be found at smartire.com . An online investor relations kit containing SmarTire press releases, SEC filings, current price Level II quotes, interactive Java, stock charts and other useful information for investors can be found at hawkassociates.com and americanmicrocaps.com . Investors may contact Frank Hawkins or Julie Marshall of Hawk Associates at (305) 451-1888, e-mail: info@hawkassociates.com .
SOURCE SmarTire Systems, Inc.
Frank Hawkins or Julie Marshall, both of Hawk Associates, +1-305-451-1888, or
info@hawkassociates.com, for SmarTire
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