|NEWS Appoints New Director, an Accomplished Executive with M&A Experience |
Hayward, California - July 15, 2013, Valdor Technology International Inc. ("Valdor") (TSX-V: VTI) is pleased to announce that Mr. Raj Kapany has been appointed to the Board of Directors.
Mr. Kapany received a Bachelor of Science (BS) from the University of California - San Diego in 1979, a Master of Business Administration (MBA) from the University of California - Berkley in 1981, and has attended the Stanford University Executive MBA Program. Mr. Kapany, an entrepreneur, is currently on the Boards of seven private technology companies. He currently resides in Los Altos, California. Since 1981 he has served as General Manager, Director, Vice-President, President, CEO or Chairman of eight private and public technology companies. In the technology field his specialization is fiber optics. Mr. Kapany has held executive positions with Tyco International Ltd, Amp Inc, K2 Optronics Inc, Emcore Corp and Nest Corp. From 1988 to present, he has been instrumental in the completion of eleven mergers and acquisitions (M&A's) involving technology companies and company divisions. Nine of these eleven M&A's have occurred since 1999. Acquiring and vended companies and/or divisions, where he has facilitated M&A activity, include: Tyco, Emcore, Nest, JDS Uniphase Corp, Ericsson Inc, Volex Inc, and Crown Life Insurance Co.
In 1994 Mr. Kapany started Tyco's fiber optics division in Europe, where he generated gross sales to over $40,000,000 annualized, in less than two years. In 1998, while Divisional Manager at Amp, he won the annual company award for having the most profitable division in the company. At that time Amp had more than 50 divisions. In 2000, as CEO and Chairman, he headed a team that raised $45,000,000 in venture capital for K2 Optronics and then facilitated the sale of K2 Optronics to Emcore. In 2008, while President of Nest, he directed a team that was responsible for having their patch panels qualified for use by Verizon Communications Inc.
Mr. Elston Johnston, Chairman, states: "Raj's marketing knowledge and corporate experience will be of great value to our sales and business growth. His M&A experience and high-tech business contacts can help us grow via mergers and acquisitions." Mr. Kapany states: "I see a way forward where the result can be greater than the sum of the individual parts. We can mesh our people and core competencies with global industries and focus on regions where fiber optics infrastructure is needed and where we have solutions that differentiate Valdor within the global marketplace; I see great upside potential in deploying this strategy. By adding new products and competencies and aligning them to high growth industries, we can strategically increase shareholder value in a very efficient manner."
Mr. Rick Pogue has resigned to accept a managerial position with an international financial planner. The Valdor Board thanks Mr. Pogue for his many contributions during the past years and wishes him well with his future endeavors. Mr. Mark Gustavson has resigned to accept an executive position with a biotech company. He will continue to act as a consultant to Valdor.
Symbols: VTI.V / VTIFF.OTC