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Stanley Freimuth and Jeffrey Cook Elected to Presstek's Board of Directors
(Market Wire Via Acquire Media NewsEdge) GREENWICH, CT -- (MARKET WIRE) -- 11/04/09 --
Presstek, Inc. (NASDAQ: PRST), a leading
manufacturer and marketer of digital offset printing business solutions,
today announced that Stanley E. Freimuth and Jeffrey A. Cook have been
elected to Presstek's Board of Directors. Mr. Freimuth is a senior
executive with broad operating experience in both consumer and industrial
markets and has extensive Board experience in both corporate and
not-for-profit entities. Mr. Cook has 30 years of financial leadership
experience working with multinational corporations.
Mr. Freimuth spent nearly 25 years with Fujifilm USA Inc., where he ran its
Graphic Systems Division for 17 years. He then served in the roles of
Chief Operating Officer and Senior Executive Vice President and Chief
Administrative Officer, where he had responsibility for all Fujifilm USA
businesses and led the company's successful strategy to transition from an
analog to digital business model. Mr. Freimuth has served on a number of
corporate Boards and is a current or former member of the Board of Fujifilm
USA, Enovation Graphic Systems Inc. and Tracer Imaging. He also served as
Chairman of the Board of NPES, the association for suppliers to the
printing and publishing industry, and was Chairman of the Board for the
Graphic Arts Show Company. Mr. Freimuth is also active in the
not-for-profit area and serves on the Boards of the Westchester County
Association and Children's Hospital Foundation at Westchester Medical
Center. He is a member of the Board of the Smithsonian National Zoological
Park and the Advisory Board of New York University's School of Continuing
and Professional Studies Master of Arts program in Graphic Communications
Management and Technology.
Mr. Cook brings significant financial leadership to Presstek, which he
joined in February 2007 as Senior Vice President and Chief Financial
Officer. He was appointed Executive Vice President in February 2008.
Previously, Mr. Cook held financial leadership roles at various General
Electric businesses, Moore Inc., and Kodak Polychrome Graphics, a joint
venture between Kodak and Sun Chemical Corp., where he was Senior Vice
President and Chief Financial Officer.
"We are very pleased to welcome Stan and Jeff to our Board," said Presstek
President, Chief Executive Officer and Chairman of the Board, Jeffrey
Jacobson. "Stan brings a wealth of knowledge and industry experience to
Presstek's Board and will make a tremendous contribution toward shaping
Presstek's digital and international growth strategy. Jeff is a seasoned
financial executive who has already significantly contributed to making
Presstek a stronger company financially. His strategic leadership and
financial expertise will be invaluable at the Board level."
"Presstek is an innovative company with a highly accomplished management
team," said Freimuth. "I am excited to join Presstek's Board and look
forward to actively contributing to shaping the company's vision and
helping drive future growth."
The Company also announced that Frank D. Steenburgh has resigned from the
Board so that he can devote more time to new business activities that will
prevent him from dedicating the time necessary to fully perform his duties
as a member of the Board.
"On behalf of the entire Board of Directors and management team, I would
like to thank Frank for his service to our Board," said Jacobson. "Frank's
leadership and experience in the graphic arts industry have helped advance
Presstek's digital growth business and we will miss his vision and
guidance. We wish him all the best."
"As excited as I was to join the Presstek Board of Directors, I now
reluctantly step down as I will be focusing primarily on my full-time
responsibilities as the Chief Marketing Officer of ColorCentric Corp.,"
said Steenburgh. "I am excited about Presstek's future and I have told
Jeff and his team that I am always available to them."
About Presstek
Presstek, Inc. is the leading manufacturer and marketer of high tech
digital imaging solutions to the graphic arts and laser imaging markets.
Presstek's patented DI®, CTP and plate products provide a streamlined
workflow in a chemistry-free environment, thereby reducing printing cycle
time and lowering production costs. Presstek solutions are designed to make
it easier for printers to cost effectively meet increasing customer demand
for high-quality, shorter print runs and faster turnaround while providing
improved profit margins. Presstek subsidiary, Lasertel, Inc., manufactures
semiconductor laser diodes for Presstek's and external customers'
applications. For more information visit www.presstek.com, or call
603-595-7000 or email: info@presstek.com.
DI is a registered trademark of Presstek, Inc.
Contacts:
Investor Relations
Linda S. Lennox
Investor Relations Consultant
203-275-6292
Email Contact
Trade Relations
Brian Wolfenden
Director of Marketing Communications
603-594-8585, ext. 3435
Email Contact
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