28.06.2007 17:00:00
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ANTs Consolidates Executive Responsibilities with CEO Joseph Kozak
ANTs software inc. (OTCBB:ANTS), a leader in compatible,
high-performance SQL database management systems, announced that in a
series of planned personnel moves, Mr. Joseph Kozak has taken on sole
executive responsibility for ANTs; Mr. Francis Ruotolo has retired as
executive chairman and moves into the role of non-executive chairman of
the company’s board of directors; and Mr. John
R. Gaulding, currently a director, moves into the role of lead director.
The personnel changes provide Mr. Kozak with responsibility for all
aspects of the company’s strategy and
operations and establish a higher level of independence for the board of
directors.
"At ANTs, I have had the pleasure of working
with the most intelligent and dedicated employees in my 50 years of
management experience,” said Mr. Ruotolo. "The
ANTs Data Server and the ANTs Compatibility Server are exciting products
with the potential to put this company on the map. I am thoroughly
impressed and confident in Joe Kozak’s ability
to take ANTs to the next level. As I approach my 70th
birthday, I also look forward to a reduced workload while continuing to
contribute in my new role.” "Frank’s leadership
and vision have helped guide ANTs through challenging times and helped
build a strong foundation for growth,” said
Joseph Kozak, president and CEO. "On behalf
of the employees, fellow directors, and shareholders, I would like to
thank Frank for nearly seven years of dedicated service. I will continue
to enjoy working with him as chairman, and with John Gaulding as lead
director.”
Mr. Ruotolo’s retirement agreement precludes
him from being considered an "independent”
director. Following best practices in corporate board governance, Mr.
Gaulding, an independent director, was appointed lead director on June
26, 2007. In that role, he and Mr. Kozak will work closely to identify
strategic areas of opportunity and risk and set the agenda for board
activities.
ANTs software inc.
ANTs software inc. (OTCBB:ANTS), based in Silicon Valley, develops and
sells the ANTs Data Server, an affordable, high-performance relational
database that is compatible with popular databases. The company's
mission is to help customers reduce hardware, software, and development
costs by providing exceptional database price/performance. For more
information on ANTs Software, visit www.ants.com.
This press release is neither an offer to sell, nor a solicitation of
offer to purchase, securities.
This press release contains forward-looking statements within the
meaning of the federal securities laws, including statements concerning
changes in management. Such forward-looking statements are not
guarantees of future performance, are sometimes identified by words of
condition such as "should,” "may,” or "intends,”
and are subject to a number of risks and uncertainties, known and
unknown, that could cause actual results to differ materially from those
intended or anticipated. Such results include, without limitation: the
change in management may not translate into success for the Company, the
Company’s executives may not make good
decisions, the Board of directors for the Company may not make good
decisions, the Company may face problems securing the necessary
financing to continue operations, may face challenges recruiting
knowledgeable and experienced personnel, and may face potential problems
in protecting the Company’s intellectual
property, among many others. Further information concerning these and
other risks is included in the Company’s
filings with the Securities and Exchange Commission, including the
Company’s most recent Quarterly Report on
Form 10-Q for the fiscal quarter ended March 31, 2007. The Company
undertakes no obligation to update or revise such forward-looking
statements to reflect events or circumstances occurring after the date
of this press release.
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