TORONTO, ON --(Marketwired - February 05, 2015) - ViXS Systems Inc. (the "Company") (TSX: VXS) announced today that Sally Daub has stepped down as the Company's President and Chief Executive Officer, effective immediately. Hugh Chow, the Company's Chief Operating Officer, has been appointed as interim President and Chief Executive Officer.
"The Board wants to thank Sally for her numerous contributions to ViXS since founding the Company in 2001 and wishes her well in her future endeavors," said Peter Currie Chairman of ViXS Board of Directors. "Further, the Board has full confidence in the ViXS team."
The Board has commenced a search to identify a new Chief Executive Officer.
About ViXS Systems Inc. ViXS is the pioneer and market leader in designing revolutionary media processing semiconductor solutions for video over IP streaming solutions, with over 503 patents issued and pending worldwide, numerous industry awards for innovation and over 30 million media processors shipped to date. ViXS is driving the transition to Ultra HD 4K across the entire content value chain by providing professional and consumer grade chipsets that support the new High Efficiency Video Coding (HEVC) standard up to Main 12 Profile, reducing bandwidth consumption by 50% while providing the depth of color and image clarity needed to take advantage of higher-resolution content. ViXS' XCodePro 300 family is ideal for Ultra HD 4K infrastructure equipment, and the XCode 6000 family of system-on-chip (SoC) products achieve unprecedented levels of integration that enable manufacturers to create cost-effective consumer entertainment devices.
ViXS is headquartered in Toronto, Canada with offices in Europe, Asia and North America. VIXS™, the ViXS® logo, XCode®, XCodePro™, XConnex™ and Xtensiv™ are trademarks and/or registered trademarks of ViXS. Other trademarks are the property of their respective owners. For more information on ViXS, visit our website: www.vixs.com.
Forward-Looking Statements Statements in this press release that are not historical facts constitute "forward-looking statements" within the meaning of applicable securities laws. Such statements include, but are not limited to, statements regarding ViXS' projected revenues, gross margins, earnings, growth rates, the impact of new product design wins, market penetration and product plans. The use of terms such as "may," "anticipated," "expected," "projected," "targeting," "estimate," "intend" and similar terms are intended to assist in identification of these forward-looking statements. Readers are cautioned not to place undue reliance upon any such forward-looking statements. Such forward-looking statements are not promises or guarantees of future performance and involve both known and unknown risks and uncertainties that may cause ViXS' actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
For further information, please contact:
Charlie Glavin ViXS Systems Inc. T: +1 416 646-2000 firstname.lastname@example.org Nicole Marchand Investor Relations ViXS Systems Inc. T: 1 416 646-2000 ext. 3 Ir@vixs.com