Attached files
| file | filename |
|---|---|
| 8-K - SEACHANGE INTERNATIONAL INC | v205705_8k.htm |
| EX-10.1 - SEACHANGE INTERNATIONAL INC | v205705_ex10-1.htm |
Exhibit
99.1
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Contact:
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Jim
Sheehan
|
Martha
Schaefer
|
|
SeaChange
PR
|
SeaChange
IR
|
|
|
1-978-897-0100
x3064
|
1-978-897-0100
x3030
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|
jim.sheehan@schange.com
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martha.schaefer@schange.com
|
SEACHANGE
INTERNATIONAL APPOINTS PETER A. FELD
TO
ITS BOARD OF DIRECTORS
Board
Forms Independent Advisory Committee
ACTON,
Mass. (Dec. 16, 2010) – SeaChange International, Inc. (NASDAQ: SEAC), the
leading global multi-screen video software company, today announced the
appointment of Peter A. Feld to its Board of Directors. Mr. Feld, a
Managing Director of Ramius LLC and a Portfolio Manager of the Ramius Value
& Opportunity Fund (“Ramius”), replaces ReiJane Huai as a director, whose
resignation was accepted by the Board and announced by SeaChange on Nov.
16. Ramius currently owns approximately 8.4% of the outstanding
shares of SeaChange.
Mr. Feld
was also appointed Chairman of the newly-created Independent Advisory Committee
of SeaChange’s Board (the “Committee”). The Committee will be made up
of four independent directors including Mr. Feld, Thomas Olson, Raghu Rau, and
Carmine Vona. The Committee will work with management and the Board
to advise and support them in a broad range of business development and other
initiatives.
Mr. Feld
joins SeaChange’s Board as a Class III Director to be elected for a three-year
term at the 2011 Annual Meeting. Separately, Carmine Vona, Lead
Director of SeaChange’s Board, has moved to Class I and will be elected for a
three-year term at the 2012 Annual Meeting.
“SeaChange
is pleased to further strengthen its Board of Directors with the appointment of
Peter Feld,” said Bill Styslinger, SeaChange CEO & Chairman. “We
look forward to working with Peter, the other directors, and our employees
towards a common goal of delivering best-in-class products and services to our
customers and creating value for our shareholders. We remain
committed to driving improved profitability during fiscal 2012 across all of our
businesses.”
“I am pleased to join the Board of
SeaChange and look forward to working with my fellow directors to realize the
full potential of SeaChange’s valuable businesses. SeaChange has a
leading customer base and a strong technology platform both of which are key
components for the future success of the Company. As a representative
of one of the Company’s largest shareholders, I will work to ensure that the
best interests of shareholders are represented on the board,” said Mr.
Feld.
(more)
SeaChange
BOD Welcomes Feld/Page 2
Mr.
Peter A. Feld (Age 31)
Mr. Feld
is a Managing Director of Ramius LLC and a Portfolio Manager of the Ramius Value
& Opportunity Fund, a position he has held since November
2008. Prior to becoming a Managing Director, Mr. Feld served as a
Director at Ramius LLC from February 2007 to November 2008. Mr. Feld
joined Ramius LLC as an Associate in February 2005. From June 2001 to
July 2004, Mr. Feld was an investment banking analyst at Banc of America
Securities, LLC, the investment banking arm of Bank of America Corporation, a
bank and financial holding company. Mr. Feld previously served on the
Board of Directors of CPI Corp. (NYSE: CPY), a leading portrait studio operator
in North America.
About
SeaChange International
SeaChange International (NASDAQ: SEAC)
is the global leader in multi-screen video and one of the largest software
companies worldwide. The Company provides innovative, Emmy
award-winning solutions and services for back office, advertising, content,
in-home devices and broadcast to hundreds of media companies, including blue
chip companies such as Comcast, Virgin Media, AT&T, Hutchison Whampoa,
Vodacom and DISH Network. Headquartered in Acton, Massachusetts,
SeaChange has product development, support and sales offices around the world.
Visit www.schange.com
###