Delphi Appoints New Global Consumer Electronics General Director

Download image

    LAS VEGAS, Jan. 5 /PRNewswire/ -- Delphi announced today that effective
 January 1, 2007, Max Rogers assumed the position of general director of the
 Consumer Electronics business unit within Delphi's Product & Service
 Solutions division.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
     "Max brings a wealth of professional experience that spans various
 companies, industries and markets," said Francisco Ordonez, president,
 Delphi Products & Service Solutions. "He is results driven, which combined
 with his diverse knowledge base, makes him a natural for the fast moving
 world of consumer electronics."
     Max has been an executive within Delphi for five years, first as the
 Global Sales Director for the Thermal Division in Lockport, New York, and
 most recently as Global Director of Sales, Marketing and Planning for
 Delphi Packard Electrical/Electronic Architecture division in Troy,
 Michigan.
     Prior to Delphi, he worked for TRW as the lead for high-tech business
 development initiatives in web-based products and applications. There he
 also worked within the automotive business of LucasVarity, a company
 acquired by TRW, as a business manager for Mexico and Latin America then as
 a Product Line Director. Before joining LucasVarity he was a business
 manager for the Product Design Center, a design and engineering services
 firm which specialized in commercializing advanced technology products for
 aerospace, light industrial and consumer markets. Prior to all of this Max
 had a career as a pilot in the United States Navy where he was a graduate
 from the United States Naval Test Pilot School.
     "Max has the challenge in front of him to continue to build upon the
 legacy Delphi has established in the realm of consumer electronics," said
 Ordonez. "Delphi was the first to partner with XM in the portable satellite
 arena, and has continued to deliver innovative technology each year. We
 just introduced the SKYFi3, and the NAV200. At CES we will add to those
 products with more great news. The challenge ahead is to continue to lead
 in technology and product development that delivers what consumers want. I
 know Max's leadership will do just that and result in continued strong
 growth in consumer electronics at Delphi."
     For more information about Delphi and its subsidiaries, visit Delphi's
 media room at http://www.delphi.com/media.
     FORWARD-LOOKING STATEMENT
     This press release, as well as other statements made by Delphi, may
 contain forward-looking statements that reflect, when made, the company's
 current views with respect to current events and financial performance.
 Such forward-looking statements are and will be, as the case may be,
 subject to many risks, uncertainties and factors relating to the company's
 operations and business environment which may cause the actual results of
 the company to be materially different from any future results, express or
 implied, by such forward-looking statements. Factors that could cause
 actual results to differ materially from these forward-looking statements
 include, but are not limited to, the following: the ability of the company
 to continue as a going concern; the ability of the company to operate
 pursuant to the terms of the debtor-in- possession facility; the company's
 ability to obtain court approval with respect to motions in the chapter 11
 cases prosecuted by it from time to time; the ability of the company to
 develop, prosecute, confirm and consummate one or more plans of
 reorganization with respect to the Chapter 11 cases; the company's ability
 to satisfy the terms and conditions of the Equity Purchase and Commitment
 Agreement with its Plan Investors; the company's ability to satisfy the
 terms and conditions of the Plan Framework Support Agreement with GM and
 its Plan Investors (including the company's ability to achieve consensual
 agreements with GM and its U.S. labor unions on a timely basis that are
 acceptable to the Plan Investors in their sole discretion); risks
 associated with third parties seeking and obtaining court approval to
 terminate or shorten the exclusivity period for the company to propose and
 confirm one or more plans of reorganization, for the appointment of a
 chapter 11 trustee or to convert the cases to chapter 7 cases; the ability
 of the company to obtain and maintain normal terms with vendors and service
 providers; the company's ability to maintain contracts that are critical to
 its operations; the potential adverse impact of the Chapter 11 cases on the
 company's liquidity or results of operations; the ability of the company to
 fund and execute its business plan (including the transformation plan
 described in Item 1. Business "Potential Divestitures, Consolidations and
 Wind-Downs" of the Annual Report on Form 10-K for the year ended December
 31, 2005 filed with the SEC) and to do so in a timely manner; the ability
 of the company to attract, motivate and/or retain key executives and
 associates; the ability of the company to avoid or continue to operate
 during a strike, or partial work stoppage or slow down by any of its
 unionized employees; and the ability of the company to attract and retain
 customers. Other risk factors are listed from time to time in the company's
 United States Securities and Exchange Commission reports, including, but
 not limited to the Annual Report on Form 10-K for the year ended December
 31, 2005. Delphi disclaims any intention or obligation to update or revise
 any forward-looking statements, whether as a result of new information,
 future events and/or otherwise.
     Similarly, these and other factors, including the terms of any
 reorganization plan ultimately confirmed, can affect the value of the
 company's various pre-petition liabilities, common stock and/or other
 equity securities. Additionally, no assurance can be given as to what
 values, if any, will be ascribed in the bankruptcy proceedings to each of
 these constituencies. A plan of reorganization could result in holders of
 Delphi's common stock receiving no distribution on account of their
 interests and cancellation of their interests. Under certain conditions
 specified in the Bankruptcy Code, a plan of reorganization may be confirmed
 notwithstanding its rejection by an impaired class of creditors or equity
 holders and notwithstanding the fact that equity holders do not receive or
 retain property on account of their equity interests under the plan. In
 light of the foregoing and as stated in its October 8, 2005, press release
 announcing the filing of its Chapter 11 reorganization cases, the company
 considers the value of the common stock to be highly speculative and
 cautions equity holders that the stock may ultimately be determined to have
 no value. Accordingly, the company urges that appropriate caution be
 exercised with respect to existing and future investments in Delphi's
 common stock or other equity interests or any claims relating to
 pre-petition liabilities.
 
 

SOURCE Delphi