EDEN PRAIRIE, Minn., Aug. 14 /PRNewswire-FirstCall/ -- NVE Corporation
(Nasdaq: NVEC) announced that James D. Hartman, Chairman of the Board of
Enpath Medical, Inc. (Nasdaq: NPTH), was elected to NVE's board of
directors at the NVE annual meeting of shareholders held today.
Hartman, 60, replaces NVE Founder James M. Daughton, Ph.D. on NVE's
board of directors. Daughton, 69, retired as an NVE director and officer
effective with the annual meeting today but remains a company employee.
Each of NVE's other incumbent directors was reelected to serve on the
board of directors until the company's 2007 annual meeting. Hartman is
expected to be elected to the company's audit committee by the board of
Hartman joined Enpath in 1991 and was Enpath's chief executive officer
from February 1996 until retiring from that position in January 2006.
Enpath is a medical products company engaged in designing, developing,
manufacturing, and marketing products and accessories for the cardiac
rhythm management, neuromodulation and interventional radiology markets as
well as manufacturing of medical devices and components for other medical
product companies on a contract basis. Prior to joining Enpath, Mr. Hartman
was Vice President- Finance for Viking Electric Supply, Inc., a distributor
of electrical supplies and tools.
"We are delighted to have Jim Hartman join our board," said NVE
President and Chief Executive Officer Daniel A. Baker, Ph.D. "He has a
wealth of business experience, particularly in the medical device industry.
Furthermore, his experience running a public company and his financial
expertise will help NVE continue to meet the highest standards for
NVE is a leader in the practical commercialization of spintronics, a
nanotechnology that many experts believe represents the next generation of
microelectronics. NVE licenses its MRAM intellectual property and sells
spintronic sensors and couplers to revolutionize data sensing and
Statements used in this press release that relate to future plans,
events, financial results or performance are forward-looking statements
that are subject to certain risks and uncertainties including, among
others, such factors as risks related to attracting and retain
highly-qualified employees, risks related to legal proceedings, as well as
the risk factors listed from time to time in our filings with the SEC,
including our Annual Report on Form 10-K and other reports filed with the
SOURCE NVE Corporation