AUSTIN, Texas, June 1 /PRNewswire-FirstCall/ -- Nano-Proprietary, Inc.
(OTC Bulletin Board: NNPP), today announced that R.D. (Dan) Burck has
agreed to join the Company as Chief Executive Officer, effective June 1,
2006. Burck, an Austin, Texas native and former Chancellor of The
University of Texas System, will also become a member of the Company's
Board of Directors. Marc Eller, the departing CEO, will continue to be
involved for a transition period and will remain on the Board of Directors.
The search for a new CEO was completed by Christian & Timbers, a premier
performance-based executive search firm.
Mr. Burck retired as Chancellor of The University of Texas System in
July 2002, and continued to serve as a special advisor to the System until
September 2005. He joined the management team of the U.T. System in 1988
after a successful 33-year career in the private sector. He served as vice
chancellor of business affairs and then as executive vice chancellor for
business affairs before being appointed by the Board of Regents as interim
Chancellor in June 2000 and Chancellor six months later, in December 2000.
Under his leadership the U.T. System was the first public higher education
system in the nation to receive a Triple-A bond rating from all three of
the major rating agencies. As Chancellor, he was the chief executive
officer of one of the nation's largest higher education organizations.
Until May 2006, Burck also served as an advisory director for the
University of Texas Investment Management Company, the funds and
investments management organization for the U.T. System. The U.T. System, a
$31 billion enterprise with more than $19.7 billion in investment assets,
has nine general academic universities and six health science institutions.
Mr. Burck is currently the independent Chairman of the Board of
American Campus Communities, Inc., a NYSE listed company and also serves on
the Board of several private companies and organizations.
"It has never been my goal to be CEO of the Company for an indefinite
period," said Marc Eller, departing CEO of the Company. "I wanted to be
certain that the Company had reached a certain level of stability before
moving on to pursue other interests and we have reached that point. We are
very excited to have an experienced executive like Dan Burck who brings the
depth and knowledge required to take the Company to the next level. I very
much look forward to working with him."
During his career in the private sector, Burck served in numerous
executive positions requiring strong management and leadership skills and
was involved in many start-up organizations. He worked worldwide for Getty
Oil Co., headquartered in Los Angeles, for 29 years, from 1955 to 1984.
After serving in a series of management positions in the areas of oil and
gas, Burck was placed in charge of the company's diversified operations in
1974. In this role, he was responsible for managing the company's worldwide
holdings, which included 13 subsidiary companies in fields as diverse as
real estate, agriculture, television, forest products, and construction. As
part of this job, he was involved, in 1979, in the creation and early
operation of ESPN, the first cable TV sports network. He was vice president
and a director of ESPN.
From 1984 to 1988, Burck was retained by Block Watne, a Norwegian
company involved in the construction business, to organize and manage a
start-up subsidiary company in the United States. During this period, he
served as president and director of a subsidiary -- Block Watne Texas, Inc.
"This is an exciting opportunity for me and I am honored that the Board
of Directors of Nano-Proprietary has asked me to both join the Board and
become CEO," said Burck. "I am looking forward to continuing the excellent
work of Marc Eller, working with the rest of the Board, and leading the
company to broader opportunities and success in the marketplace. The fact
that Nano- Proprietary is as well positioned as it is today is testament to
the solid foundation that has been built by Marc and the Board, and I am
eager to build on that legacy."
Nano-Proprietary, Inc. will schedule a conference call in June to
introduce Mr. Burck and provide a corporate update along with other
Safe Harbor Statement
This press release contains forward-looking statements that involve
risks and uncertainties concerning Nano-Proprietary's business, products,
and financial results. Actual results may differ materially from the
results predicted. More information about potential risk factors that could
affect our business, products, and financial results are included in
Nano-Proprietary's annual report on Form 10-K for the fiscal year ended
December 31, 2005, and in reports subsequently filed by Nano-Proprietary
with the Securities and Exchange Commission ("SEC"). All documents are
available through the SEC's Electronic Data Gathering Analysis and
Retrieval System (EDGAR) at http://www.sec.gov or from Nano-Proprietary's
web site listed below. Nano- Proprietary hereby disclaims any obligation to
publicly update the information provided above, including forward-looking
statements, to reflect subsequent events or circumstances.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two
wholly-owned operating subsidiaries. Applied Nanotech Inc. is a premier
research and commercialization organization dedicated to developing
applications for nanotechnology with extremely strong positions in the
fields of electron emission applications from carbon film/nanotubes,
sensors, functionalized nanomaterials, and nanoelectronics. Electronic
Billboard Technology, Inc. (EBT) possesses technology related to electronic
digitized sign technology. The Companies have over 200 patents or patents
pending. Nano-Proprietary's website is http://www.nano-proprietary.com .
ABOUT CHRISTIAN AND TIMBERS
Since 1980, Christian & Timbers has been the performance-driven
executive search firm serving Fortune 1000, NASDAQ, and pioneering venture
backed companies. With expertise in technology, financial services, life
sciences, media/entertainment, professional services, consumer/retail,
industrial/manufacturing, and demonstrated success in Board Services, and
serving Private Equity and Venture Capital clients, Christian & Timbers
delivers exceptional results. Christian & Timbers has world headquarters in
New York, NY and offices in Boston, MA, Cleveland, OH, Columbia, MD,
London, UK, Menlo Park, CA, Paris, France and Washington, DC. For
additional information on Christian & Timbers, visit http://www.ctnet.com .
COMPANY CONTACT MEDIA CONTACT
Doug Baker William J. Spina
Chief Financial Officer 781.383.0369
Nano-Proprietary, Inc. firstname.lastname@example.org
SOURCE Nano-Proprietary, Inc.