Innovative Card Technologies, Developers of the InCard DisplayCardAuthentication Device, Has Appointed Technology and Business Leader JoeZelayeta as Independent Director.
Oct. 19, 2009 (Business Wire) -- Innovative Card Technologies, Inc (OTCBB:INVC), developers of the InCard DisplayCardTM for e-banking, e-commerce, and data access, today announced that Joe Zelayeta will serve as an independent director on the company’s Board of Directors.
“As the number of online financial transactions continues to grow, security for those transactions is becoming increasingly important. InCard, with its creative authentication solutions, has the opportunity to be a major player in the field,” said Joe Zelayeta. “I look forward to drawing upon my technology and manufacturing business background, in collaboration with the InCard team, to capture that significant market opportunity with cost effective, innovative solutions.”
Joe Zelayeta has been a leader in managing and commercializing new technologies throughout his distinguished 40-plus year career. From 1981 to 2006, he provided technical expertise and executive leadership as part of the team that helped grow LSI Logic Corporation from a Milpitas, CA-based start-up to a multibillion-dollar organization. Zelayeta’s contributions to LSI Logic Corporation include manufacturing, research and development, and ASIC technology oversight, as well as responsibility for worldwide operations. Zelayeta was a member of the Board of Directors of the Semiconductor Research Corporation (SRC) representing LSI Logic as well as a member of the Technology Strategy Committee of the Semiconductor Industry Association (SIA). Since his retirement in 2006, he advises a variety of technology start ups, including significant merger and acquisition endeavors. Zelayeta has a BS in Chemistry from the University of Nevada.
I feel fortunate that our company will be able to draw upon Mr. Zelayeta’s experience as a senior, highly respected executive to help InCard both increase its market dominance and drive exponential growth in the authentication card market. His presence on our board is further validation of our business model and our strategic objectives. The company’s management staff and board of directors are very pleased that he accepted our invitation to join InCard,” said Rich Nathan, President, CEO, and Director of InCard Technologies.
The arrival of Joe Zelayeta brings the number of InCard Technologies’ board members to six. He will be serving alongside Chairman Dr. Donald Joyce; President, CEO, and Director Richard Nathan; and Directors Scott V. Ogilvie; W. Robert Ramsdell; and Harry L. Tredennick, III.
About Innovative Card Technologies
Innovative Card Technologies, Inc. (OTCBB:INVC) was founded in 1993 to add advanced features to payment cards. The company’s DisplayCard enables dual-factor authentication in a convenient credit card form-factor. The cards can be configured to offer RFID physical access or payment capabilities, and feature a screen powered by an embedded integrated circuit, battery, and switch. This screen displays a one-time password to verify the presence of the card during online and data systems login. www.incard.com.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements included in this document are based upon information available to InCard as of the date hereof, and InCard has not assumed any duty to update these forward-looking statements to reflect events or circumstances after the date of this document. A discussion of various factors that could cause InCard’s actual results to differ materially from those expressed in such forward-looking statements is included in InCard’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10K, dated May 15, 2009.
