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Daktronics, Inc. Announces Management Succession

BROOKINGS, S.D., Feb. 25, 2013 (GLOBE NEWSWIRE) -- The Daktronics, Inc. (Nasdaq:DAKT) Board of Directors announced today that Jim Morgan, current President and Chief Executive Officer, will retire by the end of calendar year 2013. The board has named Reece Kurtenbach, current Executive Vice President, to succeed him.

Morgan has served as President and CEO since 2001. During his tenure as CEO, the company has more than tripled its revenues, expanded into new businesses and new geographies world-wide, and has established a strong leadership position in its industry. Previously, Morgan served as President and as Vice President for Engineering. Morgan has been with the company since 1969, its first year of operation. The Board expressed its appreciation for Morgan's service and leadership to the company.

"I am very proud of Daktronics growth and success, and honored to have been a part of it. I have high confidence that the Daktronics leadership team and employees will continue to drive Daktronics toward increasing successes in the future," Morgan said. 

The Board named Reece Kurtenbach to succeed Morgan as President and Chief Executive Officer upon Morgan's retirement. "Reece is well-qualified to be the company's next President and Chief Executive Officer, based on his demonstrated capability in business unit and product development leadership," Morgan added. 

Kurtenbach is currently serving as an Executive Vice President and is responsible for the Live Events and International business units. The Live Events business unit serves customers in professional and minor league sports, in colleges and universities, and in entertainment. The International business unit serves customers worldwide, with its most current activities in Asia Pacific, Europe, the Middle East, and Latin America. Kurtenbach also provides corporate leadership for the company's product development. Kurtenbach worked at the company as a student employee and then rejoined the Company in 1991 as an applications engineer focusing on large display projects. In 1994, he became the manager of the Company's video products engineering group, in 2004 he was named Vice President, and in 2012 he was named Executive Vice President. Kurtenbach graduated from South Dakota State University in 1987 with a Bachelor's of Science degree in electrical engineering, and joined the company full-time in 1991.

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