SAN JOSE, Calif., June 29, 2010 (GLOBE NEWSWIRE) -- OCZ Technology Group, Inc. (Nasdaq:OCZ), a leading provider of high-performance solid-state drives (SSDs) and memory modules for computing devices and systems, announces that Richard Singh has been appointed the Company's new Senior Vice President of Sales, overseeing global sales and business development of the complete line of OCZ channel and enterprise solutions. Mr. Singh previously served as the Senior VP of Sales during the company's rapid expansion in 2005 to 2007 when the company had 80% CAGR and first went public in London. Thus, while he is quite accustomed to a high growth environment, his background is now particularly well-suited to OCZ's current SSD Enterprise initiatives as he has previous storage industry experience from working at Samsung's storage division, Toshiba Disk Products, and Seagate Technology. As the newly appointed VP of Worldwide Sales, Mr. Singh is responsible for managing the worldwide sales team as well as directly contributing to the company's fast paced growth in the Enterprise and Channel SSD market. "Richard will be a great asset to our team as we continue our rapid growth worldwide. He has a proven track record of accelerating sales growth and the storage experience to enhance OCZ's position as a leader in the SSD space," said Ryan Petersen, CEO of the OCZ Technology Group. "We are excited to have Richard rejoin our team, where his experience and leadership will further establish OCZ as a premier provider of memory, SSDs, and power management solutions to the channel and enterprise markets." "There is a tremendous growth opportunity ahead for OCZ's solid state drive solutions," said Mr. Singh. "OCZ has always focused on innovative and premium solutions and I am thrilled to rejoin the team as we continue to deliver the best products and service to our expanding worldwide customer base."
In addition to his previous role as Senior Vice President of World Wide Sales at OCZ, Mr. Singh has more than 20 years' experience in sales and sales management positions in high tech companies such as Corsair Memory Inc., ON-Stream Data, Samsung, Toshiba, and Seagate Technologies.About OCZ Technology Group, Inc. Founded in 2002, San Jose, CA-based OCZ Technology Group, Inc. ("OCZ") is a leader in the design, manufacturing, and distribution of high performance and reliable Solid State Drives (SSDs) and premium computer components. OCZ has built on its expertise in high-speed memory to become a leader in the SSD market, a technology that competes with traditional rotating magnetic hard disk drives (HDDs). SSDs are faster, more reliable, generate less heat and use significantly less power than the HDDs used in the majority of computers today. In addition to SSD technology, OCZ also offers high performance components for computing devices and systems, including enterprise-class power management products as well leading-edge computer gaming solutions. For more information, please visit: www.ocztechnology.com. The OCZ Technology Group, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7439 Forward-Looking Statements Certain statements in this release relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of OCZ Technology Group, Inc. to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "would," "expect," "anticipate," "should" or other similar words and phrases often identify forward-looking statements made on behalf of OCZ. It is important to note that actual results of OCZ may differ materially from those described or implied in such forward-looking statements based on a number of factors and uncertainties, including, but not limited to, market acceptance of OCZ's products and OCZ's ability to continually develop enhanced products; adverse changes both in the general macro-economic environment as well as in the industries OCZ serves, including computer manufacturing, traditional and online retailers, information storage, internet search and content providers and computer system integrators; OCZ's ability to efficiently manage material and inventory, including integrated circuit chip costs and freight costs; and OCZ's ability to generate cash from operations, secure external funding for its operations and manage its liquidity needs. Other general economic, business and financing conditions and factors are described in more detail in "Item 1A - Risk Factors" in Part II in OCZ's Annual Report on Form 10-K filed with the SEC on May 20, 2010. The filing is available both at www.sec.gov as well as via OCZ's website at www.ocztechnology.com. OCZ does not undertake to update its forward-looking statements.
CONTACT: OCZ Technology Group, Inc. Ryan Petersen, CEO 408-733-8400 The Investor Relations Group Investor Relations: Adam Holdsworth Public Relations: Mike Graff 212-825-3210