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SonicBlue Makes Management Appointments Permanent

8 Oct, 2002 By: Hive News

SonicBlue Inc.'s board of directors has made L. Gregory Ballard's assignment as interim CEO and Marcus Smith, who was serving as interim CFO, to the permanent posts, the company announced.

"I am pleased to accept this position and appreciate the board's vote of confidence in my abilities," said Ballard, who was also appointed to the board of directors. "The actions the company has taken since my appointment as interim CEO are indicative of the course I plan to maintain. We plan to continue to cut operating expenses, increase margins and eliminate redundancies wherever possible. Most importantly, we will strive to create high quality products and let our reputation follow. In short, we intend to do everything we can to run a successful consumer electronics business."

Ballard joined SonicBlue in April. Previously he served as CEO at 3dfx and MyFamily.com, a subscription based Internet service; as well CEO and COO for Warner Custom Music, a Division of Time Warner, Inc.

Smith joined SonicBlue through the acquisition of ReplayTV in August 2001. Credited as a key player in the successful integration of SonicBlue, ReplayTV and Sensory Science's finances and financial models, Smith served as VP of finance at SonicBlue, responsible for SEC reporting, audit, tax, treasury, financial planning and financial systems, prior to being appointed interim chief financial officer.

Prior to ReplayTV, he served as controller for Storm Technology, Inc., from 1996 to 1998 where he helped manage the company's initial public offering in 1996. From 1985 to 1996, Smith was most recently a senior manager of business and advisory services at Price Waterhouse.

"Greg and Marcus have done a tremendous job in their interim roles and the board of directors is impressed with the leadership they have provided during this critical transition phase," said board member Jim Schraith. "We are confident that they are the right leaders to move the company through its next phase."

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