Digital Angel Names Kevin N. McGrath to Board of Directors
January 05 2004 - 1:00PM
PR Newswire (US)
Digital Angel Names Kevin N. McGrath to Board of Directors
Appointment of Former DirecTV Latin America Chairman Increases
Outside Directors to Three SO. ST. PAUL, Minn., Jan. 5
/PRNewswire-FirstCall/ -- Digital Angel Corporation , an advanced
technology company in the field of rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets, today announced that it has named veteran Hughes
Electronics Corporation senior executive and former DirecTV Latin
America Chairman, Kevin N. McGrath, to its Board of Directors,
effective immediately. The appointment of McGrath increases the
total number of independent, outside Directors to three and expands
the Board to six members. Mr. McGrath has spent the past 16 years
at El Segundo, CA-based Hughes Electronics Corp., and for the past
seven years has been Chairman of DirecTV Latin America, a Hughes
subsidiary based in Fort Lauderdale, FL, and was a Hughes Corporate
Vice President and a member of its Management Committee. McGrath
was responsible for the start-up, development and operation of what
has become the world's largest Latin American, direct-to-home pay
television business with 1.6 million subscribers in 28 countries
and more than $600 million in annual revenue. "Kevin's financial
management background, business acumen and entrepreneurial skills
make him a key addition to the Digital Angel Corporation Board of
Directors," said Scott R. Silverman, Vice Chairman of Digital Angel
Corporation. "He has considerable expertise in developing and
launching domestic and international business enterprises and has
successfully reshaped and managed organizations during periods of
significant shifts in strategic focus. Kevin's counsel and
leadership will be invaluable in the months ahead as we reposition
Digital Angel to become a significant force in the field of
advanced location technology and condition monitoring for
high-value assets." McGrath also spent two years as President of
DirecTV International and helped bring satellite-based Pay TV to a
world-wide audience. During that time he also advised Hughes
Management and its Board of Directors in all aspects of creating,
funding and managing satellite-based businesses in diverse regions
of the world. He has also held a number of other senior level
executive positions at Hughes, including President of Hughes
Communications, Inc., and Chief Financial Officer of Hughes Space
and Communications Group. Prior to his work at Hughes, McGrath
spent two years as Chief Financial Officer for Electronic Data
Systems, Asia and Pacific, and 10 years in various financial
management positions at General Motors Corp. McGrath is a graduate
of Princeton University and received an MBA from the Amos Tuck
School at Dartmouth College. About Digital Angel Corporation
Digital Angel Corporation develops and deploys sensor and
communications technologies that enable rapid and accurate
identification, location tracking, and condition monitoring of
high-value assets. Applications for the Company's products include
identification and monitoring of pets, fish and livestock through
its patented implantable microchips; location tracking and message
monitoring of vehicles and aircraft in remote locations through
systems that integrate GPS and geosynchronous satellite
communications; and monitoring of asset conditions such as
temperature and movement, through advanced miniature sensors.
Digital Angel Corporation is majority-owned by Applied Digital
Solutions, Inc. (NASDAQ:ADSX). For more information about Digital
Angel, please visit http://www.digitalangelcorp.com/. Statements
about the company's future expectations, including future revenues
and earnings, and all other statements in this press release other
than historical facts are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934, and as that term is defined
in the Private Litigation Reform Act of 1995. Such forward-looking
statements involve risks and uncertainties and are subject to
change at any time, and the company's actual results could differ
materially from expected results. The company undertakes no
obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. For further
information, please contact Investors, Jay McKeage,
+1-212-691-8087, , or Media, Len Hall, +1-949-474-4300, , both of
Allen & Caron Inc, for Digital Angel Corporation. DATASOURCE:
Digital Angel Corporation CONTACT: Investors, Jay McKeage,
+1-212-691-8087, , or Media, Len Hall, +1-949-474-4300, , both of
Allen & Caron Inc, for Digital Angel Corporation Web site:
http://www.digitalangelcorp.com/
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