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Sensormatic Electronics Corporation
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Investor Contact: Alison Tanner, CFA
Director of Financial Relations
FOR IMMEDIATE RELEASE (561) 989-7556
Media Contact: Debbie Coller
Vice President of Corp. Communications
(561) 989-7035
SENSORMATIC ANNOUNCES SEARCH FOR ADDITIONAL BOARD MEMBERS
BOCA RATON, FL. OCTOBER 21, 1999 -- Sensormatic Electronics Corporation (NYSE:
SRM) today announced that it plans within the next twelve months to enlarge its
Board of Directors by adding two new independent directors. The Company will
engage a search firm as part of its active efforts to recruit qualified
candidates who would be expected to contribute significantly to the Company's
future direction and growth. In particular, the Board will be seeking
candidates with expertise in technology and marketing, as well as in the
markets that Sensormatic serves.
The Company noted that this search is a continuation of its program to augment
its Board with independent directors, which commenced in 1995. Through that
program, three independent directors, Timothy P. Hartman, former Chairman of
NationsBank Texas, J. Richard Munro, former Co-Chairman and Co-Chief Executive
Officer of Time Warner Inc., and Fred A. Briedenbach, former President and
Chief Operating Officer of Gulfstream Aerospace Corporation, have joined
Sensormatic's Board. In addition, the Company's recently appointed President
and Chief Executive Officer, Per-Olof Loof, has joined the Board. The board
currently consists of eight members.
Except for historical matters, the matters discussed in this news release are
forward looking statements which reflect the Company's current views with
respect to future events and financial performance. These forward-looking
statements are subject to certain risks and uncertainties which could cause
actual results to differ materially from historical results or those
anticipated. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
The following factors, among other possible factors, could cause actual results
to differ materially from historical results or those anticipated: changes in
international operations, exchange rate risk, market conditions for the
Company's products, the Company's ability to provide innovative and
cost-effective solutions, development risks, changes in regulations or
standards applicable to the Company's products, competition and changes in the
economic climate.
Sensormatic Electronics Corporation is the leading supplier of electronic
security systems to the retail, commercial and industrial marketplaces.
Sensormatic is also the leader in integrated source tagging -- a process where
consumer goods manufacturers insert anti-theft tags at the point of
manufacturing or packaging. For additional information on Sensormatic, visit
our website at http://www.sensormatic.com
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