Openwave (OPWV) Board Members Pat Jones, Chuck Levine Resign; Two Others Expect to Resign
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In connection with Openwave Systems Inc. (Nasdaq: OPWV)) pursuing strategic alternatives with regard to its mediation and messaging product businesses and the sale of its location business in an effort to enable the Company to focus on its intellectual property initiative, the Company is reassessing the composition and size of its board of directors.
Effective March 23, 2012, Patrick Jones and Charles E. Levine each resigned from their respective positions on the Board.
Gerald D. Held and David C. Nagel have also notified us that they intend to resign, effective as of the date of the Company’s next Annual Meeting of Stockholders which is expected to be held in December 2012 (the effective date of each director resignation shall be referred to herein as the “Resignation Date”), from their respective positions on the Board (Mr. Jones, Mr. Levine, Mr. Held and Mr. Nagel shall each be referred to herein as a “Resigning Director”). Mr. Jones’, Mr. Levine’s, Mr. Held’s and Mr. Nagel’s decisions to resign from the Board did not arise or result from any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. In connection with his resignation from the Board, Mr. Jones also resigned as the Chairman of the Audit Committee of the Board. In connection with his resignation from the Board, Mr. Levine also resigned as a member of the Compensation Committee of the Board, as a member of the Nominating and Corporate Governance Committee of the Board and as the Chairman of the M&A Committee of the Board. In connection with his intended resignation from the Board, Mr. Held will also resign as the Chairman of the Compensation Committee of the Board and as a member of the Nominating and Corporate Governance Committee and the Intellectual Property Committee. In connection with his intended resignation from the Board, Mr. Nagel will also resign as a member of the Compensation Committee and the Intellectual Property Committee of the Board. After the resignations of Mr. Jones and Mr. Levine from the Board, the Board consists of seven members. After the resignations of Mr. Held and Mr. Nagel from the Board, assuming no other changes prior to that time, the Board will consist of five members.
Effective March 23, 2012, Patrick Jones and Charles E. Levine each resigned from their respective positions on the Board.
Gerald D. Held and David C. Nagel have also notified us that they intend to resign, effective as of the date of the Company’s next Annual Meeting of Stockholders which is expected to be held in December 2012 (the effective date of each director resignation shall be referred to herein as the “Resignation Date”), from their respective positions on the Board (Mr. Jones, Mr. Levine, Mr. Held and Mr. Nagel shall each be referred to herein as a “Resigning Director”). Mr. Jones’, Mr. Levine’s, Mr. Held’s and Mr. Nagel’s decisions to resign from the Board did not arise or result from any disagreement with the Company on any matters relating to the Company’s operations, policies or practices. In connection with his resignation from the Board, Mr. Jones also resigned as the Chairman of the Audit Committee of the Board. In connection with his resignation from the Board, Mr. Levine also resigned as a member of the Compensation Committee of the Board, as a member of the Nominating and Corporate Governance Committee of the Board and as the Chairman of the M&A Committee of the Board. In connection with his intended resignation from the Board, Mr. Held will also resign as the Chairman of the Compensation Committee of the Board and as a member of the Nominating and Corporate Governance Committee and the Intellectual Property Committee. In connection with his intended resignation from the Board, Mr. Nagel will also resign as a member of the Compensation Committee and the Intellectual Property Committee of the Board. After the resignations of Mr. Jones and Mr. Levine from the Board, the Board consists of seven members. After the resignations of Mr. Held and Mr. Nagel from the Board, assuming no other changes prior to that time, the Board will consist of five members.
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