Lyle Fong to Assume Role as Lithium CEO Michel Thouati to Lead New Subsidiary in Emerging Markets
EMERYVILLE, California – December 13, 2006 – Lithium Technologies, today announced that Michel Thouati has stepped down as Chief Executive Officer, effective immediately, to lead a new Lithium venture focused in an emerging markets of social software for e-commerce. Lyle Fong, the company's President and CTO, will assume the role of CEO. Mr. Thouati will remain as Chairman of the Board of Directors of Lithium.
On behalf of the Lithium Board of Directors, Presiding Director Jimmy Wu said, "The Board warmly thanks Michel for his great leadership and dedication over the past few years. Under his leadership, the company is now well-positioned to become a world-leader in enterprise communities and social-networks. This year will be a record year for Lithium in sales and recurring revenue growth, as well as a year marked with notable milestones such as the release of version 8.0 of Lithium's InterActive product suite. As Chairman, Michel will continue to provide the company with strategic thinking and guidance."
"Over the years, we have worked hard in establishing a strong foundation for stability and growth," said Michel Thouati. "Lithium has now achieved this and the time has come for me to pass the baton so I can focus my energy on new high-growth emerging markets for our shareholders. I have complete faith in Lyle to lead Lithium to great success." Lithium intends to form a new subsidiary, led by Michel Thouati, to invest in emerging markets that are complementary to Lithium's business.
About Lithium Technologies
Lithium Technologies provides market-leading solutions for building successful online communities. Lithium's on-demand technology, backed by community management expert services, enable clients to increase brand loyalty, sales, and customer satisfaction while decreasing customer care costs. Lithium's solutions have been implemented by many of the world's largest organizations around the world. Vertical markets served include telecommunications, media, entertainment, technology and e-tail. Founded in 2001, Lithium is privately held with headquarters in Emeryville, California.
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