Iteris Appoints Two New Directors to the Board
ANAHEIM, Calif.--Oct. 3, 2005--Iteris Inc. (AMEX:ITI), a leader in the development of vision-based technology that enhances driver safety, today announced that Richard Char and Abbas Mohaddes have joined the company's board of directors. The appointment of Char and Mohaddes fill the vacancies on the board created when the company's stockholders approved the Iteris bylaw amendment to increase the size of the board to 11 at the 2005 Annual Meeting.Char served as the president and chief executive officer of IC Media, a developer of CMOS image sensors and managing director with the Technology Group of Credit Suisse First Boston. Prior to that, Char was co-head of technology investment banking at Cowen & Co. and a partner in the law firm of Wilson Sonsini Goodrich & Rosati. Char will also serve on the Iteris Audit Committee as its chairman.
Mohaddes is the executive vice president and general manager of Transportation Systems and the company's assistant secretary. Mohaddes served as the executive vice president and secretary of the Iteris subsidiary and served as president and chief executive officer of Meyer, Mohaddes Associates Inc., an ITS and transportation firm that he co-founded, which was acquired by the Iteris subsidiary in 1998. Mohaddes is a nationally recognized expert in ITS and is a founding member of ITS America.
"Richard Char and Abbas Mohaddes are strong additions to the Iteris board," said Greg Miner, chairman of Iteris. "Mr. Char brings to Iteris a diverse base of experience in investment banking, corporate finance, securities law, and operations. Mr. Mohaddes is a senior executive with strong experience in all facets of business operations and strategy, and has a national reputation as a leader in the Intelligent Transportation Systems industry. We look forward to their contributions to the Iteris board."
About Iteris Inc.
Iteris Inc. is a leading provider of outdoor vision systems and sensors that optimize the flow of traffic and enhance driver safety. Iteris Inc. combines outdoor image processing, traffic engineering, and information technology to offer a broad range of transportation and safety solutions. Iteris Inc. has headquarters in Anaheim. Investors are encouraged to contact the company at 714-774-5000, or at www.iteris.com.