Tranax announces new board, preps company for growth

Tranax announces new board, preps company for growth

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4/17/07

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FREMONT, Calif. - Tranax Technologies Inc. has created a board of directors, a sign of the company's preparation for growth, it says.

"We've brought in a very experienced team of senior executives to help steer the company - all of whom have successfully built large global, high-technology companies," said Tranax founder and chief executive Dr. Hansup Kwon. "They bring a wealth of experience and expertise in operations, finance, strategy and management. Their purpose is to help Tranax Technologies be in position for its next phase of growth."

The role of the newly created board of directors will be to serve as a sounding board and counsel to help the CEO and executive team. The board also is expected to implement practices and strategies as well as oversee hiring.

The five board members are expected to serve three-year terms. The team compromises non-executive directors Wolfgang H. Hausen, Jack McDonnell Jr. and Dr. Kathryn S. Hanson; executive directors Dr. Kwon and Heemook Kwon. Diane Holt Frankel will serve as board counsel.

Hausen is the former president and CEO of 3Dconnexion, a subsidiary of Logitech. He also served as senior vice president and general manager of Logitech's control device business division. He holds a degree from the Technical University of Darmstadt, Germany, an MBA from Santa Clara University in California, and is a member of the advisory board and is an executive professor of management at Santa Clara University's School of Business.

McDonnell is the founder of TNS, an e-commerce data-communications company, and the former chairman and CEO of PayLinX. He also is founder and head of the Electronic Funds Transfer Association, and is the recipient of KPMG Peat Marwick LLP's 1997 High Tech Entrepreneur Award and the Rensselaer Polytechnic Institute 2002 Entrepreneur of the Year Award. He serves as a director at DealerTrack and Cyber Source. McDonnell holds a master's degree in electrical engineering from Rensselaer Polytechnic Institute in New York, a bachelor's degree in electrical engineering from Manhattan College, and an honorary doctorate from Marymount University in Virginia.

Hanson is chief marketing officer of Red Herring Inc. She has held management positions at Hewlett-Packard, Convergent and Pensare. Hanson also co-founded two Internet start-ups, SatMetrix and eMentoring.com.

Hanson earned her master's degree with Distinction from Harvard University. She also holds a master's and PhD from the University of Chicago as well as a bachelor's degree from Stanford University.

Frankle is an attorney with the international law firm DLA Piper where she specializes in mergers and acquisitions, corporate governance, disclosure, anti-takeover counseling, internal investigations, public offerings, venture-capital financing, new-company formation, and executive compensation. She was listed in the 2005 Who's Who Legal: The International Who's Who of Business Lawyers and in 2006 was recognized as one of Northern California's "Super" lawyers for her mergers and acquisitions practice, in San Francisco magazine.

Frankle holds a bachelor's degree from the College of Wooster in Ohio and a law degree from Georgetown University Law Center.