March 2, 2001
Garmin® Ltd. Appoints New Members to Board of
Garmin Ltd. (Nasdaq: GRMN) is pleased to announce the appointment
by its Board of Directors of Gene M. Betts, Donald H. Eller and
Thomas A. McDonnell to fill vacancies in the companys board.
The newly appointed directors will stand for re-election by the
shareholders at Garmin's Annual Meeting, which is scheduled for
June 8, 2001. Garmin has set April 23, 2001 as the record date
for shareholders entitled to vote at the annual meeting.
"We endeavored to find the right mix of leadership and experience
to fill the vacancies on our Board of Directors," said Gary
L. Burrell, co-chairman and co-CEO of Garmin Ltd. "These
three gentlemen bring keen financial, corporate and industry insight
to our board and help round out the capabilities of our board
Gene Betts is senior vice-president and treasurer of Sprint Corp.
(NYSE: FON and PCS), a global communications company with long-distance,
local and wireless voice and data communications. Mr. Betts is
responsible for capital markets and treasury operations, mergers
and acquisitions, taxes, corporate financial planning and budgeting,
pension and savings trust management, and risk management and
loss prevention for Sprint and all of its subsidiaries. Prior
to joining Sprint, he was a partner with Arthur Young & Co.
(now Ernst & Young).
Donald Eller is a private investor. He holds B.S., M.S. and Ph.D.
degrees in electrical engineering from the University of Texas.
Dr. Eller has held several management positions in the defense
electronics industry, including manager of systems analysis for
Teledyne Systems Co. and manager of navigation and weapon system
design for a division of Magnavox Corp. He is recognized as an
industry expert in GPS, inertial and other navigation systems.
He has served as a consultant for Lockheed Corp. and has provided
consulting services to the GPS Joint Program Office.
Thomas McDonnell is president and CEO and a director of DST Systems
Inc. (NYSE: DST), a leading provider of computer software solutions,
recordkeeping and other services to the financial, telecommunication
and video services industries. Mr. McDonnell is also a director
of BHA Group Inc., Computer Sciences Corp., Euronet Services Inc.,
and Informix Software Inc.
Through its operating subsidiaries, Garmin Ltd. designs and manufactures
navigation, communication and information devices. The company's
primary markets are aviation, marine, outdoor recreation, automotive,
wireless and OEM. Garmin Ltd. is incorporated in the Cayman Islands,
and its principal subsidiaries are located in the United States,
Taiwan and United Kingdom. Garmin went public on Dec. 8, 2000.