INDIANAPOLIS, May 10, 2011 (GLOBE NEWSWIRE) -- Brightpoint, Inc. (Nasdaq:CELL), a global leader in providing supply chain solutions to the wireless industry, today announced that its Board of Directors has appointed Michael L. Smith as a Class II Director to its Board of Directors.
Mr. Smith has significant management and financial reporting expertise, with over 30 years of financial, accounting and business experience, including having served as Chief Financial Officer of both public and private companies and as a director of numerous publicly held corporations in a variety of industries.
Jerre L. Stead, Brightpoint's Lead Independent Director, stated, "We are very fortunate to have Michael serve as a member of Brightpoint's Board of Directors. Michael, as former Executive Vice President and CFO of WellPoint, Inc. and a current member of several public company audit committees, brings to the Board a wealth of knowledge in dealing with financial and accounting matters. In addition, his experience from a variety of industries will enable him to provide a fresh perspective and valuable contributions as Brightpoint continues to execute on its growth strategy."
About Michael L. Smith
Michael L. Smith was appointed to the Board of Directors of the Company effective May 10, 2011. In addition to serving on Brightpoint's board, Mr. Smith serves on the board of directors and audit committees of the following public companies: Kite Realty Group, Inc. (a REIT), hhgregg, Inc. (a home appliance and electronic retailer), Emergency Medical Services Corporation (a provider of emergency medical services) and Vectren Corporation (a diversified utilities company). Mr. Smith was Executive Vice President and Chief Financial Officer of WellPoint, Inc., from 1999 until he retired on January 31, 2005. He previously served as a director of the following publicly traded companies: Calumet Specialty Products Partners, InterMune Inc. and First Indiana Corporation (which was acquired by Marshall & Ilsley Corporation in 2008).
About Brightpoint, Inc.
Brightpoint, Inc. (Nasdaq:CELL) is a global leader in providing end-to-end supply chain solutions to leading stakeholders in the wireless industry. In 2010, Brightpoint handled approximately 99 million wireless devices globally. Brightpoint's innovative services include distribution channel management, procurement, inventory management, reverse logistics and repair services, software loading, kitting and customized packaging, fulfillment, product customization, eBusiness solutions, and other outsourced services that integrate seamlessly with its customers. Brightpoint's effective and efficient platform allows its customers to benefit from quickly deployed, flexible, and cost effective solutions. Brightpoint has approximately 4,000 employees, as well as a significant number of temporary staff, and a global footprint covering more than 35 countries, including 13 Latin American countries through its investment in Intcomex, Inc. In 2010, Brightpoint generated revenue of $3.6 billion. Brightpoint provides distribution and customized services to over 25,000 B2B customers worldwide. Additional information about Brightpoint can be found on its website at www.brightpoint.com, or by calling its toll-free Information and Investor Relations line at 877-IIR-CELL (877-447-2355).
Certain information in this press release may contain forward-looking statements regarding future events or the future performance of Brightpoint. These statements are only predictions and actual events or results may differ materially. Please refer to the documents Brightpoint files, from time to time, with the Securities and Exchange Commission, including Brightpoint's most recent Form 10-K and Form 10-Q and Exhibit 99.1, thereto. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in or implied by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date these statements were made. Brightpoint undertakes no obligation to update any forward-looking statements contained in this press release.