Management Changes At Atlantic Technology

26-Mar-04

The board of directors of Atlantic Technology has reluctantly accepted the resignation today of its President and CEO, Oscar Ciornei. Ciornei, whose OAC Group acquired an interest in Atlantic Technology in January 2003, has returned control of the Norwood, Mass., loudspeaker, electronics and multiroom systems manufacturer to its original Board of Directors today. Peter Tribeman, Atlantic Technology's Chairman and Founder, will resume his role as CEO, heading up the new Executive Management Team established by Ciornei over the past year. Atlantic Technology is moving forward in executing its business plan, which was carefully developed during the past year, and no changes in distribution are planned as a result of Ciornei's departure.Ciornei and his OAC group have managed Atlantic Technology since the beginning of 2003. During that time, Ciornei and his OAC partner, Joshua Cooper, successfully led the company in designing and developing a complete new line of home theater speakers to replace Atlantic's prior offerings, as well as co-developing the Systemline CAT-5 audio distribution system and all the related marketing, sales and distribution programs. ìSince Atlantic Technology is well on its way toward making a stronger market presence, I now look forward with eagerness to new opportunities and challenges,î concluded Ciornei. ìI leave the company proud of what we have achieved, and safe in the knowledge that there is a great team of people in place to continue the great accomplishments we have made in the past fifteen months.îìWe are very appreciative of everything Oscar has brought to Atlantic Technology,î said Tribeman. ìOscar's knowledge, creativity and energy have revitalized our approach to business. Although we are sad to see Oscar step down from his CEO role, we are delighted that The OAC Group will stay on in a consulting capacity to continue to assist us in our growth plans for the future. We wish him well as he moves on to future endeavors.î Joshua Cooper will continue to work with Atlantic as an OAC Group consultant as Creative Director.For more information on Atlantic Technology, visit www.atlantictechnology.com.

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