NEW HARTFORD, N.Y. – March 26, 2012 – PAR Technology Corporation (NYSE: PAR) today announced Dr. Paul D. Nielsen will retire from the Board of Directors effective at the upcoming Annual Shareholders’ Meeting on June 7, 2012.
Commenting on Dr. Nielsen’s retirement, Paul B. Domorski, PAR’s Chairman of the Board, Chief Executive Officer and President, stated, “PAR Technology’s shareholders have benefited from the unique perspective and insights Paul Nielsen brought as a Director. He is a remarkable man, with an extraordinary record of accomplishment, and has contributed a great deal to the development and implementation of PAR Technology’s focused strategy. My colleagues join me in thanking him for his service and in wishing him the very best in his ongoing role leading the Software Engineering Institute at Carnegie Mellon University.”
PAR Technology also announced today the intention of the Board of Directors to reduce the number of Directors from seven to five and to recommend Sangwoo Ahn be reelected as a Director for a customary three year term. Details will be set forth in PAR Technology’s Annual Proxy Statement, which the Company intends to file, on Schedule 14A, with the Securities and Exchange Commission on or about April 26, 2012.
About PAR Technology Corporation
PAR Technology Corporation’s stock is traded on the New York Stock Exchange under the symbol PAR. PAR’s Hospitality segment has been a leading provider of restaurant and retail technology for more than 30 years. PAR offers technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. PAR also offers hotel management systems that provide a complete suite of powerful tools for guest management, recreation management, and timeshare/condo management. PAR provides the spa industry a leading management application that was specifically designed to support the unique needs of the resort spa and day spa markets, a rapidly growing hospitality segment. PAR solutions also can be found in retailers, cinemas, cruise lines, stadiums and food service companies. PAR provides technology solutions to the Department of Defense and other federal agencies to address evolving intelligence, surveillance, and reconnaissance needs, as well as being a leading provider of military communications support services. Visit www.partech.com for more information.