SanDisk 2005 Annual Report Download - page 88

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and engineering positions at Chips and Technologies, Inc., Signetics, and Delco Electronics. Mr. Chan was one of
the principal organizers of the CompactFlash Association (CFA) and the MultiMediaCard Association (MMCA).
He is an officer and board member of the CFA. Mr. Chan holds a B.S. degree in Electrical and Computer
Engineering from the University of California, Santa Barbara and an M.B.A. degree from Santa Clara University.
Judy Bruner has been our Chief Financial Officer and Executive Vice President Administration since June
2004. She served as a member of our board of directors from July 2002 to July 2004. Ms. Bruner has over 25 years of
financial management experience, including serving as Senior Vice President and Chief Financial Officer of
palmOne, Inc., a provider of handheld computing and communications solutions, from September 1999 until June
2004. Prior to palmOne, Ms. Bruner held financial management positions with 3Com Corporation, Ridge
Computers and Hewlett-Packard Company. Ms. Bruner also serves on the board of directors of Ciphergen
Biosystems, Inc. Ms. Bruner holds a B.A. degree in Economics from the University of California, Los Angeles
and an M.B.A. degree from Santa Clara University.
Randhir Thakur has been our Executive Vice President, Technology and Worldwide Operations since October
2005. Prior to joining us, Dr. Thakur was group Vice President and General Manager of the Front End Products
Group at Applied Materials. He joined Applied Materials as Chief Technical Officer of the Transistor and Capacitor
Products Business Group. Previously, Dr. Thakur was the Chief Technology Officer and General Manager at Steag
Electronic Systems. He also worked at AG Associates as Vice President of Research and Development and he held
various technical and management positions at Micron Technology. Dr. Thakur holds more than 250 patents and has
published more than 200 technical publications. Dr. Thakur received his B.S. degree (honors) in Electronics and
Telecommunications Engineering from the Regional Engineering College, Kurukshetra, India, and a M.S. degrees
in Electrical Engineering from the University of Saskatchewan, Canada. Dr. Thakur received his Ph.D. in Electrical
Engineering from the University of Oklahoma.
Yoram Cedar is our Executive Vice President, Handset Business and Corporate Engineering. Prior to October
2005, Mr. Cedar served as our Senior Vice President of Engineering and Emerging Market Business Development.
Mr. Cedar began his career at SanDisk in 1998 when he joined as Vice President of Systems Engineering. He has
extensive experience working in product definition, marketing and development of systems and embedded flash-
based semiconductors. Prior to SanDisk, he was the Vice President of New Business Development at Waferscale
Integration and has more than 27 years of experience in design and engineering management of electronic systems.
Mr. Cedar earned B.S. and M.S. degrees in Electrical Engineering and Computer Architecture from Technion, Israel
Institute of Technology, Haifa, Israel.
ITEM 1A. RISK FACTORS
Our operating results may fluctuate significantly, which may adversely affect our operations and our stock
price. Our quarterly and annual operating results have fluctuated significantly in the past and we expect that they
will continue to fluctuate in the future. This fluctuation could result from a variety of factors, including, among
others, the following:
• decline in the average selling prices, net of promotions, for our products due to strategic price reductions
initiated by us or our competitors, excess supply and competitive pricing pressures;
• addition of new competitors, expansion of supply from existing competitors or cancellation of orders
creating excess market supply, which could cause our average selling prices to decline faster than our costs
decline;
• timing, volume and cost of wafer production from the FlashVision and Flash Partners ventures as impacted
by fab start-up delays and costs, technology transitions, yields or production interruptions due to natural
disasters, power outages, equipment failure or other factors;
• unpredictable or changing demand for our products, particularly demand for certain types or capacities of
our products or demand for our products in certain markets or geographies;
• insufficient supply from captive and non-captive sources or insufficient capacity from our test and assembly
sub-contractors to meet demand;
13
Annual Report