Bruce Edwards and Kurt Busch Elected to Lantronix Board of Directors
New Independent Director Edwards Brings 25 Years of Technology Industry Leadership and Experience
IRVINE, CA, Nov 16, 2012 (Menafn - MARKETWIRE via COMTEX) --Lantronix, Inc. LTRX, a leading global provider of smartM2M connectivity solutions, today announced that technology industryveteran Bruce Edwards and Lantronix president and CEO Kurt Busch wereelected to the company's board of directors at the company's annualstockholders meeting on November 12, 2012.
Current directors Bernhard Bruscha, Paul Folino and Hoshi Printerwere also elected at the annual stockholders meeting.
Edwards, 59, currently serves as a director of Semtech Corporation, asupplier of analog and mixed signal semiconductor products and EmulexCorporation, a premier global provider of advanced storage networkinginfrastructure solutions. In February 1996, he joined PowerwaveTechnologies Inc., a designer, manufacturer and supplier of advancecoverage and capacity solutions for the wireless communicationsindustry, as CEO, president and a director. In February 2005, Edwardsbecame executive chairman and retired from Powerwave in November2007. During his 12 years at Powerwave, revenues grew from 36million to 780 million. Prior to Powerwave, Edwards was executivevice president, chief financial officer and director of AST ResearchInc., a personal computer company.
In his new role, Edwards was elected by the board to serve asCompensation Committee chair and as a member of the board's AuditCommittee and Corporate Governance and Nominating Committee. Edwardssucceeds former independent director John Rehfeld who retiredfollowing the company's annual stockholders meeting.
"On behalf of Lantronix, I would like to extend our gratitude andthanks to former director John Rehfeld. John was a valued member ofthe board as we transitioned to a new management team and put inplace a new strategy to establish long-term growth and value for thecompany," said Chairman Bernhard Bruscha. "At the same time, we arethrilled to welcome an executive of Bruce Edwards' exceptionalquality to the board. Bruce brings more than 25 years of real worldexperience as a successful technology CEO, CFO and director. Hisproven track record in growing companies, in-depth understanding ofthe technology business and his deep connections in the industry makehim a highly valued addition to Lantronix."
"I'm pleased to be joining Lantronix as the company pursues thesecond phase of its strategic plan to achieve profitable growth,"said Edwards. "I look forward to working with the board and CEO KurtBusch to help guide the company during this exciting time in itsdevelopment and to help build value for our shareholders."
Kurt Busch, 42, has served as Lantronix president and CEO sinceAugust 2011. Prior to joining Lantronix, he served in seniorleadership positions at Mindspeed Technologies, a leading supplier ofsemiconductor solutions for network infrastructure solutions. Priorto Mindspeed, Busch's experience included business development rolesat Analog Devices, as well as roles in engineering, sales, marketingand general management at Digital Equipment Corporation (DEC), Intel,and two Silicon Valley start-ups.
"Since joining the company last August, Kurt has demonstrated astrength of leadership that has translated into measurable,significant operational and financial results for Lantronix," saidBruscha. "Kurt's accomplishments, combined with his energy,dedication and solutions-oriented management style make him a welcomeand valued addition to the board of directors."
Lantronix, Inc. LTRX is a global leader of securecommunication technologies that simplify access and communicationwith and between virtually any electronic device. Our smartconnectivity solutions enable sharing data between devices andapplications to empower businesses to make better decisions based onreal-time information, and gain a competitive advantage by generatingnew revenue streams, improving productivity and increasing efficiencyand profitability. Easy to integrate and deploy, Lantronix productsremotely and securely connect electronic equipment via networks andthe Internet. Founded in 1989, Lantronix serves some of the largestmedical, security, industrial and building automation,transportation, retail/POS, financial, government, consumerelectronics/appliances, IT/data center and pro-AV/signage entities inthe world. The company's headquarters are located in Irvine, Calif.
For more information, visit www.lantronix.com. The Lantronix blog,http://www.lantronix.com/blog, features industry discussion andupdates.
Forward-Looking Statements This news release containsforward-looking statements, including statements concerning ourfuture business plans, future financial position, future results ofoperations and future product development strategies and schedules.These forward-looking statements are based on current managementexpectations and are subject to risks and uncertainties that couldcause actual reported results and outcomes to differ materially fromthose expressed in the forward-looking statements. For a moredetailed discussion of these and other risks and uncertainties, seeour SEC filings, including our Annual Report on Form 10-K and ourQuarterly Reports on Form 10-Q. Readers are cautioned not to placeundue reliance on these forward-looking statements, which speak onlyas of the date hereof, and the Company undertakes no obligation toupdate these forward-looking statements to reflect subsequent eventsor circumstances. If the Company does update or correct one or moreof these forward-looking statements, investors and others should notconclude that the Company will make additional updates orcorrections.
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SOURCE: Lantronix, Inc.
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