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 -- (Marketwire) -- 11/16/12 -- Lantronix, Inc. (NASDAQ:
LTRX), a leading global provider of smart M2M connectivity solutions,
today announced that technology industry veteran Bruce Edwards and
Lantronix president and CEO Kurt Busch were elected to the company's
board of directors at the company's annual stockholders meeting on
November 12, 2012.
Current directors Bernhard Bruscha, Paul Folino and Hoshi Printer
were also elected at the annual stockholders meeting.
Edwards, 59, currently serves as a director of Semtech Corporation, a
supplier of analog and mixed signal semiconductor products and Emulex
Corporation, a premier global provider of advanced storage networking
infrastructure solutions. In February 1996, he joined Powerwave
Technologies Inc., a designer, manufacturer and supplier of advance
coverage and capacity solutions for the wireless communications
industry, as CEO, president and a director. In February 2005, Edwards
became executive chairman and retired from Powerwave in November
2007. During his 12 years at Powerwave, revenues grew from $36
million to $780 million. Prior to Powerwave, Edwards was executive
vice president, chief financial officer and director of AST Research
Inc., a personal computer company.
In his new role, Edwards was elected by the board to serve as
Compensation Committee chair and as a member of the board's Audit
Committee and Corporate Governance and Nominating Committee. Edwards
succeeds former independent director John Rehfeld who retired
following the company's annual stockholders meeting.
"On behalf of Lantronix, I would like to extend our gratitude and
thanks to former director John Rehfeld. John was a valued member of
the board as we transitioned to a new management team and put in
place a new strategy to establish long-term growth and value for the
company," said Chairman Bernhard Bruscha. "At the same time, we are
thrilled to welcome an executive of Bruce Edwards' exceptional
quality to the board. Bruce brings more than 25 years of real world
experience as a successful technology CEO, CFO and director. His
proven track record in growing companies, in-depth understanding of
the technology business and his deep connections in the industry make
him a highly valued addition to Lantronix."
"I'm pleased to be joining Lantronix as the company pursues the
second phase of its strategic plan to achieve profitable growth,"
said Edwards. "I look forward to working with the board and CEO Kurt
Busch to help guide the company during this exciting time in its
development and to help build value for our shareholders."
Kurt Busch, 42, has served as Lantronix president and CEO since
August 2011. Prior to joining Lantronix, he served in senior
leadership positions at Mindspeed Technologies, a leading supplier of
semiconductor solutions for network infrastructure solutions. Prior
to Mindspeed, Busch's experience included business development roles
at Analog Devices, as well as roles in engineering, sales, marketing
and general management at Digital Equipment Corporation (DEC), Intel,
and two Silicon Valley start-ups.
"Since joining the company last August, Kurt has demonstrated a
strength of leadership that has translated into measurable,
significant operational and financial results for Lantronix," said
Bruscha. "Kurt's accomplishments, combined with his energy,
dedication and solutions-oriented management style make him a welcome
and valued addition to the board of directors."
Lantronix, Inc. (NASDAQ: LTRX) is a global leader of secure
communication technologies that simplify access and communication
with and between virtually any electronic device. Our smart
connectivity solutions enable sharing data between devices and
applications to empower businesses to make better decisions based on
real-time information, and gain a competitive advantage by generating
new revenue streams, improving productivity and increasing efficiency
and profitability. Easy to integrate and deploy, Lantronix products
remotely and securely connect electronic equipment via networks and
the Internet. Founded in 1989, Lantronix serves some of the largest
medical, security, industrial and building automation,
transportation, retail/POS, financial, government, consumer
electronics/appliances, IT/data center and pro-AV/signage entities in
the 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 and
This news release contains
forward-looking statements, including statements concerning our
future business plans, future financial position, future results of
operations and future product development strategies and schedules.
These forward-looking statements are based on current management
expectations and are subject to risks and uncertainties that could
cause actual reported results and outcomes to differ materially from
those expressed in the forward-looking statements. For a more
detailed discussion of these and other risks and uncertainties, see
our SEC filings, including our Annual Report on Form 10-K and our
Quarterly Reports on Form 10-Q. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only
as of the date hereof, and the Company undertakes no obligation to
update these forward-looking statements to reflect subsequent events
or circumstances. If the Company does update or correct one or more
of these forward-looking statements, investors and others should not
conclude that the Company will make additional updates or
Investor Relations Contacts:
Chief Financial Officer
E.E. Wang Lukowski
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