Ubiquiti Networks Names Craig Foster as Chief Financial Officer
SAN JOSE, CA -- (Marketwire) -- 02/28/13 -- Ubiquiti Networks, Inc.
(NASDAQ: UBNT) ("Ubiquiti"), a next-generation communications
technology company, today announced that Craig Foster will join the
company as Chief Financial Officer, effective March 4, 2013. Mr.
Foster will report directly to Founder, Chairman and Chief Executive
Officer Robert J. Pera.
"Craig brings a compelling combination of financial and operating
experience and a deep understanding of Ubiquiti's business. He will
play a key role in shaping overall strategy and creating the
operational foundation to expand our business into new markets," said
"I am thrilled to join Ubiquiti at such an exciting time for the
company and the industry," said Mr. Foster. "Ubiquiti's disruptive
technology is opening up new markets for Internet services where it
wasn't possible before. Ubiquiti's unique operating model parallels
my core beliefs on how companies should be optimized for growth and
profitability. I look forward to working with the team to strengthen
and expand this transformational business and help drive the next
phase of growth."
Mr. Foster joins Ubiquiti from Credit Suisse where he served as a
director in the investment banking group focused on technology
infrastructure and software from June 2012 to February 2013. From
August 2007 to June 2012, he worked at UBS investment bank as an
Executive Director, and most recently as the co-head of the software
group. During his investment banking career Mr. Foster completed over
$6 billion of investment banking transactions, including the initial
public offering of Ubiquiti Networks in October 2011.
Prior to banking, Mr. Foster was an early employee of Loudcloud, Inc.
and held a number of management positions in product management,
business development and finance. He also held various positions at
RBC Capital Markets, Open Market, Deloitte Consulting, and
Mr. Foster holds an M.B.A. in Finance from the Wharton School of
Business and a B.A. in Economics from the University of California,
About Ubiquiti Networks
Ubiquiti Networks (NASDAQ: UBNT) is closing the digital divide by
building network communication
platforms for everyone, everywhere.
With over 10 million devices deployed in more than 180 countries,
Ubiquiti is transforming under-networked businesses and communities.
Our leading edge platforms airMAX(TM), UniFi(TM), airFiber(TM),
airVision(TM), mFi(TM) and EdgeMAX(TM) combine innovative technology,
disruptive price performance and the support of a global user
community to eliminate barriers to connectivity. For more
information, join our community at http://www.ubnt.com.
Safe Harbor for Forward Looking Statements
Certain statements in this press release are forward-looking
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1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Statements other than statements of historical fact
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that could be deemed forward-looking statements include statements
regarding CFO transition, release of new products and expected
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statements or assumptions underlying any of the foregoing. You should
not place undue reliance on these forward-looking statements. Also,
forward-looking statements represent our management's beliefs and
assumptions only as of the date made. Ubiquiti Networks undertakes no
obligation to update information contained in this press release. You
should review our SEC filings carefully, particularly the discussions
under the heading "Risk Factors" and elsewhere in our Annual Report
on Form 10-K for the year ended June 30, 2012 and other filings filed
with the U.S. Securities and Exchange Commission that identify risks
that could cause actual results to differ from those made in such
The Abernathy MacGregor Group
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