Vitesse Adds Matthew Frey and Kenneth Traub to Board of Directors

  Vitesse Adds Matthew Frey and Kenneth Traub to Board of Directors

  Stockholders Approve the Slate of Director Nominees at 2013 Annual Meeting

Business Wire

CAMARILLO, Calif. -- March 14, 2013

Vitesse Semiconductor Corporation (Nasdaq: VTSS), a leading provider of
advanced IC solutions for Carrier and Enterprise networks, announced the
addition of Matthew Frey and Kenneth H. Traub to its Board of Directors. These
first-term directors were elected along with the slate of the Company’s five
existing members at its Annual Meeting of Stockholders held on March 7, 2013.

“Our new directors have a strong mix of leadership, business acumen, and
relevant experience that aligns with our strategic objectives,” said Chris
Gardner, CEO of Vitesse. “Matthew’s strategic, operational and software
development background supports our focus on growing new product revenues and
penetrating target markets. Ken has a wealth of complementary experience,
including senior management, corporate governance, turnaround and
transactional experience, which are necessary as we strengthen our market
position, manage our capital structure and ultimately return to sustained
profitability. We welcome them both.”

Frey and Traub join the Board with Vitesse’s re-elected directors: Chris
Gardner, Steve Hanson, Jay Hugar, Scot Jarvis, and Ed Rogas, Jr. G. William
LaRosa and G. Grant Lyon did not stand for re-election. The total board count
remains at seven.

Director Background

Matthew Frey has more than 16 years experience in senior executive and
advisory roles at technology companies and brings operational, strategic,
industry, and software development expertise to the Board. He is currently the
Chief Executive Officer of Optimum Energy, LLC, a cloud-based SaaS provider of
energy management applications for complex buildings, data centers, campuses,
hospitals, and manufacturing facilities, a position he has held since November
2010. Prior to that, he served as President and Chief Operating Officer of
World Wide Packets, a leading provider of Carrier Ethernet solutions until its
sale to Ciena Corporation. Following the sale, Mr. Frey served as Ciena’s Sr.
Vice President of Business Development. Mr. Frey has also held strategic
positions at Data Base, Inc. and Payroll Online and worked as an auditor at
Price Waterhouse early in his career. Mr. Frey holds a BS degree in accounting
from Santa Clara University.

Kenneth H. Traub has over 20 years of senior management, corporate governance,
turnaround, and transaction experience with various public and private
companies. He is the President and Chief Executive Officer of Ethos Management
LLC, which specializes in investing in and advising undervalued companies to
execute strategies to build and unlock stockholder value, a position he has
held since January 2009. Prior to this role, he was President and Chief
Executive Officer of American Bank Note Holographics, Inc. (ABNH), a leading
global supplier of optical security devices, and under his leadership ABNH
shareholders achieved a gain exceeding 1000%. Mr. Traub managed the
turnaround, growth and sale of ABNH to JDS Uniphase Corp. (JDSU) and served as
a Vice President of JDSU following the acquisition. He was also the co-founder
and Executive Vice President and CFO of Voxware, Inc., a pioneer in VoIP
communication technologies and was a Vice President at Trans-Resources, Inc.,
a multinational holding company and investment manager. Mr. Traub currently
serves on the boards of directors of MRV Communications, Inc. (OTCQB: MRVC),
of which he is currently Chairman; iPass, Inc. (Nasdaq: IPAS); DSP Group, Inc.
(Nasdaq: DSPG); and Athersys, Inc. (Nasdaq: ATHX). Mr. Traub also serves as
Chairman of the Board of privately-held Omnego, Inc. Mr. Traub received a BA
degree from Emory College and an MBA from Harvard Business School.

About Vitesse

Vitesse (Nasdaq: VTSS) designs a diverse portfolio of high-performance
semiconductor solutions for Carrier and Enterprise networks worldwide. Vitesse
products enable the fastest-growing network infrastructure markets including
Mobile Access/IP Edge, Cloud Computing and SMB/SME Enterprise Networking.
Visit www.vitesse.com or follow us on Twitter @VitesseSemi.

Vitesse is a registered trademark of Vitesse Semiconductor Corporation in the
United States and other jurisdictions. All other trademarks or registered
trademarks mentioned herein are the property of their respective holders.

VTSS-F

Contact:

Company Contact:
Vitesse Semiconductor
Marty McDermut
+1.805.388.3700
invest@vitesse.com
or
Agency Contact:
LHA
Cathy Mattison
+1.415.433.3777
VTSS@lhai.com
 
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