Bruce Edwards and Kurt Busch Elected to Lantronix Board of Directors
Lantronix (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."
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