UTStarcom Announces Change to Board Composition
HONG KONG, March 13, 2015 — UTStarcom (NASDAQ: UTSI), a global telecommunications infrastructure provider, announced today the resignation of a member of its board of directors.
Mr. LinzhenXie has resigned from the board, effective March11, 2015. Mr. Xie has served as an independent director since December 2010.
As part of its initiative to streamline the Company’s corporate governance structure and improve the efficiency of the board, the Company does not intend to fill the vacancy left by this resignation. The board of directors going forward will consist of six directors, including four independent directors.
About UTStarcom Holdings Corp.
UTStarcom (NASDAQ: UTSI) is a global telecom infrastructure provider dedicated to developing technology that will serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming and other applications. We work with carriers globally, from Asia to the Americas, to meet this demand through a range of innovative broadband packet optical transport and wireless/fixed-line access products and solutions. The company’s end-to-end broadband product portfolio, enhanced through in-house Software Defined Networking (SDN)-based orchestration, enables mobile and fixed-line network operators and enterprises worldwide to build highly efficient and resilient future-proof networks for a range of applications, including mobile backhaul, metro aggregation, broadband access and Wi-Fi data offload. Our strategic investments in media operational support service providers expand UTStarcom’s capabilities in the field of next generation video platforms. UTStarcom was founded in 1991, started trading on NASDAQ in 2000, and has operating entities in Tokyo, Japan; San Jose, USA; Delhi and Bangalore, India; Hangzhou, China. For more information about UTStarcom, please visit http://www.utstar.com.
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UTStarcom Holdings Corp.
Joanna Jiang (Beijing)
Sean Pattwell (Hong Kong)