UTStarcom Introduces Peter Blackmore as New Chief Operating Officer
ALAMEDA, Calif., June 28 /PRNewswire-FirstCall/ -- UTStarcom, Inc.
(Nasdaq: UTSI), a global leader in IP-based, end-to-end networking solutions
and services, today announced that
Peter Blackmore, formerly an executive vice
president at Unisys Corporation, has joined the company as its new president
and chief operating officer, effective July 2, 2007.
In his new role as president and chief operating officer at UTStarcom,
International Sales, Marketing & Services, Global Supply Chain, IT and
officer at UTStarcom, Inc.
'Peter brings a wealth of experience leading operations, sales and service
organizations at several multinational FORTUNE 500 companies,' Lu said. 'Our
expectation is for Peter to ultimately succeed me as a chief executive
officer. We expect that this transition will take place within the next year,
at the discretion of the board of directors, as Peter gradually takes on more
responsibilities in running the company.'
'Following this transition period, I intend to assume the executive
chairman position of the UTStarcom Board of Directors,' Lu added. 'In this
role, I would continue to be an officer of the company on a full-time basis
with my primary focus being UTStarcom's corporate strategy, technology and
customer relationships. It is also our intention that Thomas J. Toy, current
chairman of UTStarcom's Board of Directors, would step down from his role
while remaining on the board as Lead Independent Director.'
vice president in charge of worldwide sales, marketing and technology since
2005. Prior to joining Unisys in 2005, he was with Hewlett-Packard Company, a
global technology solutions provider, serving as executive vice president of
the Customer Solutions Group (2004) and executive vice president of the
Enterprise Systems Group (2002-2004). From 1991 until its acquisition by
Hewlett-Packard in 2002, Blackmore was with Compaq Computer Corporation,
serving in a number of senior management positions, most recently as executive
vice president of worldwide sales and services (2000-2002).
foreseeing the trends that will drive the telecom and networking industry,'
Blackmore said. 'I believe my extensive operational experience at some of the
leading global technology companies, coupled with Hong's unique abilities as a
technology visionary, will be a powerful leadership combination to drive
UTStarcom's future success.'
About UTStarcom, Inc.
UTStarcom is a global leader in IP-based, end-to-end networking solutions
and international service and support. The company sells its broadband,
wireless, and handset solutions to operators in both emerging and established
telecommunications markets around the world. UTStarcom enables its customers
to rapidly deploy revenue-generating access services using their existing
infrastructure, while providing a migration path to cost-efficient, end-to-end
IP networks. Founded in 1991 and headquartered in Alameda, California, the
company has research and development operations in the
company's Web site at http://www.utstar.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
The statements contained in this press release that are not purely
historical are forward-looking statements within the meaning of Section 21E of
the Securities and Exchange Act of 1934, as amended, including statements
regarding UTStarcom's expectations, beliefs, intentions or strategies
regarding the future and including, without limitation, whether
succeed to the chief executive officer position within the next year, and the
future roles of Messrs. Lu and Toy within UTStarcom.
All forward-looking statements included in this document are based upon
information available to UTStarcom as of the date hereof, and UTStarcom
assumes no obligation to update any such forward-looking statements. Forward-
looking statements involve risks and uncertainties, which could cause actual
results to differ materially from those projected. These risks and other risks
relating to UTStarcom's business are set forth in the documents filed by
UTStarcom with the Securities and Exchange Commission, specifically its most
recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K, and amendments thereto.
SOURCE UTStarcom, Inc.