Peter Blackmore Named CEO of UTStarcom Effective July 1, 2008
ALAMEDA, Calif., June 9 /PRNewswire-FirstCall/ -- UTStarcom, Inc.
(Nasdaq: UTSI), a global leader in IP-based, end-to-end networking solutions
and services, announced today that its board of directors has appointed
Blackmore as the company's chief executive officer, effective July 1, 2008.
Blackmore also will join UTStarcom's board.
Hong Liang Lu to Assume Executive Chairman Role
The appointment is consistent with UTStarcom's previously disclosed
succession strategy. Blackmore, 61, succeeds
become the company's executive chairman of the board. In addition to his role
as executive chairman, Lu will focus externally as an ambassador of UTStarcom,
with particular emphasis on
model and technology strategies to enhance UTStarcom's competitive position.
Lu will remain a full-time employee of the company.
In addition, UTStarcom disclosed that
the board, will assume the role of lead director on
'Since joining UTStarcom in 2007, Peter has been a driving force. Under
his leadership, the company undertook a broad strategic review resulting in a
new strategy that focuses on the core business areas of multimedia and
broadband and specific geographic markets with the best growth opportunities,'
the company toward operational excellence. We've made significant progress
against our stated strategy and Peter has gained the respect and admiration of
UTStarcom's 5,000 employees around the world as well as that of our key
customers and partners. I look forward to continuing to work with Peter and
the board in my new role.'
'I am honored to assume the CEO role from Hong, one of the
telecommunications industry's true global visionaries,' said
'Over the past year, UTStarcom has made great strides, and I'm proud of the
people and innovative technologies that made our successes possible. As we
continue to focus on executing our strategy and delivering our customers the
most compelling solutions available, we'll fully realize our excellent
Blackmore joined UTStarcom as president and chief operating officer from
Unisys, where he served as executive vice president in charge of worldwide
sales, marketing and technology since 2005. Prior to Unisys, 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).
Lu, a Taiwan China-born, US-educated (
UTStarcom in 1991 as Unitech Telecom, focusing on the telecommunications
UTStarcom. Under Lu's leadership, UTStarcom launched the Personal Access
System (PAS), a low-cost wireless alternative with more than 50 million
cellular technology in rural
technology in the telecommunications industry. Also during Lu's tenure,
UTStarcom went public in
expanding its business and technology beyond its base in
developing economies in
technology portfolio and market opportunities in areas such as broadband and
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
visit the company's Web site at http://www.utstar.com.
This press release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, regarding UTStarcom's future
strategy, including statements regarding the company's geographic markets
providing the best growth opportunities and delivering the company's customers
the most compelling solutions available. These statements are forward-looking
in nature and subject to risks and uncertainties that may cause actual results
to differ materially. Factors that could cause actual results to differ
materially from those contained in our forward-looking statements include:
increased competition; economic issues in the identified geographic markets;
failure to rapidly and successfully develop and introduce new products; risks
associated with delays in product development or customer acceptance and
implementation of new products and technologies. Please also refer to
UTStarcom's periodic reports that are filed from time to time with the
Securities and Exchange Commission, including our latest Annual Report on Form
10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
UTStarcom assumes no obligation to, and does not currently intend to, update
these forward-looking statements.
SOURCE UTStarcom, Inc.