UTStarcom Appoints New Independent Director to the Board
HONG KONG, Nov. 14, 2014 (GLOBE NEWSWIRE) -- UTStarcom (Nasdaq:UTSI), a global telecommunications infrastructure provider, announced today that its Board of Directors has appointed Mr. Tetsuzo Matsumoto as a new independent director of the Company, effective November 12, 2014.
Mr. Matsumoto brings more than 50 years of business and management expertise to the Board of Directors. He is currently a Senior Advisor to Softbank Mobile Corp. and the CEO of Japan Link Corp., a leading consultancy to corporates, carriers and operators worldwide.
Throughout his extensive career, Mr. Matsumoto has served as a board director and Chief Strategy Officer of Softbank Mobile. He also represented the company on the board of GSMA ("Global System for Mobile Communications Alliance") for over five years. Before joining Softbank he served at Qualcomm Inc for more than eight years, as the President and Chairman of Qualcomm Japan, as well as Senior VP of Qualcomm HQ in San Diego. Mr. Matsumoto started his career with the Japanese conglomerate Itochu Corporation working in various positions in the US and Japan. He received a Bachelor of Law degree from Kyoto University in 1962 and is currently a Special Visiting Professor at the Graduate School of Global Business at Meiji University, Japan.
Mr. Himanshu Shah, Chairman of UTStarcom's Board of Directors, stated, "On behalf of the Board of Directors, I am delighted to welcome Mr. Matsumoto to UTStarcom. Mr. Matsumoto will bring a wealth of experience and global industry insight in his role as an independent director of the board. We look forward to his many contributions as we continue our aggressive business transformation that we have been focused on executing. With the addition of Mr. Matsumoto, our Board now comprises a diverse mix of nationalities which reflects our global aspirations."
Mr. Matsumoto commented on his appointment, "I am currently working with many of the world's leading wireless broadband alliance operators, advising them on how to take full advantage of the ongoing paradigm shift from mobile phone to mobile internet. As I look at the industry as a whole, I believe that UTStarcom can play a leading role in this shift within the industry through the development of such innovative telecommunications solutions. I look forward to working with UTStarcom as it realizes its potential as a leading global telecommunications infrastructure provider."
This addition brings the total number of directors to seven, including five independent directors. The Board is made up of a diverse mix of nationalities, with three from the US, two from China, one from Canada and now one member from Japan.
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 Hong Kong; Tokyo, Japan; San Jose, USA; Delhi and Bangalore, India; Hangzhou, China. For more information about UTStarcom, please visit http://www.utstar.com.
CONTACT: For investor and media inquiries, please contact: Jane Zuo UTStarcom Holdings Corp. Tel: +852-3750-7632 Email: email@example.com Daniel DelRe (Hong Kong) Tel: +852-3768-4547 Email: Daniel.DelRe@fticonsulting.com Simona Kormanikova (New York) +1-212-850-5685 Email: Simona.Kormanikova@fticonsulting.com May Shen (Beijing) Tel: +86-10-8591-1951 Email: May.Shen@fticonsulting.com