Conexant Names Michael Cortright Vice President of Investor Relations for Semiconductor Spin-off.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Dec. 7, 1998--Conexant Systems Inc. Monday announced that Michael Cortright has been named vice president of investor relations for this independent company that will be created when Rockwell spins off its semiconductor business to shareowners at the end of December.

Cortright was previously director of business development for Rockwell Semiconductor Systems (RSS). In his new post, he will be responsible for communications with financial analysts and Conexant's shareowners. He joins a newly created financial and investor-relations team that reports to Bala Iyer, who in October was named senior vice president and chief financial officer for the new company. Other members of the team are Kerry K. Petry, vice president and treasurer, and Steven M. Thomson, vice president and controller. Petry was previously assistant treasurer for domestic operations for Rockwell, and Thomson was RSS's director of financial planning and control. Also joining the team is Randy Levan, as tax director.

Cortright joined Rockwell in 1973. In his most recent post with RSS he was involved with strategic investments, business planning and venture analysis, and served as the principal interface with industry consultants and the investment community. Prior to that, he was director of corporate development for Rockwell, where he assisted senior management with business strategy development, analyzed investment opportunities, acquisitions, alliances and divestitures, and maintained contact with the investment banking community. Earlier positions with the company spanned a variety of areas including strategic planning and investments, venture analysis, financial management, operations analysis, and contracts analysis and management.

"Mike has been an important contributor for Rockwell and our semiconductor systems business for many years," said Dwight Decker, who is currently president of Rockwell Semiconductor Systems and will be chief executive officer for the new company when the spin-off is complete. "He has been closely involved with all aspects of Rockwell Semiconductor Systems' key strategic diversification initiatives and spin-off preparations, and brings valuable insight and experience to his new post."

Cortright received a master's degree in international management from the American Graduate School of International Management. He also received a bachelor of science degree in economics from Pepperdine University.

On June 29, 1998 Rockwell International Corp. announced that Rockwell Semiconductor Systems, a wholly owned subsidiary with $1.2 billion in revenues, would be spun off as a separately-traded public company. In preparation for the spin-off, Rockwell in November re-named its semiconductor business Conexant Systems Incorporated. After the spin-off, which is expected to be completed on December 31, 1998, Conexant will be the world's largest independent company focused exclusively on providing semiconductor products for communications electronics. With more than 30 years of experience in developing analog modem technology, the company leverages its expertise in mixed-signal processing and communications technology to deliver integrated systems and semiconductor products for a broad range of communications applications. These products facilitate communications worldwide through wireline voice and data communications networks, cordless and cellular wireless telephony systems, and emerging cable and wireless broadband communications networks. The company aligns its business into five product platforms: Personal Computing, Personal Imaging, Wireless Communications, Digital Infotainment and Network Access.

Rockwell is a global electronic controls and communications company with leadership positions in industrial automation, avionics and communications, and electronic commerce. Rockwell's continuing businesses had fiscal 1998 sales of approximately $7 billion and 41,000 employees.