Powerwave Technologies Founder Alfonso G. Cordero Announces Year-End Retirement and Named Chairman Emeritus; John L. Clendenin to Become Chairman.IRVINE, Calif.--(BUSINESS WIRE)--Dec. 23, 1998--Powerwave Technologies Inc. (Nasdaq:PWAV) Wednesday announced that its Founder and Chairman, Alfonso G. Cordero, will retire as chairman of the board at the end of Fiscal 1998. Cordero will become chairman emeritus of the board of directors and existing director John L. Clendenin will become non-executive chairman of the board of directors. Cordero will continue as a non-employee director of Powerwave Technologies. "Over the almost 14 years during which I have participated in helping Powerwave become a major force in the RF amplifier marketplace, my goal has been to establish a strong and healthy company which could continue to grow and meet the many challenges in the wireless marketplace. Now that we've established a strong company and board of directors, I look forward to having an industry veteran such as John take a more active role on the board and help lead the company into the next century," stated Cordero. "I am extremely excited about the opportunities ahead for Powerwave," stated Clendenin, member of the board of directors of Powerwave Technologies. "Al has helped to establish a strong company in the wireless communications wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. infrastructure business and I look forward to working with the management team to further capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our market position." Cordero has served as a director since the company's inception in January 1985. From June 1985 to February 1996, Cordero served as chief executive officer of Powerwave and chairman of the board of directors until December 1998. Cordero also serves on the board of directors of ComSpace Corporation. Clendenin has over 40 years of experience in the global communications industry communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. . He is chairman emeritus of BellSouth Corporation and served as chairman of the board until Dec. 31, 1997, and as president and chief executive officer from 1984 until his retirement at the end of 1996. Prior to BellSouth, Clendenin was president of Southern Bell from April 1981 to December 1983. Clendenin is the past chairman of the U.S. Chamber of Commerce The U.S. Chamber of Commerce is the world's largest not-for-profit federation of businesses, representing more than 3 million businesses and organizations in the United States. As of 2003, the chamber was comprised of 3000 state and local chambers and 830 business associations. , and the National Alliance of Business and is the past national president of the Boy Scouts of America The national president of the Boy Scouts of America is the leading volunteer of the Executive Board of the National Council of the Boy Scouts of America. The position is comparable to the chairman of a board of directors. 2006–present William F. and past chairman of the National Junior Achievement Board. Clendenin also serves as a director of Coca-Cola Enterprises Coca-Cola Enterprises NYSE: CCE is the largest bottler by volume in the Coca-Cola System. It is the anchor bottler for North America and parts of Europe. The company is the bottler of Coca-Cola and its other soft drink products, and in some areas a few other soft drink Inc., The Kroger Company, The Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box Inc., and several other corporations. Company Background Powerwave Technologies, an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 quality certified company, is a leading supplier of high performance RF power amplifiers An RF power amplifier is a type of electronic amplifier used to convert a low-power radio-frequency signal into a larger signal of significant power, typically for driving the antenna of a transmitter. for use in wireless communications networks. Powerwave designs, manufactures and markets both single carrier and multi-carrier amplifiers, with a primary focus on multi-carrier amplifiers. Powerwave's products are utilized in both cellular and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. base stations in both digital and analog networks. Powerwave also produces RF power amplifiers for the land mobile radio market and the wireless local loop market. Powerwave recently announced the completion of the acquisition of Hewlett-Packard Company's RF power amplifier business, which is focused on the design and manufacture of single carrier RF power amplifiers for wireless communications. Powerwave Corporate headquarters are located at 2026 McGaw Avenue, Irvine, Calif. 92614. Telephone 949/757-0530. For more information on Powerwave's high performance ultra-linear RF power amplifiers and amplifier systems, call 888/PWR-WAVE (797-9283) or visit the company's Web site at http://www.POWERWAVE.com. |
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