Printer Friendly

Mindspeed Appoints Ryan Latchman as Executive Director, Strategic Marketing, High-Performance Analog.

NEWPORT BEACH, Calif. -- Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that the compensation and management development committee of its board of directors granted Ryan Latchman, the company's new executive director, strategic marketing within its high-performance analog (HPA) business unit, an award of stock options for 15,000 shares of Mindspeed common stock, and an award of 7,500 shares of restricted stock. The stock options will vest 25% on each one year anniversary of the grant date and have an exercise price of $7.08, which was the closing price of Mindspeed's common stock on the date of grant. The stock option grant has an expiration date of January 21, 2019. The restricted stock grant will vest 25% on January 31, 2012 and 25% each one year anniversary thereafter.

Mr. Latchman joins Mindspeed from Gennum Corporation, where he was director of applications for the analog and mixed signals (AMS) division. At Gennum, he led a team responsible for customer design-in support, validating semiconductor solutions against market requirements, developing reference designs and providing input for new product development. With more than a decade of experience in the analog sector, Mr. Latchman held a series of increasingly senior marketing and product management positions at Gennum and represented the company as a key contributor to the IEEE 802.3ba 40Gb/s and 100Gb/s Ethernet Standard and 16G Fibre Channel FC-PI-5 Standard.

Mr. Latchman received a bachelor's degree in electrical engineering and management from McMaster University, a master's degree in engineering from The University of Toronto and a master's degree in business administration from The Rotman School of Management.

"With a powerful combination of business and engineering experience in the analog sector, Ryan is a great addition to the Mindspeed team," said Kurt F. Busch, senior vice president and general manager of Mindspeed's HPA business unit. "We believe Ryan will be instrumental in identifying market opportunities, defining new products, supporting our customer base and driving new customer relationships."

Mindspeed's compensation and management development committee, which is comprised solely of independent directors, approved the grant of stock options and shares of restricted stock pursuant to stand-alone option and restricted stock agreements and in accordance with NASDAQ Listing Rule 5635(c)(4).

About Mindspeed Technologies

Mindspeed designs, develops and sells semiconductor solutions for communications applications in the wireline and wireless network infrastructure, which includes enterprise networks, broadband access networks (fixed and mobile), and metropolitan and wide area networks. We have organized our solutions for these interrelated and rapidly converging networks into three families. Our communications convergence processing (CCP) products include ultra-low-power, multi-core digital signal processor (DSP) system-on-chip (SoC) products for the fixed and mobile (3G/4G/LTE) carrier infrastructure and residential and enterprise service platforms. Our high-performance analog (HPA) products solve difficult switching, timing and synchronization challenges in next-generation optical networking, enterprise storage and broadcast video transmission applications. Our wide area networking (WAN) communications portfolio helps optimize today's circuit-switched networks. Mindspeed's products are sold to original equipment manufacturers (OEMs) for use in a variety of network infrastructure equipment which serves these markets.

To learn more, please visit Follow Mindspeed at

Safe Harbor Statement

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. Such statements include statements regarding the company's expectations, goals or intentions, including, but not limited to, Mr. Latchman's ability to identify market opportunities, define new products, support the company's customer base and drive new customer relationships. These forward-looking statements are based on management's current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to: fluctuations in our operating results and future operating losses; worldwide political and economic uncertainties and specific conditions in the markets we address; constraints in the supply of wafers and other product components from our third-party manufacturers; fluctuations in the price of our common stock; cash requirements and terms and availability of financing; loss of or diminished demand from one or more key customers or distributors; our ability to attract and retain qualified personnel; doing business internationally and our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; pricing pressures and other competitive factors; successful development and introduction of new products; lengthy sales cycles; order and shipment uncertainty; our ability to obtain design wins and develop revenues from them; the expense of and our ability to defend our intellectual property against infringement claims by others; product defects and bugs; business acquisitions and investments; and our ability to utilize our net operating loss carryforwards and certain other tax attributes. Risks and uncertainties that could cause the company's actual results to differ from those set forth in any forward-looking statement are discussed in more detail under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the year ended October 1, 2010, as well as similar disclosures in the company's subsequent SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2011 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1U9CA
Date:Jan 27, 2011
Previous Article:Research and Markets: HNWI in Singapore Wealth Management Industry - Trends, Analysis and Forecast (2010-2015).
Next Article:CNA Receives High Honors from Intelligent Insurer Magazine.

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters