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Peter Blackmore Named CEO of UTStarcom Effective July 1, 2008

Updated:2008/6/10 11:03

Tags:IP | broadband

UTStarcom, Inc.(Nasdaq: UTSI), a global leader in IP-based, end-to-end networking solutionsand services, announced today that its board of directors has appointed PeterBlackmore as the company's chief executive officer, effective July 1, 2008.Blackmore also will join UTStarcom's board.

The appointment is consistent with UTStarcom's previously disclosedsuccession strategy. Blackmore, 61, succeeds Hong Liang Lu, 53, who willbecome the company's executive chairman of the board. In addition to his roleas executive chairman, Lu will focus externally as an ambassador of UTStarcom,with particular emphasis on Asia, and will analyze and recommend new businessmodel and technology strategies to enhance UTStarcom's competitive position.Lu will remain a full-time employee of the company.

In addition, UTStarcom disclosed that Thomas Toy, currently chairman ofthe board, will assume the role of lead director on July 1.

'Since joining UTStarcom in 2007, Peter has been a driving force. Underhis leadership, the company undertook a broad strategic review resulting in anew strategy that focuses on the core business areas of multimedia andbroadband and specific geographic markets with the best growth opportunities,'noted Hong Lu. 'He also enhanced internal operations and continues to drivethe company toward operational excellence. We've made significant progressagainst our stated strategy and Peter has gained the respect and admiration ofUTStarcom's 5,000 employees around the world as well as that of our keycustomers and partners. I look forward to continuing to work with Peter andthe board in my new role.'

'I am honored to assume the CEO role from Hong, one of thetelecommunications industry's true global visionaries,' said Peter Blackmore.'Over the past year, UTStarcom has made great strides, and I'm proud of thepeople and innovative technologies that made our successes possible. As wecontinue to focus on executing our strategy and delivering our customers themost compelling solutions available, we'll fully realize our excellentpotential.'

Blackmore joined UTStarcom as president and chief operating officer fromUnisys, where he served as executive vice president in charge of worldwidesales, marketing and technology since 2005. Prior to Unisys, he was withHewlett-Packard Company, a global technology solutions provider, serving asexecutive vice president of the Customer Solutions Group (2004) and executivevice president of the Enterprise Systems Group (2002-2004). From 1991 untilits acquisition by Hewlett-Packard in 2002, Blackmore was with Compaq ComputerCorporation, serving in a number of senior management positions, most recentlyas executive vice president of worldwide sales and services (2000-2002).

Lu, a Taiwan China-born, US-educated (Berkeley) entrepreneur, foundedUTStarcom in 1991 as Unitech Telecom, focusing on the telecommunicationsmarket in China. In 1995, Unitech merged with Starcom Networks to formUTStarcom. Under Lu's leadership, UTStarcom launched the Personal AccessSystem (PAS), a low-cost wireless alternative with more than 50 millionsubscribers in China. As the first large-scale deployment of affordablecellular technology in rural China, PAS is a widely known and respectedtechnology in the telecommunications industry. Also during Lu's tenure,UTStarcom went public in March 2000, and then made a series of acquisitionsexpanding its business and technology beyond its base in China to otherdeveloping economies in Asia and Latin America as well as to Japan, the UnitedStates and Europe. UTStarcom acquired several companies to expand itstechnology portfolio and market opportunities in areas such as broadband andIP-based communications.

About UTStarcom, Inc. UTStarcom is a global leader in IP-based, end-to-endnetworking solutions and international service and support. The company sellsits broadband, wireless, and handset solutions to operators in both emergingand established telecommunications markets around the world. UTStarcom enablesits customers to rapidly deploy revenue-generating access services using theirexisting infrastructure, while providing a migration path to cost-efficient,end-to-end IP networks. Founded in 1991 and headquartered in Alameda,California, the company has research and development operations in the UnitedStates, Canada, China, Korea and India. For more information about UTStarcom,visit the company's Web site at http://www.utstar.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaningof Section 27A of the Securities Act of 1933, as amended, and Section 21E ofthe Securities Exchange Act of 1934, as amended, regarding UTStarcom's futurestrategy, including statements regarding the company's geographic marketsproviding the best growth opportunities and delivering the company's customersthe most compelling solutions available. These statements are forward-lookingin nature and subject to risks and uncertainties that may cause actual resultsto differ materially. Factors that could cause actual results to differmaterially 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; risksassociated with delays in product development or customer acceptance andimplementation of new products and technologies. Please also refer toUTStarcom's periodic reports that are filed from time to time with theSecurities and Exchange Commission, including our latest Annual Report on Form10-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, updatethese forward-looking statements.


Source: PR Newswire

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