Conexant Announces Senior Management Team for New Internet Infrastructure Company
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Nov. 8, 2000--
Dwight W. Decker To Be Non-Executive Chairman; Raouf Halim Appointed CEO; Bala Iyer To Serve As CFO
Conexant Systems, Inc. (Nasdaq:CNXT) Wednesday announced several key appointments to the senior management team for the new Internet infrastructure company, targeted for an initial public offering in January 2001.
Dwight W. Decker will be the non-executive chairman of the board of directors of the new company and will continue as Conexant's chairman and chief executive officer. Raouf Y. Halim, currently senior vice president and general manager of Conexant's Network Access Division, will serve as chief executive officer and will be a member of the board of the new company.
Conexant Chief Financial Officer Balakrishnan S. Iyer will become senior vice president and chief financial officer at the new company and will also join the board. Other members of the senior management team will be announced as the company moves toward its initial public offering. The new name for the Internet infrastructure company will be announced at a later date.
Decker joined Conexant's predecessor, Rockwell Semiconductor Systems, in 1989 and was president of the division before being appointed chairman and chief executive officer of Conexant in November 1998. Rockwell's semiconductor systems business was spun off as Conexant in January 1999. Decker received his bachelor's degree in mathematics and physics from McGill University and his doctorate in applied mathematics from the California Institute of Technology.
Halim joined Rockwell Semiconductor Systems in 1991 and has held a variety of engineering management positions. He assumed his current role with Conexant in January 1997. Previously, he spent six years with Hayes Microcomputer Products where he was responsible for advanced data communications product definition and development of custom VLSI circuits.
He obtained a bachelor's degree in communications and electrophysics from the University of Alexandria, Egypt, and earned a master's degree in electrical engineering from Georgia Tech.
Iyer joined Conexant in November 1998 as senior vice president and chief financial officer. Prior to that, he was senior vice president and chief financial officer for VLSI Technology. He also held key financial management positions at Cypress Semiconductor and AMD.
Iyer holds several degrees: a bachelor's in mechanical engineering from the Indian Institute of Technology; a master's in industrial engineering from the University of California, Berkeley; and a master's in business administration from the University of Pennsylvania's Wharton School of Business.
The Internet infrastructure company, to be comprised of Conexant's Network Access Division, will focus on providing complete semiconductor and software solutions for manufacturers of Internet infrastructure equipment.
About Conexant Systems, Inc.
With revenues of $2.1 billion in fis al 2000, Conexant is the world's largest independent company focused exclusively on providing semiconductor solutions for communications electronics.
With more than 30 years of experience in developing communications technology, the company draws upon its expertise in mixed-signal processing 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, personal imaging devices and equipment, and emerging cable and wireless broadband communications networks.
The company organizes its activities into two business areas: Internet infrastructure, which consists of the Network Access Division, and personal networking, comprised of the Digital Infotainment, Personal Imaging, Wireless Communications and Personal Computing divisions. Conexant is a member of the S&P 500 and Nasdaq-100 Indices.
For more information, visit Conexant at www.conexant.com.
Safe Harbor Statement
This news release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: global and market conditions, including, but not limited to, the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful implementation of the company's diversification strategy, including the announced spin-off of the Internet infrastructure business; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements 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. Other brands and names contained in this release are the property of their respective owners.
CONTACT:
Conexant Systems, Inc., Newport Beach
Scott Allen (editorial), 949/483-6849
or
Mike Cortright (investors), 949/483-2698
KEYWORD: CALIFORNIA
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