Microsemi Announces Board Changes
IRVINE, Calif.--(BUSINESS WIRE)--May 29, 2002--Microsemi Corp. (Nasdaq:MSCC - News), today announced changes to its board of directors.
Nick E. Yocca has been elected to the board of directors for Microsemi. Yocca has served as counsel to the company since 1988. He is currently president and co-founder of the well-known law firm of Stradling, Yocca, Carlson and Rauth of Newport Beach, Calif.
Yocca is nationally recognized and has served a range of emerging growth to Fortune 500 companies in corporate and securities law matters for many years.
In commenting on Yocca's election, James J. Peterson, CEO and president of Microsemi, stated, "His value to Microsemi will be enormous in terms of experience in both legal as well as business matters."
The company also announced that Dennis R. Leibel has also joined the Microsemi board. Leibel has held various senior management positions which include, among others, vice president finance of Smith International Inc. and senior vice president of AST Research Inc. He is also a member of the New York State Bar and is a CPA.
In commenting on Leibel's election to the board, Peterson stated: "I've known him for a number of years and have found him to be an insightful and valued associate. He will make a significant contribution to our board of directors."
Finally, Microsemi announced that Carmelo J. Santoro has resigned from its board, due to a sudden change in his personal circumstances. Peterson stated that, "Although Carm is resigning, he has been a mentor to me for many years and that relationship will never cease."
About Microsemi
Microsemi is a leading designer, manufacturer and marketer of analog, mixed-signal and discrete semiconductors. The company's semiconductors manage and regulate power, protect against transient voltage spikes and transmit, receive and amplify signals.
Microsemi products include individual components as well as complete circuit solutions that enhance customer designs by providing battery optimization, reducing size or protecting circuits. Markets the company serves include mobile connectivity, computer/peripherals, telecommunications, medical, industrial/commercial, space/satellite and military.
More information may be obtained by contacting the company directly or by visiting its Web site at microsemi.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in the news release that are not entirely historical and factual in nature are forward-looking statements. For instance, all statements of belief and expectations are forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Potential risks and uncertainties include, but are not limited to, such factors as the difficulties regarding the making of estimates and projections, hiring and retention of qualified technical personnel in a competitive labor market, acquiring and integrating new operations or assets, closing or disposing of operations or assets, rapidly changing technology and product obsolescence, the ability to realize cost savings or productivity gains, the ability to improve capacity utilization, potential cost increases, the strength and competitive pricing environment of the marketplace, demand for and acceptance of the company's products, the results of in-process or planned development, marketing and promotional campaigns, changes in demand for products, difficulties foreseeing future demand, effects of limited visibility of future sales, potential non-realization of expected orders or non-realization of backlog, business and economic conditions or adverse changes in current or expected industry conditions, business disruptions, future effects of the tragic events of Sept. 11, customer order preferences, fluctuations in market prices of the company's common stock and availability of additional capital on favorable terms, difficulties in implementing company strategies, environmental matters, litigation, difficulties protecting patents and other proprietary rights, inventory obsolescence. In addition to these factors and any other factors mentioned elsewhere in this news release, the reader should refer as well to the factors, uncertainties or risks identified in the company's most recent Form 10-K filed on Dec. 24, 2001, the Form 10-Q filed on Feb. 13, 2002 and May 10, 2002, and the final prospectus on Form S-3 filed on June 1, 2000, each filed by the company with the Securities and Exchange Commission. The company does not undertake to supplement or correct any information in this release that is or becomes incorrect.
--------------------------------------------------------------------------------
Contact:
Microsemi Corp., Irvine
David R. Sonksen (financial), 949/221-7101
or
Cliff Silver (editorial), 949/221-7112 |
