Greg Lang Joins IDT Board of Directors
Wednesday January 22, 7:45 am ET
Completes Transition to CEO
Former CEO Jerry Taylor Continues to Serve on IDT Board of Directors
SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 22, 2003--IDT(TM) (Integrated Device Technology, Inc.)(Nasdaq: IDTI - News), a leading communications IC company, today announced the appointment of IDT President and Chief Executive Officer Gregory Lang to the company's board of directors. IDT also announced the completion of its CEO transition plans, originally introduced last July, and confirmed that Lang had completed the formal transition on January 1, 2003 to become the company's new CEO, succeeding Jerry Taylor. Lang, who joined the company as president at the end of 2001 to oversee all product businesses, technology, marketing and sales functions, played a critical role in directing the company's innovation to meet the specific requirements of its communications customers. Former CEO Jerry Taylor, a 30-year semiconductor industry veteran, will continue to serve on the company's board of directors.
"Jerry Taylor provided IDT with strong leadership and insight during the past three years as CEO. With the announcement of Jerry's decision last year to retire from IDT, we took progressive steps to consolidate our president and CEO roles under the capable guidance of Greg Lang, a recognized leader in the electronics industry," said Federico Faggin, chairman of the board of directors of IDT. "As president, Greg has already strengthened our strategic planning process and has driven our long-term business plans. In his expanded role on the board and as president and CEO, we will look to him to drive the company to become an even larger contributor in the communications IC market."
Prior to joining IDT, Lang was vice president and general manager of the Platform Networking Group at Intel Corporation. During his 15-year tenure at Intel, Lang was instrumental in starting six communications businesses and driving the company to become the leading supplier of Fast Ethernet and Gigabit Ethernet connections for servers, desktop and notebook computers. He also managed divisions responsible for wireless LAN, storage I/O processing and home networking solutions. Lang, 39, earned a bachelor's degree in business administration from the University of Michigan and received his master's degree in business administration from Washington State University.
About IDT
IDT enhances the global network with semiconductor solutions for communications companies that lead innovation and drive convergence in voice, data and wireless networks. IDT is focused on enhancing system bandwidth with communications-specific products including network search engines, classification and content inspection processors and integrated communications processors. The portfolio is also comprised of products optimized for communications applications, including telecom products, FIFOs, multi-ports, and clock management products. In addition, the product mix includes high-performance digital logic and high-speed SRAMs to meet the requirements of communications systems.
Headquartered in Santa Clara, Calif., the company employs approximately 3,300 people worldwide and has a wafer manufacturing facility in Oregon, and test and assembly facilities in the Philippines and Malaysia. IDT stock is traded on the Nasdaq stock market under the symbol "IDTI." The company is included in the S&P 1000, which is a combination of the S&P MidCap 400 and S&P SmallCap 600 Indices. Additional information about IDT is easily accessible at www.idt.com. The investor hotline is (408) 654-6420.
IDT is a trademark and the IDT logo is a registered trademark of Integrated Device Technology, Inc. All other trademarks mentioned are the property of their respective owners.
--------------------------------------------------------------------------------
Contact:
IDT Corporate Communications
Diana Pailthorpe, 408/492-8210
diana.pailthorpe@idt.com
or
Porter Novelli
Ricky Gradwohl, 408/369-1500 x31
ricky.gradwohl@porternovelli.com |
