IDT Names Clyde R. Hosein Vice President and Chief Financial Officer
Tuesday February 25, 7:45 am ET
SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 25, 2003--IDT(TM) (Integrated Device Technology, Inc.; Nasdaq: IDTI), a leading communications IC company, today announced that Clyde R. Hosein will join IDT on March 17 as vice president and chief financial officer (CFO). As CFO, Hosein will oversee the finance, investor relations, tax, legal, information technology and human resource organizations within the company.
"Clyde has extensive experience managing financial operations, directing merger and acquisition activities, and developing investor relations programs. He has also demonstrated an ability to develop and execute sound financial plans in the midst of one of the most difficult downturns in the semiconductor industry," said Greg Lang, president and CEO of IDT. "He will be a great complement to the IDT management team as we strive to return to profitability and continue our leadership in packet-processing solutions."
Hosein, 43, joins IDT from Advanced Interconnect Technologies (AIT), a semiconductor assembly and test company, where he served as CFO and senior vice president of finance and administration. As part of managing the finance operations at AIT, Hosein led the company's cost-reduction activities, developed the financial infrastructure and directed investor relations activities. He was responsible for the finance and reporting, legal, information technology, human resources and administration functions. Prior to AIT, Hosein held senior-level financial positions, including the role of CFO, at Candescent Technologies Corporation. He also spent 14 years in financial and engineering roles at IBM Corporation, most recently as the manufacturing controller for the IBM Storage Systems Division where he developed and implemented strategies to improve the financial performance of the division. He managed a worldwide team and drove cost and asset management improvements, investments for capacity expansions, currency management, business controls, and financial reporting. Hosein holds a bachelor of science degree in industrial engineering from Polytechnic University in New York and a masters degree in business administration in finance and international business from New York University Stern School of Business.
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, content inspection engines 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 leading communications companies.
Headquartered in Santa Clara, Calif., the company employs approximately 3,200 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 of Integrated Device Technology, Inc. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
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Contact:
Integrated Device Technology, Inc.
Diana Pailthorpe, 408/492-8210
diana.pailthorpe@idt.com
or
Porter Novelli
Ricky Gradwohl, 408/369-1500 x31
ricky.gradwohl@porternovelli.com
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Source: Integrated Device Technology, Inc. |
