Prior to joining the company, Busch (40) served in senior leadership positions at Mindspeed Technologies (
Since 1990, Busch has worked in the networking communications industry. His experience includes business development roles at Analog Devices (ADI) as well as roles in engineering, sales, marketing and general management at Digital Equipment Corporation (DEC), Intel (INTC), and two start-ups.
He earned a bachelor's degree in electrical and computer engineering and a bachelor's degree in biological science from the University of California at Irvine. In 1998, Busch completed an MBA from Santa Clara University.
"Kurt's more than 20 years of progressive and successful technology industry leadership makes him the ideal candidate to lead Lantronix at this time," said Thomas Wittenschlaeger, Lantronix Chairman. "The entire Board of Directors and I feel fortunate to have identified and recruited so quickly a highly qualified candidate who has the broad and current experience in device networking, product management, technological innovation and corporate development."
"Our shareholders clearly appreciate how important focus, dedication and executive leadership are to the success of Lantronix, and why the Board has concentrated such efforts on a rapid and decisive realignment thereof," continued Wittenschlaeger. "The reduction in size and cost of the board, the appointment of proven technology leadership and a renewed commitment to innovation and execution on matters ranging from product evolution to IP to market execution all represent a refocus aimed towards reasserting and growing Lantronix' competitive advantage as a leader in the device networking marketplace."
"With a well-established reputation in the device networking solutions market, a strong global distribution channel and world-class engineering team, I believe that Lantronix represents a tremendous opportunity," said Busch. "My focus will be on leveraging the company's core assets to grow Lantronix's market share in the expanding M2M space and deliver improved value to our shareholders."
Lantronix, Inc. (
This news release contains forward-looking statements, including statements concerning our future business plans. These forward-looking statements are based on current management and board expectations and are subject to risks and uncertainties that could cause actual reported results and outcomes to differ materially from those expressed in the forward-looking statements. Factors that could cause our expectations and reported results to vary, include, but are not limited to: our ability to identify and profitably develop new products that will be attractive to our target markets, including products in our device networking business and the timing and success of new product introductions; changing market conditions and competitive landscape; market acceptance of our products by our customers; pricing trends; future revenues and margins; unusual or unexpected expenses; ability to retain management personnel; and cash usage including cash used for product development or strategic transactions; and other factors that may affect financial performance. For a more detailed discussion of these and other risks and uncertainties, see our SEC filings, including our Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 and our Annual Report on Form 10-K for the year ended June 30, 2010. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.
Company Contact: Jim Kerrigan Interim CFO Lantronix Email Contact Tel 949-453-3990