26.06.2007 22:42:00
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Vitesse Elects Willow B. Shire to Board of Directors
Vitesse Semiconductor Corporation (Pink Sheets:VTSS) today announced
that its Board of Directors has elected Willow B. Shire, executive
consultant and founder of Orchard Consulting Group, as an independent
director. Ms. Shire will chair both the compensation and governance
committees of the Board. The Company also announced the resignations of
James A. Cole and Moshe Gavrielov from the Board of Directors of
Vitesse. All changes are effective June 26, 2007.
"Over the last several quarters, our
previously disclosed search for new directors has attracted exceptional
talent. We are pleased to have Willow Shire join the Vitesse Board of
Directors and look forward to the contributions she will make to the
future success of the Company,” said
Christopher R. Gardner, chief executive officer of Vitesse. "Vitesse
will benefit from Willow’s expertise in
advising Fortune 500 companies on organizational transformations and
business processes that directly correlate to corporate financial and
marketing goals. Our search continues for directors of high caliber that
bring needed expertise to the board.”
Mr. Gardner continued, "I would also like to
recognize Jim and Moshe for their dedicated service to Vitesse. Jim Cole
has been an active and contributing member of the Board since the
incorporation of the Company in 1987. As a member of the Board’s
Special Committee, Moshe Gavrielov has focused on improving our
corporate practices. In particular, I would like to recognize their
continued energy during the last year and their efforts to enable a
smooth transition with the Company’s new
director. I wish them both continued professional success.”
Ms. Shire has been an executive consultant and founder of Orchard
Consulting Group since 1994, specializing in leadership development and
strategic problem solving for Fortune 500 companies as well as fast
growing start-ups. During her professional career, she spent 20 years in
the computer industry and was featured on the cover of Fortune
magazine for her work in business transformation. She served as a vice
president and officer at Digital Equipment Corporation with
responsibility for its $1 billion healthcare market. She is currently on
the board of The TJX Companies, Inc. (NYSE:TJX) where she has led the
corporate governance committee for the last 10 years. Additionally, she
has been a presenter for board governance issues for the Board Leaders
and the National Association for Corporate Directors (NACD). Ms. Shire
holds a bachelor’s degree from Boston
University’s School of Education and a master’s
degree from Harvard School of Education. She has also completed the
International Marketing and Management Program at INSEAD in
Fontaineblueu, France and completed advanced studies in organization
design and behavior with Noel Tichy at Columbia University.
About Vitesse
Vitesse designs, develops and markets a diverse portfolio of
high-performance, cost-competitive semiconductor solutions for
communications and storage networks worldwide. Engineering excellence
and dedicated customer service distinguish Vitesse as an industry leader
in Gigabit Ethernet LAN, Ethernet-over-SONET, Fibre Channel, Serial
Attached SCSI, Optical Transport, and other applications. Vitesse
innovation empowers customers to deliver superior products for
Enterprise, Access, Metro, and Core applications. Additional company and
product information is available at www.vitesse.com.
Vitesse is a registered trademark in the United States and/or other
jurisdictions of Vitesse Semiconductor Corporation. All other trademarks
or registered trademarks mentioned herein are the property of their
respective holders.
Safe Harbor
Statements made in this release that are not historical facts are "forward-looking”
statements (as defined in the Private Securities Litigation Reform Act
of 1995) that involve risks and uncertainties and are subject to change
at any time. These forward-looking statements may include, but are not
limited to, statements containing words such as "anticipate,” "believe,” "plan,” "estimate,” "expect,” "hope,” "intend,”
and similar expressions. Factors that could cause actual results to
differ are identified in the public filings made by Vitesse with the
Securities and Exchange Commission and include the fact that we have
disclosed that you should not rely upon our published financial
statements and the fact that we have not filed all of our reports
required by the Securities Exchange Act of 1934. More information on
factors that could affect our business and financial results are
included in our public filings made with the Securities and Exchange
Commission, which are available on the web site of the Securities and
Exchange Commission, www.sec.gov.
The forward-looking statements involve known and unknown risks,
uncertainties and other factors that are, in some cases, beyond our
control. We caution investors that any forward-looking statements made
by us are not guarantees of future performance. We disclaim any
obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to
reflect future events or developments.
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