Vitesse Appoints Matthew Frey and Kenneth Traub to Board of Directors
Mar 19, 2013 (Close-Up Media via COMTEX) --
Vitesse Semiconductor Corp., a provider of IC solutions for Carrier and Enterprise networks, announced the addition of Matthew Frey and Kenneth H. Traub to its Board of Directors.
According to a release, these first-term directors were elected along with the slate of the Company's five existing members at its Annual Meeting of Stockholders held on March 7.
"Our new directors have a strong mix of leadership, business acumen, and relevant experience that aligns with our strategic objectives," said Chris Gardner, CEO of Vitesse. "Matthew's strategic, operational and software development background supports our focus on growing new product revenues and penetrating target markets. Ken has a wealth of complementary experience, including senior management, corporate governance, turnaround and transactional experience, which are necessary as we strengthen our market position, manage our capital structure and ultimately return to sustained profitability. We welcome them both."
Frey and Traub join the Board with Vitesse's re-elected directors: Chris Gardner, Steve Hanson, Jay Hugar, Scot Jarvis, and Ed Rogas, Jr. G. William LaRosa and G. Grant Lyon did not stand for re-election. The total board count remains at seven.
Matthew Frey has more than 16 years experience in senior executive and advisory roles at technology companies and brings operational, strategic, industry, and software development expertise to the Board. He is currently the Chief Executive Officer of Optimum Energy, LLC, a cloud-based SaaS provider of energy management applications for complex buildings, data centers, campuses, hospitals, and manufacturing facilities, a position he has held since November 2010. Prior to that, he served as President and Chief Operating Officer of World Wide Packets, a provider of Carrier Ethernet solutions until its sale to Ciena Corp. Following the sale, Frey served as Ciena's Sr. Vice President of Business Development. Frey has also held strategic positions at Data Base, Inc. and Payroll Online and worked as an auditor at Price Waterhouse early in his career.
Kenneth H. Traub has over 20 years of senior management, corporate governance, turnaround, and transaction experience with various public and private companies. He is the President and Chief Executive Officer of Ethos Management LLC, which specializes in investing in and advising undervalued companies to execute strategies to build and unlock stockholder value, a position he has held since January 2009. Prior to this role, he was President and Chief Executive Officer of American Bank Note Holographics, Inc. (ABNH), a global supplier of optical security devices, and under his leadership ABNH shareholders achieved a gain exceeding 1000 percent. Traub managed the turnaround, growth and sale of ABNH to JDS Uniphase Corp. (JDSU) and served as a Vice President of JDSU following the acquisition. Traub currently serves on the boards of directors of MRV Communications, Inc., of which he is currently Chairman; iPass, Inc. ; DSP Group, Inc. ; and Athersys, Inc. . Traub also serves as Chairman of the Board of privately-held Omnego, Inc.
Vitesse designs a diverse portfolio of high-performance semiconductor solutions for Carrier and Enterprise networks worldwide.
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