Vitesse Adds Matthew Frey and Kenneth Traub to Board of Directors
Stockholders Approve the Slate of Director Nominees at 2013 Annual Meeting
CAMARILLO, Calif.--(BUSINESS WIRE)-- Vitesse Semiconductor Corporation (NAS: VTSS) , a leading provider of advanced IC solutions for Carrier and Enterprise networks, announced the addition of Matthew Frey and Kenneth H. Traub to its Board of Directors. 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, 2013.
"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 leading provider of Carrier Ethernet solutions until its sale to Ciena Corporation. Following the sale, Mr. Frey served as Ciena's Sr. Vice President of Business Development. Mr. 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. Mr. Frey holds a BS degree in accounting from Santa Clara University.
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 leading global supplier of optical security devices, and under his leadership ABNH shareholders achieved a gain exceeding 1000%. Mr. 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. He was also the co-founder and Executive Vice President and CFO of Voxware, Inc., a pioneer in VoIP communication technologies and was a Vice President at Trans-Resources, Inc., a multinational holding company and investment manager. Mr. Traub currently serves on the boards of directors of MRV Communications, Inc. (OTCQB: MRVC), of which he is currently Chairman; iPass, Inc. (NAS: IPAS) ; DSP Group, Inc. (NAS: DSPG) ; and Athersys, Inc. (NAS: ATHX) . Mr. Traub also serves as Chairman of the Board of privately-held Omnego, Inc. Mr. Traub received a BA degree from Emory College and an MBA from Harvard Business School.
Vitesse (NAS: VTSS) designs a diverse portfolio of high-performance semiconductor solutions for Carrier and Enterprise networks worldwide. Vitesse products enable the fastest-growing network infrastructure markets including Mobile Access/IP Edge, Cloud Computing and SMB/SME Enterprise Networking. Visit www.vitesse.com or follow us on Twitter @VitesseSemi.
Vitesse is a registered trademark of Vitesse Semiconductor Corporation in the United States and other jurisdictions. All other trademarks or registered trademarks mentioned herein are the property of their respective holders.
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