PHILADELPHIA--()--Pulse Electronics Corporation (NYSE: PULS), a leading provider of electronic components, announced today its board of directors named Ralph E. Faison as president and chief executive officer, effective January 5, 2011. Mr. Faison replaces Drew A. Moyer, who served as the Company’s interim chief executive officer since August 1, 2010. Mr. Faison will also be joining the Company’s Board of Directors. Mr. Moyer will remain the Company’s chief financial officer, a role he has held since 2004.
“He has a demonstrated track record of growing revenue and increasing profit. This track record reflects his comprehensive skill set, which includes proven leadership, marketing talent and manufacturing expertise.”
Mr. Faison brings significant senior leadership experience to Pulse Electronics. Most recently, he was president, chief executive officer and a director of Andrew Corporation, a publicly traded manufacturer of communication equipment and systems, which was acquired by CommScope, Inc. in December 2007. Under his leadership, Andrew Corporation’s revenues increased from approximately $865 million in fiscal 2002 to nearly $2.2 billion in fiscal 2007. Prior to joining Andrew Corporation, he was president and chief executive officer of Celiant Corporation, a manufacturer of power amplifiers and wireless radio frequency systems, which was acquired by Andrew Corporation in June 2002. From 1995 to 2001, he held leadership roles at Lucent Technologies, including vice president of Lucent’s New Ventures Group.
Before joining Lucent, Mr. Faison held various leadership positions at AT&T, including vice president and general manager of AT&T’s wireless business unit and vice president of manufacturing for AT&T’s consumer products unit in Bangkok, Thailand. From December 2007 to the present, Faison was a private investor and devoted time to charitable organizations, including as chairman of the Chicago Advisory Board for the Network for Teaching Entrepreneurship, an organization dedicated to the development and education of underprivileged urban youth. Faison is a current member of the board of directors of NETGEAR, Inc. (NASDAQ: NTGR) and BLINQ Networks, a privately held developer of non-line-of sight wireless backhaul products for compact base stations. He holds a B.B.A. degree in marketing from Georgia State University and an M.S. degree in management as a Sloan Fellow from Stanford University.
“We are excited that Ralph Faison will be joining the Pulse management team as the Company’s new CEO,” said John Burrows, lead director of Pulse Electronics. “He has a demonstrated track record of growing revenue and increasing profit. This track record reflects his comprehensive skill set, which includes proven leadership, marketing talent and manufacturing expertise.
“Ralph’s extensive background in the communication infrastructure, wireless and high tech markets is an excellent fit with Pulse. Together with Drew Moyer’s financial leadership and Chief Operating Officer Alan Benjamin’s extensive operational knowledge, Pulse has a deep and experienced executive leadership team.”
“I am very pleased to join Pulse Electronics,” said Faison. “I believe the Company holds significant unrecognized value. Pulse is well positioned in strong growth industries and possesses strong brand equity. We are going to leverage our team’s unmatched engineering expertise to drive long-term growth. I look forward to working with all Pulse employees to serve our customers and shareholders.”
About Pulse Electronics Corporation
Pulse Electronics is the electronic components partner that helps customers build the next great product by providing the needed technical solutions. Pulse has a long operating history of innovation in magnetics, antennas and connectors, as well as the ability to ramp quickly into high-quality, high-volume production. The Company serves manufacturers in the wireless and wireline communications, power management, military/aerospace and automotive industries. Previously, the holding and operating companies were known as Technitrol, Inc. and Pulse Engineering, Inc., respectively. For more information, visit the Company’s web site at www.pulseelectronics.com.
This release contains statements that are “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. Actual results may differ materially due to the risk factors listed from time to time in the Company’s SEC reports including, but not limited to, those discussed in the Company’s Form 10-Q for the quarter ended October 1, 2010 in Item 1a under the caption “Factors That May Affect Our Future Results (Cautionary Statements for Purposes of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995).” All such risk factors are incorporated into this report by reference as though set forth in full.
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