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RF Micro Devices® Press Release - October 28, 2011
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RFMD Announces Appointment of Industry Veteran Hans Schwarz as Corporate
Vice President, Business Development
GREENSBORO, N.C., Oct. 28, 2011 (GLOBE NEWSWIRE) -- RF Micro Devices,
Inc. (Nasdaq:RFMD), a global leader in the design and manufacture of
high-performance radio frequency components and compound semiconductor
technologies, today announced the appointment of technology veteran
Hans Schwarz, age 54, as corporate vice president, business development.
Mr. Schwarz brings more than 30 years of technology industry expertise
to RFMD® as well as wide-ranging involvement in successful business
development and M&A activity. In this newly created position, Mr.
Schwarz will report to Bob Bruggeworth, president and CEO of RFMD, with
responsibility for RFMD's corporate business development initiatives,
including strategic planning, M&A strategy and execution, and IP-based
acquisition and licensing. Mr. Schwarz will be based in RFMD's West
Coast office, in California's Silicon Valley.
Mr. Bruggeworth,
said, "Hans is an exceptional leader with deep semiconductor industry
experience, and we are very pleased to welcome him to RFMD. In previous
positions at other semiconductor industry leaders, Hans successfully
developed and executed large-scale business development programs that
drove growth. As part of the RFMD team, we expect him to contribute
immediately to our strategic efforts to deliver incremental growth and
profitability."
Mr. Jerry Neal, co-founder and executive vice
president of corporate marketing of RFMD, said, "I am pleased with the
successes our corporate development team achieved in the past through
several strategic business and manufacturing asset acquisitions. These
corporate development successes have enabled RFMD to become a diversified
growth company with an extremely bright future. I am pleased that
the organizational changes announced today will allow me to continue
my focus in the areas of RFMD's branding, strategic marketing and
other corporate marketing initiatives."
Before joining RFMD,
Mr. Schwarz served as managing director for a $300 million late stage
venture capital crossover fund, where he was responsible for searching
for and investing in innovative, market-leading late-stage companies
in semiconductors, storage, networking and telecom, cleantech, and other
industries. Prior to that, Mr. Schwarz spent 15 years at Xilinx, Inc.
(Nasdaq:XLNX), a market leader in programmable logic, serving most recently
as VP of Business and Strategy Development. While at Xilinx, his responsibilities
included global strategy development, managing a $300 million strategic
investment fund, corporate partnerships, and developing and implementing
an industry-leading M&A process.
Prior to Xilinx, Mr. Schwarz
held various management, marketing and engineering positions at Chips
and Technologies, Inc.; LSI Logic and Fairchild Semiconductor.
Mr. Schwarz holds a BS in Electrical Engineering and Computer Science
from Santa Clara University, in Silicon Valley. He is an independent
board member of Lattice Semiconductor Corp (Nasdaq:LSCC).
About RFMD RF Micro Devices, Inc. (Nasdaq:RFMD)
is a global leader in the design and manufacture of high-performance
radio frequency components and compound semiconductor technologies.
RFMD's products enable worldwide mobility, provide enhanced connectivity
and support advanced functionality in the cellular handset, wireless
infrastructure, wireless local area network (WLAN), CATV/broadband and
aerospace and defense markets. RFMD is recognized for its diverse portfolio
of semiconductor technologies and RF systems expertise and is a preferred
supplier to the world's leading mobile device, customer premises and
communications equipment providers.
Headquartered in Greensboro,
N.C., RFMD is an ISO 9001- and ISO 14001-certified manufacturer with
worldwide engineering, design, sales and service facilities. RFMD is
traded on the NASDAQ Global Select Market under the symbol RFMD. For
more information, please visit RFMD's web site at
www.rfmd.com.
This press release includes "forward-looking statements" within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements include,
but are not limited to, statements about our plans, objectives, representations
and contentions and are not historical facts and typically are identified
by use of terms such as "may," "will," "should," "could," "expect,"
"plan," "anticipate," "believe," "estimate," "predict," "potential,"
"continue" and similar words, although some forward-looking statements
are expressed differently. You should be aware that the forward-looking
statements included herein represent management's current judgment and
expectations, but our actual results, events and performance could differ
materially from those expressed or implied by forward-looking statements.
We do not intend to update any of these forward-looking statements or
publicly announce the results of any revisions to these forward-looking
statements, other than as is required under the federal securities laws.
RF Micro Devices' business is subject to numerous risks and uncertainties,
including variability in operating results, risks associated with the
impact of global macroeconomic and credit conditions on our business
and the business of our suppliers and customers, our reliance on a few
large customers for a substantial portion of our revenue, the rate of
growth and development of wireless markets, our ability to bring new
products to market, our reliance on inclusion in third party reference
designs for a portion of our revenue, our ability to manage channel
partner and customer relationships, risks associated with the operation
of our wafer fabrication, molecular beam epitaxy, assembly and test
and tape and reel facilities, our ability to complete acquisitions and
integrate acquired companies, including the risk that we may not realize
expected synergies from our business combinations, our ability to attract
and retain skilled personnel and develop leaders, variability in production
yields, raw material costs and availability, our ability to reduce costs
and improve margins in response to declining average selling prices,
our ability to adjust production capacity in a timely fashion in response
to changes in demand for our products, dependence on gallium arsenide
(GaAs) for the majority of our products, dependence on third parties,
and substantial reliance on international sales and operations. These
and other risks and uncertainties, which are described in more detail
in RF Micro Devices' most recent Annual Report on Form 10-K and other
reports and statements filed with the Securities and Exchange Commission,
could cause actual results and developments to be materially different
from those expressed or implied by any of these forward-looking statements.
RF MICRO DEVICES® and RFMD® are trademarks of RFMD, LLC. All other
trade names, trademarks and registered trademarks are the property of
their respective owners.
CONTACT: Doug DeLieto
VP, Investor Relations 336-678-5322
Posted 10/29/2011 |
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