PCTEL Names Chairman Marty Singer As Its New CEO
PCTEL Names Chairman Marty Singer As Its New CEO
October 22, 2001
PCTEL Names Chairman Marty Singer As Its New CEO
Milpitas, CA – October 22, 2001 – PCTEL Inc. (NASDAQ: PCTI), a leading provider of personal connectivity and Internet access technology, today announced that Marty Singer, currently the company's non-executive Chairman, has accepted the position of Chairman and CEO. The change is effective immediately. The current CEO, Bill Roach, is resigning for personal reasons but will stay on in an advisory role.
"We are really fortunate that Marty could step into this role and apply his considerable energy to the challenges ahead," said Bill Roach. "I have worked closely with him over the past few months and he has intimate experience with PCTEL's operations. His broad experience in the communications and wireless technology sectors will be assets to PCTEL."
Roach, who led PCTEL's IPO efforts as COO and later assumed CEO responsibilities, oversaw the company's industry-leading growth in 2000. Prior to PCTEL, Roach held executive sales and marketing positions in the storage industry at Quantum and Maxtor, and spent thirteen years in a variety of key management positions with Intel.
"On behalf of PCTEL, I want to thank Bill Roach for his stewardship during the IPO, the company's expansion, and the introduction of sales professionalism into PCTEL. I look forward to his assistance as we move forward," remarked Singer, PCTEL's new Chairman and CEO. "It is imperative that we look to the future and act decisively. PCTEL has great opportunities to return to the higher growth and profitability associated with its early history," said Singer. "While the slowdown in the PC market and intense price competition appear to have taken some major industry players out of the soft modem market, we remain committed to this market and our customers. Improved focus on the cost structure of our core business, leveraging our strong intellectual property portfolio and investment in the embedded market, and aggressive expansion into new but related markets are the key elements to our continued success."
Singer was elected to PCTEL’s Board of Directors in August 1999 and appointed non-executive Chairman in February 2001. From 1997 through 2000, he led SAFCO Technologies as its CEO. In that capacity, the company more than doubled its revenue and expanded its business activities in software and services. Agilent Technologies acquired SAFCO Technologies last year for $122 million. Prior to leading SAFCO, Singer served as a Vice President and General Manager within Motorola's Cellular Infrastructure Group. He led the Wireless Local Loop Division, directed the group's intellectual property licensing programs in GSM and CDMA, and managed the Group's OEM relationships with Alcatel, Siemens, and DSC. Singer also held management and technical positions at Tellabs, AT&T, and Bell Labs. He holds a Ph.D. and Master's degrees from Vanderbilt University and received his BA at the University of Michigan. He holds six patents in telecommunications.
ABOUT PCTEL
PCTEL, founded in March 1994, is driving the evolution of innovative, cost-effective personal connectivity solutions including analog soft modems, digital broadband, home networking and embedded Internet access technology. The company is a market leader and has a wide-ranging and comprehensive portfolio of more than 43 broadband and analog communications patents, including the key and essential patents for HSP (Host Signal Processing) modem technology. PCTEL products are available to PC and data communications equipment manufacturers, as well as a variety of vertical market OEMs. PCTEL is located at 1331 California Circle, Milpitas, California, 95035. Telephone: (408) 965-2100. Fax: (408) 895-0178. For more information on PCTEL products, visit the PCTEL website at http://www.pctel.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to significant risks and uncertainties. In particular, the statements concerning advancing PCTEL’s portfolio of patents, the ITC’s final determination and ESS Technology’s posting of a bond are forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the recent economic slowdown, the rapid deterioration in PC demand, and our ability to forecast customer demand in this environment; the cyclical nature of the semiconductor and PC industries; demand for and market acceptance of new alternative Internet access devices, set-top boxes, game consoles and other connected appliances; the ability to develop and implement new technologies and to obtain protection for the related intellectual property. Operating and financial results can be affected by market conditions resulting in revenues deviating from projections which may result in increased operating expenses, additions to reserve positions, lower gross margins, higher working capital ratios. Our litigation expenses are dependent on a number of factors not all of which are within the company’s control. These as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings can affect results. These forward-looking statements are made only as of the date hereof, and the company disclaims any obligation to update or revise the information contained in any forward-looking statements, whether as a result of new information, future events or otherwise.
PCTEL and the PCTEL logo are trademarks of PCTEL, Inc. All other company and product names are trademarks of their respective holders.
"We are really fortunate that Marty could step into this role and apply his considerable energy to the challenges ahead," said Bill Roach. "I have worked closely with him over the past few months and he has intimate experience with PCTEL's operations. His broad experience in the communications and wireless technology sectors will be assets to PCTEL."
Roach, who led PCTEL's IPO efforts as COO and later assumed CEO responsibilities, oversaw the company's industry-leading growth in 2000. Prior to PCTEL, Roach held executive sales and marketing positions in the storage industry at Quantum and Maxtor, and spent thirteen years in a variety of key management positions with Intel.
"On behalf of PCTEL, I want to thank Bill Roach for his stewardship during the IPO, the company's expansion, and the introduction of sales professionalism into PCTEL. I look forward to his assistance as we move forward," remarked Singer, PCTEL's new Chairman and CEO. "It is imperative that we look to the future and act decisively. PCTEL has great opportunities to return to the higher growth and profitability associated with its early history," said Singer. "While the slowdown in the PC market and intense price competition appear to have taken some major industry players out of the soft modem market, we remain committed to this market and our customers. Improved focus on the cost structure of our core business, leveraging our strong intellectual property portfolio and investment in the embedded market, and aggressive expansion into new but related markets are the key elements to our continued success."
Singer was elected to PCTEL’s Board of Directors in August 1999 and appointed non-executive Chairman in February 2001. From 1997 through 2000, he led SAFCO Technologies as its CEO. In that capacity, the company more than doubled its revenue and expanded its business activities in software and services. Agilent Technologies acquired SAFCO Technologies last year for $122 million. Prior to leading SAFCO, Singer served as a Vice President and General Manager within Motorola's Cellular Infrastructure Group. He led the Wireless Local Loop Division, directed the group's intellectual property licensing programs in GSM and CDMA, and managed the Group's OEM relationships with Alcatel, Siemens, and DSC. Singer also held management and technical positions at Tellabs, AT&T, and Bell Labs. He holds a Ph.D. and Master's degrees from Vanderbilt University and received his BA at the University of Michigan. He holds six patents in telecommunications.
ABOUT PCTEL
PCTEL, founded in March 1994, is driving the evolution of innovative, cost-effective personal connectivity solutions including analog soft modems, digital broadband, home networking and embedded Internet access technology. The company is a market leader and has a wide-ranging and comprehensive portfolio of more than 43 broadband and analog communications patents, including the key and essential patents for HSP (Host Signal Processing) modem technology. PCTEL products are available to PC and data communications equipment manufacturers, as well as a variety of vertical market OEMs. PCTEL is located at 1331 California Circle, Milpitas, California, 95035. Telephone: (408) 965-2100. Fax: (408) 895-0178. For more information on PCTEL products, visit the PCTEL website at http://www.pctel.com.
Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to significant risks and uncertainties. In particular, the statements concerning advancing PCTEL’s portfolio of patents, the ITC’s final determination and ESS Technology’s posting of a bond are forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: the recent economic slowdown, the rapid deterioration in PC demand, and our ability to forecast customer demand in this environment; the cyclical nature of the semiconductor and PC industries; demand for and market acceptance of new alternative Internet access devices, set-top boxes, game consoles and other connected appliances; the ability to develop and implement new technologies and to obtain protection for the related intellectual property. Operating and financial results can be affected by market conditions resulting in revenues deviating from projections which may result in increased operating expenses, additions to reserve positions, lower gross margins, higher working capital ratios. Our litigation expenses are dependent on a number of factors not all of which are within the company’s control. These as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings can affect results. These forward-looking statements are made only as of the date hereof, and the company disclaims any obligation to update or revise the information contained in any forward-looking statements, whether as a result of new information, future events or otherwise.
PCTEL and the PCTEL logo are trademarks of PCTEL, Inc. All other company and product names are trademarks of their respective holders.