Tuesday, May 9, 2006

UTStarcom's Hong Lu to Step Down as CEO

UTStarcom announced that its Chairman and CEO, Hong Lu, will step at the end of this year. Mr. Lu will remain as Chairman and CEO of the company until December 31, 2006, focusing on strategic opportunities and assisting during the transition. Tom Toy, currently an independent director of UTStarcom, will assume the position of chairman of the board as of January 1, 2007.

Ying Wu, CEO of UTStarcom China, will assume the CEO position as of January 1, 2007. Mr. Wu has been UTStarcom's Executive Vice-President and Vice Chairman of the Board of Directors since October 1995. Prior to its merger with Unitech Telecom, Inc., he was the President of Starcom, Inc. Before founding Starcom, Inc., Mr. Wu was a member of the technical staff of Bellcore (now Telcordia). From 1987 to 1988, Mr. Wu was a consultant to AT&T Bell Labs (now part of Lucent Technologies). He holds an M.S. in Electrical Engineering from the New Jersey Institute of Technology and a B.S. in Electrical Engineering from Beijing Industrial University.


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