Westell Technologies Announces Management Changes
AURORA, Ill.--(BUSINESS WIRE)--
Westell Technologies, Inc. (NASDAQ: WSTL), a leading provider of broadband access products and conferencing services, today announced that Amy Forster was named Senior Vice President & Chief Financial Officer (CFO). She will be responsible for managing Westell's Corporate Finance Operations including Westell's domestic and international subsidiaries. She joined Westell in 1994 and most recently served as Executive Director of Finance. Forster rejoins Westell after serving as the Managing Director of Finance and Controller for Claymore Securities, Inc.
Nicholas C. Hindman, Sr. who has served as Westell's CFO since 1999 will be assuming the responsibilities of the newly created position of Chief Operating Officer (COO). In his new role, Hindman will be responsible for managing Westell's Global Product Supply Chain Operations and he will support Thomas E. Mader, President and CEO in business development activities. Hindman will continue to be responsible for Corporate Planning, Project Management and Information Technology.
"These changes are being made to improve Westell's ability to adapt to a constantly changing marketplace and to strategically position the Company for future growth. I look forward to working with Amy and Nick as we position Westell for continuing success," Mader said.
The two appointments will become effective on July 2. About Westell
Westell Technologies, Inc. (NASDAQ: WSTL) headquartered in Aurora, Illinois is an Broadband Access Solutions company that provides leading broadband products, service solutions, and conferencing solutions for carriers, service providers and business enterprises around the world. Westell delivers innovative, open broadband solutions that meet the market's needs for fast and seamless broadband connection. Additional information can be obtained by visiting Westell's Web site at www.westell.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act 1995:
Certain statements contained herein including, without limitation, statements containing the words "believe," "on track, " "anticipate," "focus," "should," "committed" "expect," "estimate", "await," "continue," "intend," "may," "will," "should," and similar expressions are forward looking statements that involve risks and uncertainties. These risks include, but are not limited to, product demand and market acceptance risks, need for financing, the economic downturn in the U.S. economy and telecom market, the impact of competitive products or technologies, competitive pricing pressures, product development, excess and obsolete inventory due to new product development, commercialization and technological delays or difficulties (including delays or difficulties in developing, producing, testing and selling new products and technologies), the effect of Westell's accounting policies, the need for additional capital, the effect of economic conditions and trade, legal social and economic risks (such as import, licensing and trade restrictions) and other risks more fully described in Westell's Annual Report on Form 10-K for the fiscal year ended March 31, 2007 under the section "Risk Factors". Westell undertakes no obligation to release publicly the result of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Source: Westell Technologies, Inc.
Released June 18, 2007