MACOM Announces Appointment of New Director
MACOM Technology Solutions (News - Alert) Holdings, Inc. ("MACOM") (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced the appointment of John Ritchie as an independent Director. Mr. Ritchie brings 25 years of experience and leadership in the networking equipment and technology industry to MACOM's Board of Directors.
"I am pleased to welcome John to our Board of Directors," said John Ocampo, MACOM's Chairman of the Board. "John has a distinguished career and a proven business track record in hardware and software technology, at both the executive management and board level. John's financial and business acumen are exemplary, and the entire MACOM Board and I look forward to his future contributions."
Mr. Ritchie is currently the Chief Financial Officer of A Cloud Guru. He previously served as the Senior Vice President, Chief Financial Officer of Aerohive (News - Alert) Networks, Inc., and as its Chief Operating Officer. Mr. Ritchie also previously served as the Chief Financial Officer of Telerik AD. Prior to that, Mr. Ritchie held several executive positions, including as Chief Financial Officer of Ubiquiti Networks, Inc. Mr. Ritchie also served as a member of the board of directors of Acacia Communications, Inc. until its acquisition by Cisco (News - Alert) Sytems, Inc. in March 2021. Mr. Ritchie holds a B.S. in business administration from San Jose State University.
MACOM designs and manufactures semiconductor products for Telecommunication, Industrial and Defense and Data Center applications. Headquartered in Lowell, Massachusetts, MACOM has design centers and sales offices throughout North America, Europe and Asia. MACOM is certified to the ISO9001 international quality standard and ISO14001 environmental management standard.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements based on MACOM management's beliefs and assumptions and on information currently available to our management. These forward-looking statements include, among others, statements about MACOM's strategic plans and priorities, information concerning Mr. Ritchie's expertise and future contributions to the board of directors.
These forward-looking statements reflect MACOM's current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including any failure to anticipate demand for our products; risks related to any weakening of economic conditions, including as a result of the COVID-19 pandemic; our dependence on a limited number of customers; our ability to develop new products and achieve market acceptance of those products; disruptions in our supply chain; and those other factors described in "Risk Factors" in MACOM's filings with the Securities and Exchange Commission ("SEC (News - Alert)"), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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