UTStarcom Chairman Resigns

UTStarcom's chairman has announced his resignation from the job, although he will continues to sit on the board of directors. Thomas J. Toy, currently lead director, will assume the chairman role, while Peter Blackmore will continue as president and chief executive officer.

"It has been my privilege and honor to work with UTStarcom's employees and customers around the world," Mr. Lu noted. "I am proud of the people and pioneering technologies that have helped our customers achieve success."

Lu founded UTStarcom in 1991 as Unitech Telecom, focusing on the telecommunications market in China. In 1995, Unitech merged with Starcom Networks to form UTStarcom. Under Lu's leadership, UTStarcom went public in 2000 and went on to expand its business and products globally.

Posted to the site on 4th August 2009