"Our product development operations in India are a focal point of our strategic initiative to leverage lower-cost offshore resources in order to maximize our investment productivity and to develop an ongoing source of competitive advantage," said Dwight W. Decker, Conexant chairman and chief executive officer. "These appointments further demonstrate our commitment to the region, and we are delighted that Shiva has chosen to join and lead the Conexant team. Over the past several years, Naresh has made significant contributions to our India operations, and in his new role he will be able to expand his impact."
"Shiva has outstanding technical and managerial skills, and he has demonstrated an ability to build and lead engineering organizations that consistently exceed expectations, schedules, and goals," said Rhodes. "He also possesses a thorough understanding of the Indian technology industry and the local market for talent. With his experience and track record of accomplishment, I am confident that Shiva will lead our India team to new levels of achievement and success."
Prior to joining Conexant, Gowni was the general manager of Cypress Semiconductor India, Bangalore. Before that, he served as director of SerDes Design, and managing director, Bangalore, for Velio Communications, Inc. He holds a bachelor's degree in electronics engineering from Osmania University in Hyderabad, India, and a master's degree in electronics engineering from Mississippi State University.
"I am pleased and excited to be joining Conexant," Gowni said. "The company is committed to building and leveraging a significant and dynamic engineering presence in India that will make considerable contributions to the company's ongoing success. I'm looking forward to leading the team, and to working closely with the company's business units and executive leadership as we fully develop and maximize Conexant's engineering assets in India."
Regarding Malipeddi's promotion, Rhodes said: "Naresh joined Conexant to establish our Hyderabad design center, which has since grown into a high-performance, 150-person team. His operational skills will now be applied to the benefit of our other India design sites."
Malipeddi joined Conexant in September 2000 when the company acquired NetPlane Network Technologies (previously named Harris & Jeffries Inc.). Prior to Harris & Jeffries, Malipeddi spent 17 years with CMC Ltd.'s research and development facility in Hyderabad, where he was responsible for leading a variety of projects in the areas of Web technology, pervasive computing, and multimedia education and training. He holds a bachelor's degree in electronics and communications from Osmania University in Hyderabad, and earned a master's in management from the India Institute of Management in Bangalore.
"I'm enthusiastic about my new role and responsibilities as chief operating officer for Conexant's India organization, and I am looking forward to supporting Shiva as we continue to build and enhance our India-based workforce," Malipeddi said.
Conexant's India engineering facilities are located in Noida, Hyderabad, Pune, and Bangalore. The company's India workforce is expected to total approximately 700 at the conclusion of the current September-ending fiscal year.
Conexant's innovative semiconductor solutions are driving broadband communications and digital home networks worldwide. The company has leveraged its expertise and leadership position in modem technologies to enable more Internet connections than all of its competitors combined, and continues to develop highly integrated silicon solutions for broadband data and media processing networks.
Key products include client-side xDSL and cable modem solutions, home network processors, broadcast video encoders and decoders, digital set-top box components and systems solutions, and dial-up modems. Conexant's suite of networking components includes a leadership portfolio of IEEE 802.11a/b/g-compliant WLAN chipsets, software and reference designs, as well as solutions for applications based on HomePlug(SM) and HomePNA(TM). The company also offers a complete line of asymmetric and symmetric DSL central office solutions, which are used by service providers worldwide to deliver broadband data, voice, and video over copper telephone lines.
Conexant is a fabless semiconductor company that recorded more than $900 million in revenues in fiscal year 2004. The company has approximately 2,400 employees worldwide, and is headquartered in Newport Beach, Calif. To learn more, please visit us at www.conexant.com.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Conexant or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Our future GAAP-based results will be affected by the implementation of new accounting rules related to the expensing of stock options commencing in fiscal 2006. Other risks and uncertainties include, but are not limited to: general economic and political conditions and conditions in the markets we address; the substantial losses the company has incurred recently; the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; continuing volatility in the technology sector and the semiconductor industry; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions and product quality; the company's ability to anticipate trends and develop products for which there will be market demand; the availability of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; product obsolescence; the ability of our customers to manage inventory; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the uncertainties of litigation and the demands it may place on the time and attention of company management; and possible disruptions in commerce related to terrorist activity or armed conflict, as well as other risks and uncertainties, including those detailed from time to time in our Securities and Exchange Commission filings.
The forward-looking statements are made only as of the date hereof. We undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Conexant is a registered trademark of Conexant Systems, Inc. Other brands and names contained in this release are the property of their respective owners.
Conexant Systems, Inc. Gwen Carlson (Media), 949-483-7363 or Bruce Thomas (Investors), 949-483-2698