SANTA BARBARA, Calif., Jan. 24 /PRNewswire-FirstCall/ -- Superconductor
Technologies, Inc., STI (Nasdaq: SCON) ("STI"), a leading provider of high
performance infrastructure products for wireless voice and data applications,
today announced the appointment of David Vellequette, 50, to its board of
directors effective January 18, 2007. With the addition of Vellequette, STI's
board has seven members.
"Dave's extensive financial experience and telecommunications industry
relationships will be invaluable to STI as we continue to drive forward our
solutions-focused growth strategy. I am thrilled to welcome him to our
board," said Jeff Quiram, STI's president and chief executive officer. "I
feel confident his unique insights and perspective will help guide STI to the
next stage of its growth and evolution."
Vellequette will serve on the Audit Committee, the Governance and
Nominating Committee, and the Executive Committee. He is also designated
STI's financial expert as defined by SEC and NASDAQ guidelines.
"STI has a growing product portfolio and expanding customer base which
positions the company well, I believe, to capitalize on the continuing growth
of advanced wireless networks," said Vellequette. "I am impressed with
management's success to date in providing innovative solutions to the wireless
carriers and believe there is significant opportunity to leverage its
technology for additional success in the wireless communications market."
Vellequette currently serves as chief financial officer of JDSU, a
position he has held since June of 2005. As CFO of JDSU, Vellequette has
played an integral role in improving the company's profitability metrics
through an extensive program of cost reductions. During his tenure, and in
support of JDSU's strategic objective to diversify its revenue, both organic
growth and acquisition have contributed to annual revenue growth of more than
70 percent. He joined JDSU as vice president and operations controller in
July 2004. Prior to joining JDSU, Vellequette was vice president of worldwide
sales and service operations at Openwave Systems. Between 1992 and 2002,
Vellequette held increasingly responsible positions at Cisco Systems, first as
corporate controller of StrataCom Corporation (acquired by Cisco in 1996) and
later as vice president of finance supporting the multi-billion dollar service
provider line of business. From 1984 to 1992, Vellequette was controller at
Altera Systems. After graduating from the University of California, Berkeley
with a B.S. in Accounting, Vellequette started his finance career as an
auditor with Ernst and Young, where he became a Certified Public Accountant.
STI, headquartered in Santa Barbara, CA, is a leading provider of high
performance infrastructure products for wireless voice and data applications.
STI's SuperLink(R) solution increases capacity utilization, lowers dropped and
blocked calls, extends coverage, and enables faster wireless data rates. Its
AmpLink(TM) solution enhances the performance of wireless base stations by
improving receiver sensitivity and geographic coverage.
SuperLink and AmpLink are trademarks of Superconductor Technologies Inc.
in the United States and in other countries. For information about STI,
please visit www.suptech.com.
For further information please contact Investor Relations,
email@example.com, Kirsten Chapman or Moriah Shilton, both of Lippert /
Heilshorn & Associates, +1-415-433-3777, for Superconductor Technologies Inc.
SOURCE Superconductor Technologies, Inc.
CONTACT: Investor Relations, firstname.lastname@example.org, Kirsten Chapman or
Moriah Shilton, both of Lippert / Heilshorn & Associates, +1-415-433-3777, for
Superconductor Technologies Inc.