IRVINE, Calif., Jan. 11 /PRNewswire-FirstCall/ -- Netlist, Inc. (Nasdaq: NLST) today announced the appointment of veteran technology and design engineering executive Steven W. McClure as Vice President, Business Development, effective immediately. In this newly created position, McClure will be responsible for overseeing and implementing Netlist's business development and strategic growth plans as the Company rolls out its new higher-margin, longer-lifecycle chip-based technologies such as HyperCloud(TM), the world's first 16GB, 2 virtual rank memory module for servers.
McClure, 40, who has bachelor's and master's degrees in engineering and more than 15 years of general management, business development and product development experience, will report directly to Chairman, President and CEO C.K. Hong.
"This is a very important time for Netlist, given the improving market for high-performance computing and our own product development and product introduction initiatives," Hong said. "It is imperative that we establish a business development position on our senior management staff and we believe Steve's expertise is a perfect fit for the job. He has an extensive track record of identifying strategic growth opportunities and driving revenue growth and enterprise value, which will help us realize the opportunities we see for our new products. We welcome Steve as a key member of our executive management team."
Most recently, McClure was Vice President at Irvine, CA-based Microsemi Corporation where he focused on business development and strategy, product development and product management. Prior to that, he was Vice President and General Manager at Irvine, CA-based Teridian Semiconductor Corporation and was involved in marketing, product development and product strategy. McClure's experience also includes his tenure at Sunnyvale, CA-based Applied Micro Circuits Corporation where he was a director and focused on corporate strategy, mergers and acquisitions and product marketing.
McClure received his bachelor's and master's degrees in engineering and a master's in business administration from the University of Southern California.
About Netlist, Inc.
Netlist designs and manufactures high-performance memory subsystems for the server and high- performance computing and communications markets. The Company's memory subsystems are developed for applications in which high-speed, high-capacity memory, functionality, small form factor, and heat dissipation are key requirements. These applications include tower-servers, rack-mounted servers, blade servers, high-performance computing clusters, engineering workstations, and telecommunication equipment. Netlist maintains its headquarters in Irvine, California with manufacturing facilities in Suzhou, China.
Safe Harbor Statement
This news release contains forward-looking statements regarding future events and the future performance of Netlist, including the outcome of pending litigation, future opportunities and growth for the company's business. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expected or projected. These risks and uncertainties include, but are not limited to, the rapidly-changing nature of technology; volatility in the pricing of DRAM ICs and NAND; changes in and uncertainty of customer demand, including delays in product qualifications; delays in the Company's and its customers' product releases and development; introductions of new products by competitors; changes in end-user demand for technology solutions; the Company's ability to attract and retain skilled personnel; the Company's reliance on suppliers of critical components; fluctuations in the market price of evolving industry standards; and the political and regulatory environment in the People's Republic of China. Other risks and uncertainties are described in the Company's annual report on Form 10-K, dated March 30, 2009, and subsequent filings with the U.S. Securities and Exchange Commission made by the Company from time to time. Netlist undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Netlist, Inc.