TTM Technologies, Inc. Appoints Wajid Ali to Board of Directors
May 09 2024 - 4:05PM
TTM Technologies, Inc. (NASDAQ: TTMI), a leading global
manufacturer of technology solutions including mission systems,
radio frequency (“RF”) components and RF microwave/microelectronic
assemblies, quick-turn and technologically advanced printed circuit
boards (“PCB”), announced today that Mr. Wajid Ali has been
appointed by the unanimous vote of the remaining Directors to serve
as a new Class I director on the Board, effective immediately. Mr.
Ali succeeds outgoing Class I director Dr. Dov S. Zakheim, who
retired on May 8, 2024, pursuant to the TTM Corporate Governance
Guidelines that prescribes a mandatory retirement for directors at
the age of 75. Dr. Zakheim served as a director of the Company
since July 2010.
Mr. Ali is a seasoned public company executive with over 20
years of experience in the technology industry. He is the current
Chief Financial Officer of Lumentum Holdings Inc. and oversees
Lumentum’s overall financial operations and information technology
group. Mr. Ali is expected to serve on the Audit Committee of the
Board.
Before joining Lumentum, Mr. Ali was the Senior Vice President
and Chief Financial Officer at Synaptics Incorporated. Before
Synaptics, Mr. Ali was Vice President and Controller at Teledyne
Technologies, Incorporated. Prior to Teledyne, he served as Chief
Financial Officer at DALSA Corp., a semiconductor company that was
acquired by Teledyne in 2011. Mr. Ali also held key financial
management positions at AMD and ATI, overseeing the finance
functions for large business groups.
Mr. Ali holds a Bachelor of Arts and a Master of Arts degree in
Economics from York University; a Master of Business Administration
degree from the Schulich School of Business, York University; and
CPA and CMA designations from the Chartered Professional
Accountants of Ontario, Canada.
“We are very appreciative of the exceptional service of Dov
Zakheim over the years. We have benefitted immeasurably from his
leadership as a Board member and Chairman of our Government
Security Committee and his many other contributions to the success
of TTM, particularly as we strengthened our company through
strategic acquisitions and divestitures aimed at further
differentiating our leading position in the Aerospace and Defense
sector,” said Tom Edman, President and CEO of TTM. “We are also
pleased to have Wajid join our Board. We anticipate that his
extensive financial background in industrial technology, coupled
with his experience in the Aerospace and Defense sector, will
bolster the Board’s capabilities as we look forward to the future
for TTM.”
After Dr. Zakheim’s retirement and Mr. Ali’s appointment, the
Board continues to consist of nine directors, eight of whom are
independent under NASDAQ rules.
About TTMTTM Technologies, Inc. is a leading
global manufacturer of technology solutions including mission
systems, RF components/RF microwave/microelectronic assemblies,
quick-turn and technologically advanced PCBs. TTM stands for
time-to-market, representing how TTM's time-critical, one-stop
manufacturing services enable customers to shorten the time
required to develop new products and bring them to market.
Additional information can be found at www.ttm.com.
Forward-Looking
Statements
This release contains forward-looking
statements that relate to future events or performance. TTM
cautions you that such statements are simply predictions and actual
events or results may differ materially. These statements reflect
TTM’s current expectations, and TTM does not undertake to update or
revise these forward looking statements, even if experience or
future changes make it clear that any projected results expressed
or implied in this or other TTM statements will not be realized.
Further, these statements involve risks and uncertainties, many of
which are beyond TTM’s control, which could cause actual results to
differ materially from the forward-looking statements. These risks
and uncertainties include, but are not limited to, general market
and economic conditions, including interest rates, currency
exchange rates and consumer spending, demand for TTM’s products,
market pressures on prices of TTM’s products, warranty claims,
changes in product mix, contemplated significant capital
expenditures and related financing requirements, TTM’s dependence
upon a small number of customers and other factors set forth in the
“Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections of TTM’s
public reports filed with the SEC.
Contact:Sameer
Desai,Vice President, Corporate Development & Investor
RelationsSameer.desai@ttmtech.com714-327-3050
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