Lantronix Appoints Christa Steele to Its Board of Directors
January 25 2024 - 7:00AM
Lantronix Inc. (NASDAQ: LTRX) (the “Company”), a global provider of
secure turnkey solutions for the Industrial Internet of Things
(IoT) and the Intelligent IT market, today announced that Christa
Steele is joining the Company’s Board of Directors as an
independent director, effective Jan. 24, 2024. Following the
appointment of Steele, the Board will be comprised of six
directors, five of whom are independent under applicable
listing standards of the Nasdaq Stock Market.
“We are very pleased to welcome Christa Steele to the Lantronix
Board of Directors,” said Saleel Awsare, CEO and president of
Lantronix. “Lantronix will benefit greatly from her extensive
experience, including positions as CEO and board member for public
and privately held companies for which she helped drive successful
outcomes.”
“In addition to being a seasoned board director, Christa has a
proven track record of delivering strategies that support revenue
growth, improved profitability, and shareholder value creation. She
will be a valuable addition to the Lantronix Board of Directors,”
said Jason W. Cohenour, chairman of the Board for Lantronix.
Steele is an experienced CEO and board member, having served
with public and privately held companies with revenues of up to $1
billion. In addition to the Lantronix Board of Directors, she also
currently serves on the boards of Velocity Risk, The Doctors
Company and Tanimura & Antle.
In early 2022, Steele was appointed interim CEO for Balco
Holdings Inc., parent company of Bay Alarm, Bay Alarm Medical and
BALCO Properties, with 1,200 employees and revenues in excess of
$250 million. She successfully completed the divesting of company
assets by the end of 2022. Prior to Balco Holdings Inc., she was
president and CEO of Mechanics Bank, where, during her tenure, core
earnings improved, the stock price doubled and the company was sold
for a premium in 2015.
Steele holds an MBA from The Marshall School of Business at the
University of Southern California and a Bachelor of Arts from
California State University Sacramento.
About Lantronix
Lantronix Inc. is a global Industrial and Enterprise Internet of
Things (IoT) provider of solutions that target high-growth
applications in specific vertical markets, including Smart Grid,
Intelligent Transportation, Smart Cities and AI Data Centers.
Lantronix’s history in networking and video processing as well as
its leading-edge applications include Intelligent Substations
infrastructure, Infotainment systems and Video Surveillance,
supplemented with comprehensive Out of Band Management (OOB)
solutions for Cloud and Edge Computing.
Lantronix’s solutions empower companies to achieve success in
the growing IoT and OOB markets by delivering customizable
solutions that address each layer of the IoT Stack, including
Collect, Connect, Compute, Control and Comprehend. For more
information, visit the Lantronix website.
Learn more at the Lantronix blog, which features industry
discussion and updates. Follow Lantronix on Twitter, view its
YouTube video library or connect on LinkedIn.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995: Any statements set forth in this news release
that are not entirely historical and factual in nature, including
without limitation statements regarding our future growth and
profitability. These forward-looking statements are based on our
current expectations and are subject to substantial risks and
uncertainties that could cause our actual results, future business,
financial condition, or performance to differ materially from our
historical results or those expressed or implied in any
forward-looking statement contained in this news release. The
potential risks and uncertainties include, but are not limited to,
such factors as the effects of negative or worsening regional and
worldwide economic conditions or market instability on our
business, including effects on purchasing decisions by our
customers; our ability to mitigate any disruption in our and our
suppliers’ and vendors’ supply chains due to the COVID-19 pandemic
or other outbreaks, wars and recent tensions in Europe, Asia and
the Middle East, or other factors; future responses to and effects
of public health crises; cybersecurity risks; changes in applicable
U.S. and foreign government laws, regulations, and tariffs; our
ability to successfully implement our acquisitions strategy or
integrate acquired companies; difficulties and costs of protecting
patents and other proprietary rights; the level of our
indebtedness, our ability to service our indebtedness and the
restrictions in our debt agreements; and any additional factors
included in our Annual Report on Form 10-K for the fiscal year
ended June 30, 2023, filed with the Securities and Exchange
Commission (the “SEC”) on Sept. 12, 2023, including in the section
entitled “Risk Factors” in Item 1A of Part I of such report; our
Quarterly Report on Form 10-Q for the fiscal quarter ended
September 30, 2023, filed with the SEC on Nov. 8, 2023, including
in the section entitled “Risk Factors” in Item 1A of Part II of
such report; as well as in our other public filings with the SEC.
Additional risk factors may be identified from time to time in our
future filings. The forward-looking statements included in this
release speak only as of the date hereof, and we do not undertake
any obligation to update these forward-looking statements to
reflect subsequent events or circumstances.
© 2024 Lantronix, Inc. All rights reserved. Lantronix is a
registered trademark. Other trademarks and trade names are those of
their respective owners.
Lantronix Media
Contact: Gail
Kathryn MillerCorporate Marketing &Communications
Managermedia@lantronix.com949-212-0960
Lantronix Analyst and Investor
Contact: Jeremy
WhitakerChief Financial Officerinvestors@lantronix.com
949-450-7241
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