NETGEAR® Appoints Industry Veteran Tom Holt as Chief Information Officer
Former Lucent Vice President to Enhance NETGEAR’s IT Environment and Institute Long-Term, Business-Aligned Strategies
SANTA CLARA, Calif. — September 15, 2006 — NETGEAR®, Inc. (Nasdaq: NTGR), a worldwide provider of technologically advanced, branded networking products, today announced the appointment of Tom Holt as chief information officer to lead the company’s IT organization in its business-aligned innovation. A 30-year veteran of major technology companies — most recently as vice president of IT strategy and planning at Lucent Technologies — Mr. Holt brings his expertise in developing and overseeing long-term IT environment and migration strategies to further strengthen NETGEAR’s established management team.
“I’m extremely proud to have Tom Holt join NETGEAR as our first chief information officer,” commented Patrick Lo, NETGEAR’s chairman and chief executive officer. “With operations and employees spread widely across North America, Asia-Pacific, and the EMEA region, we see Tom, with his three decades of experience, as the ideal person to help progress our IT operations and further align them with our overarching business strategies.”
As chief information officer, Mr. Holt will lead the development and delivery of NETGEAR’s business-aligned IT strategy, as well as oversee NETGEAR’s physical infrastructure and network access in order to ensure NETGEAR achieves its goals.
“I’m looking forward to the challenge of overseeing the IT strategy and infrastructure of a company growing as rapidly worldwide as NETGEAR,” said Mr. Holt. “It’s exciting to be a part of a company that is a recognizable household brand and add value to the company as it seeks to consistently spearhead innovative products and enter new markets.”
Mr. Holt is a 30-year veteran of the technology industry. He joins NETGEAR after a highly successful seven-year tenure with Lucent Technologies, where he held top positions as vice president of IT strategy and planning, as well as vice president and chief information officer of Lucent Worldwide Services, INS and Mobility. Mr. Holt took the lead in establishing applications and architecture plans, and worked with senior business leaders on business operations simplification, including developing strategies for reducing operating costs and increasing operating efficiencies. He also led the development of Lucent’s IT outsourcing strategy for transferring legacy applications work. His plan to simplify the IT portfolio by decommissioning legacy applications resulted in annual savings of more than $50 million. Additionally, Mr. Holt has served as the chief information officer and vice president of Information Services (IS) at International Network Services, Inc., and vice president and chief information officer at Informix Software. Earlier in his career, he was IS director at VLSI Technology, and held several IS positions with Motorola Semiconductor, including European IS director. .
About NETGEAR®, Inc.
NETGEAR® (Nasdaq: NTGR) designs technologically advanced, branded networking products that address the specific needs of small and medium business and home users. The Company’s product offerings enable users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. NETGEAR is headquartered in Santa Clara, Calif. For more information, visit the company’s Web site at www.netgear.com or call (408) 907-8000.
©2006 NETGEAR, Inc. NETGEAR® and the NETGEAR logo are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning expected performance characteristics, specifications, market acceptance, market growth, specific uses, user feedback and market position of NETGEAR’s products and technology are forward-looking statements within the meaning of the Safe Harbor. These statements are based on management’s current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: the actual price, performance and ease of use of NETGEAR’s products may not meet the price, performance and ease of use requirements of end-users; the performance of NETGEAR’s products may be adversely affected by real world operating conditions; the ability of NETGEAR to market and sell its products and technology; the impact and pricing of competing products; and the introduction of alternative technological solutions. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company’s periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled “Part II - Item 1A. Risk Factors,” pages 30 through 39, in the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 2, 2006, filed with the Securities and Exchange Commission on August 11, 2006. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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