Mindspeed Appoints Allison Garcia as Senior Vice President, Human Resources
NEWPORT BEACH, Calif., Jun 28, 2010 (BUSINESS WIRE) -- Mindspeed Technologies, Inc.(MSPD8.45, +0.17, +2.05%), a leading supplier of semiconductor solutions for network infrastructure applications, today announced the appointment of Allison K. Garcia, 37, as senior vice president, human resources, effective June 21, 2010. Garcia joins the company from Lantronix, Inc., where she served for two years, most recently as vice president of human resources. Garcia will report directly to Raouf Halim, Mindspeed's chief executive officer.
"We are delighted to appoint a new head of human resources of Allison's caliber and demonstrated track record. She brings in-depth employee compensation experience and human capital management expertise, enabling her to immediately impact our global operating platform," said Halim. "I look forward to working closely with Allison as we pursue the growth opportunities ahead of us and continue to strengthen the culture of engineering excellence that has made us a leader in the exciting high-growth markets of telecommunications and networking."
"Mindspeed has a strong management team, market-leading products and a well-established presence in North America, Europe and Asia," said Garcia. "I am excited about joining the company, and contributing my experience to enhance the performance and mission of Mindspeed employees throughout the world."
Garcia has a 16-year record of success in managing compensation, recruitment and workforce operations at high-growth international companies. Prior to her association with Lantronix, Inc., Garcia held increasingly senior positions at leading global companies, including Quicksilver, Inc., Cendant Corporation and The Boeing Company.
Garcia received a bachelor's degree in psychology from California State University, Long Beach, and a master's degree in business administration from Pepperdine University.
Mindspeed also announced that on June 25, 2010, the compensation and management development committee of its board of directors granted Ms. Garcia an award of stock options for 30,000 shares of Mindspeed common stock, and an award of 15,000 shares of restricted stock. The stock options will vest 25% on the first anniversary of the grant date and yearly thereafter and have an exercise price of $8.28, which was the closing price of Mindspeed's common stock on the date of grant. The option grant has an expiration date of June 25, 2018. The restricted stock grant will vest 25% on August 1, 2011 and 6.25% quarterly thereafter.
Mindspeed's compensation and management development committee, which is solely comprised of independent directors, approved the grant of stock options and shares of restricted stock pursuant to stand-alone option and restricted stock agreements and in accordance with NASDAQ Listing Rule 5635(c)(4).
About Mindspeed Technologies
Mindspeed Technologies, Inc. designs, develops and sells semiconductor solutions for communications applications in the wireline and wireless network infrastructure, which includes today's separate but interrelated and converging enterprise, broadband access, metropolitan and wide area networks. Our products are classified into three focused product families: communications convergence processing, high-performance analog and wide area networking communications. Our products are sold to original equipment manufacturers (OEMs) for use in a variety of network infrastructure equipment, including voice and media gateways, high-speed routers, switches, access multiplexers, cross-connect systems, add-drop multiplexers, digital loop carrier equipment, IP private branch exchanges (PBXs), optical modules, broadcast video systems and wireless base station equipment.