Alpha Elects Aldrich as CEO; Leonard Named Chairman of the Board
In his expanded role, Aldrich will be responsible for setting Alpha's strategy to further penetrate the wireless market and expand the company's presence in emerging markets such as broadband and other applications that represent the convergence of voice and data. He also will oversee opportunities for acquisitions and direct other initiatives that position the Company for continued growth. Aldrich, who joined Alpha in 1995, has overseen explosive growth in the Company's Wireless Semiconductor segment, which provides gallium arsenide (GaAs) RF integrated circuits and other RF semiconductors for major wireless handset manufacturers and other high-volume markets.
"Dave Aldrich has been the principal driver behind the phenomenal success of our Wireless Semiconductor division," Tom Leonard said. "Since 1997, Wireless Semiconductor sales have increased at a 65% annual compound growth rate. At the same time, he has established Alpha as a technology leader in the exciting new markets for wireless broadband and interactive cable access. Dave possesses a unique understanding of the connections between our technologies, our customers and our markets. Dave demonstrates one of the most important leadership skills - he focuses not just on where we are, but where we're going."
Tom Leonard has been Alpha's President and CEO since July 1996. He joined the Company in 1992 and held a number of senior executive positions. During the last three years, he directed the Company's strategic focus at the fast-growing commercial markets for wireless handsets and other wireless applications.
"Tom has been instrumental in setting a new strategic direction for Alpha, and reshaping our culture," Dave Aldrich said. "I look forward to Tom's continued insight, wisdom and guidance in his new role as Alpha's Chairman. It is through Tom's leadership that we have assembled a team of experienced, goal-oriented executives who continue to raise the bar on quality and customer service."
About Alpha
Alpha Industries designs and manufactures a broad range of products for microwave and radio frequency wireless communications applications. The Wireless Semiconductor segment provides gallium arsenide (GaAs) integrated circuits and other semiconductors to the dynamic global market for wireless telephone handsets. The Ceramic Products segment provides technical ceramic products for wireless telephony infrastructure and other wireless markets. The Application Specific Products (ASP) segment provides a broad range of GaAs and silicon devices to satellite, instrumentation, defense and other communications markets. Alpha has a workforce of over 1,000 employees in Massachusetts, California and Maryland. Additional information is available at Alpha's website - www.alphaind.com.
Safe Harbor Statement - Except for the historical information contained herein, this news release contains forward-looking statements that constitute the Company's current intentions, hopes, beliefs, expectation or predictions of the future which are, therefore, inherently subject to risks and uncertainties. The Company's actual results could differ materially from those anticipated in the Company's forward-looking statements based on various factors, including without limitation: cancellation or deferral of customer orders, dependence on a small number of large customers, difficulties in the timely development and market acceptance of new products, market developments that vary from the current public expectations concerning the growth of wireless communications, difficulties in manufacturing new or existing products in sufficient quantity or quality, increased competitive pressures, decreasing selling prices for the Company's products, or changes in economic conditions. Further information on factors that could affect the Company's performance is included in the Company's periodic reports filed with the SEC, including but not limited to the Company's Form 10-K for the year ended March 28, 1999, and subsequent Forms 10-Q. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstance on which any such statement is based.
CONTACT: Alpha Industries, Inc.
James C. Nemiah, (617) 824-4426