SAN FRANCISCO—Kurt Busch, a former executive at semiconductor supplier Mindspeed Technologies Inc., was named president and CEO of smart connectivity technology firm Lantronix Inc. Tuesday (Aug. 23).
Lantronix' former CEO, Jerry Chase, stepped down in June along with the company's chief financial officer and the company's chairman. The resignations came after an internal investigation into excessive travel expenses, improper stock option grants and other allegations made by Lantronix co-founder Bernhard Bruscha, the company's largest shareholder and a member of the company's board.
Busch, 40, has served in senior leadership positions at Mindspeed, most recently as senior vice president and general manager for the company's high performance analog division. Prior to joining Mindspeed, he worked in business development at Analog Devices Inc. and held various roles in engineering, sales and marketing and general management at Digital Equipment Corp. and Intel Corp., according to Lantronix.
"My focus will be on leveraging the company's core assets to grow Lantronix's market share in the expanding M2M space and deliver improved value to our shareholders," said Busch, in a statement.
Mindspeed (Newport Beach, Calif.) said Najabat H. (Hasnain) Bajwa, the company’s senior vice president and general manager of lightspeed connectivity solutions within the high-performance analog group, will replace Busch to head the combined high-performance analog business unit, effective immediately.