Tuesday, June 5, 2001
Company Press Release
IDT Names
New Chairman of the Board and Appoints New Member to Board of Directors
Federico
Faggin, Chairman of the Board, and John Schofield, Class III Director,
Bring Top-level Technology Management Experience to Communications
IC Market Leader
Press
Contacts
Financial Contacts
SANTA CLARA, Calif., June 5, 2001 - IDT (Nasdaq:IDTI - news), a leading communications IC provider, today announced Federico Faggin, co-founder of and current chairman of the board at San Jose-based Synaptics, Inc., as the new chairman of IDT's board of directors.
IDT also announced the appointment of John Schofield, president and CEO of Advanced Fibre Communications, Inc., (AFC) to its board of directors. Faggin, a member of IDT's board of directors since 1992, has 40 years experience in communications and semiconductor management and will utilize this experience to continue his role in driving strategic and operational decision-making for the company. Schofield, who will serve as a Class III director, brings more than 30 years of extensive international experience and high-level management expertise to the board, which will enable him to assist with the company's overall business direction.
"Federico's election as IDT's chairman of the board recognizes his invaluable contributions and long-standing commitment to IDT. John's CEO-level management expertise in the communications industry, significant networking experience and broad range of international experience make him a valuable addition to the board,'' said Jerry Taylor, IDT's president and chief executive officer. "Federico and John will each add tremendous value to the pursuit of IDT's strategic business goals to further IDT's leadership in the communications infrastructure markets.''
The board is organized into three separate classifications with staggered terms, and include the following members: Taylor, sole class I member; John C. Bolger and Faggin as class II members; and Ken Kannappan and Schofield as class III members.
About Federico Faggin
In 1986, Faggin co-founded Synaptics, Inc., innovator of human interface technologies and products using neural networks and mixed-signal technologies. He also served as president and CEO of the company until January 1999, when he changed roles to serve as chairman of the board. Prior to Synaptics, Faggin co-founded and was CEO of Cygnet Technologies, which developed an intelligent voice and data peripheral for the personal computer that was eventually acquired by Everex, Inc. He also co-founded and was CEO of Zilog, Inc., a company at the forefront of microprocessor technology for many years, where he conceived and architected the highly successful Z80 microprocessor and a family of intelligent peripheral devices. Faggin was with Zilog until the company was acquired by Exxon Enterprises, Inc. In 1968 Faggin developed the silicon gate technology at Fairchild Semiconductor, the world's first commercial self-aligned metal oxide semiconductor (MOS) process technology. He also co-invented and designed the world's first microprocessor, the Intel 4004, and, conceived and architected the Intel 8080, the first high-performance microprocessor. Additionally, Faggin has held design and management positions at Intel Corporation, Fairchild Semiconductor, SGS-Fairchild, now ST Microelectronics and Olivetti SpA.
Throughout his distinguished career, Faggin has earned many awards and honors, including the IEEE W. Wallace McDowell Award for his role in the development of silicon gate technology and the world's first microprocessor, and the Kyoto Prize for Advance Technology. In 1996, Faggin was inducted into the National Inventors Hall of Fame in Akron, Ohio. Faggin serves on the board of directors for Avanex, GlobeSpan, Foveon, BueArc and BOPS, and is a member of the advisory board of numerous organizations.
About John Schofield
Since April 1999, Schofield has led AFC as president and chief executive officer. In that time, he restructured the management team, refocused product development and redesigned the international sales model to direct AFC through six successive quarters of improved revenues, and a 250 percent increase in shareholder value within 24 months. Prior to joining AFC, Schofield was president of the Integrated Solutions Group of ADC Telecommunications, Inc. and also held the position of senior vice president. He has also served as senior vice president of sales and marketing for Telex Communications, Inc., and held various executive posts at Memorex Telex Corporation and Raytheon Data Systems. Schofield is also a member of the board of directors at Turin Networks, Inc., and Redfern Broadband Networks, Inc.
About IDT
IDT enhances the global network with semiconductor solutions for communications companies that lead innovation and drive convergence in voice, data and wireless networks. Communications-industry leaders choose IDT for its high-performance products that accelerate time to market and boost bandwidth in the network infrastructure. IDT's communications ASSPs include telecom products, ATM switches and SARs, high-speed PHYs, communications processors, and IP co-processors; the company offers the broadest selection of FIFOs and multi-ports; and the product mix also incorporates high-performance logic, clock management products, and high-speed SRAMs.
Headquartered in Santa Clara, Calif., the company employs approximately 5,000 people worldwide and has manufacturing facilities in California, Oregon, the Philippines and Malaysia. IDT stock is traded on the Nasdaq stock market under the symbol "IDTI." Additional information about IDT is easily accessible at www.idt.com or CD-ROM by calling (800) 345-7015. The investor hotline is (408) 654-6420.