Chief Financial Officer
ANNOUNCES RESIGNATION OF CHIEF FINANCIAL OFFICER
Appoints Darrel Slack Interim Chief Financial Officer
FREMONT, Calif., August 24, 2001 - Centillium Communications, Inc.
[Nasdaq: CTLM], innovator of broadband communications technology, announces
today the resignation of its Chief Financial Officer, John Luhtala.
Mr. Luhtala joined Centillium Communications in December 1999 as Vice
President and Chief Financial Officer. Mr. Luhtala will assist the Company
to ensure a smooth transition of financial responsibilities.
The Company has
appointed Darrel Slack as Interim Chief Financial Officer. Mr. Slack
joined Centillium in May 2000 as Director, Business Development and
has managed the Company's strategic acquisition and business development
efforts. Prior to joining Centillium, Mr. Slack worked as an investment
banker with Credit Suisse First Boston covering communications semiconductor
companies. Mr. Slack earned an MBA from Stanford University after serving
for ten years with the US Air Force as an instructor pilot and flight
The Company is
engaged in a search for Mr. Luhtala's successor.
Faraj Aalaei, Chief
Executive Officer of Centillium Communications, said, ``John has made
many valuable contributions to this Company's success including the
completion of our initial public offering and the achievement of profitability
one year ahead of our original business plan. John leaves at a time
when the Company is profitable and debt-free, with a healthy balance
sheet. We wish him the best.''
"We are very
pleased to have Darrel as our Interim Chief Financial Officer. Darrel
is an extremely capable financial executive who understands our business
well and we are confident that the transition to his leadership will
be virtually seamless," added Mr. Aalaei.
Centillium Communications, Inc. is combining technical innovation and
customer commitment to make broadband communications a market reality.
Centillium Communications consistently delivers value to its customers
by providing broadband networking systems for applications across all
market segments. The company designs and markets communications chipset
solutions for central office equipment, digital loop carrier (DLC) line
cards, and customer premise equipment for Digital Subscriber Line (DSL),
Voice over Packet (VoP) and Premise Networking. The Centillium Communications
headquarters are located at 47211 Lakeview Blvd., Fremont, CA 94538.
Additional information is available at www.centillium.com.
Forward Looking Statements
Except for historical information contained in this press release, the
foregoing contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially from those indicated
by such forward-looking statements based on a variety of risks and uncertainties,
including the risks and uncertainties relating to actual quantities
and timing of any orders received under the contract and the successful
development and market acceptance of Centillium's new products. The
company assumes no obligation to update these forward-looking statements
to reflect events or circumstances after the date hereof. Information
about potential factors that could affect Centillium's financial results
is included in Centillium's Annual Report on Form 10-K and most recent
Quarterly Report on Form 10-Q, available for viewing on the Securities
and Exchange Commission's website at www.sec.gov.
Communications and the Centillium logo are trademarks of Centillium
2001 Centillium Communications, Inc. All rights reserved. All other
products or service names mentioned herein are the property of their