Lantronix, a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware, today announced that it has created an Advisory Board to enhance the Company’s strategic development, acquire additional expertise of industry leaders, and enable former members of the Board or the Company’s management to continue to make significant contributions to the Company. Bernhard Bruscha, Lantronix’s current Chair of the Board, has decided to retire November 2021 and not to stand for re-election to the Company’s Board of Directors at the Company’s 2021 annual meeting of stockholders, currently scheduled for November 9, 2021 (the “Annual Meeting”). He will continue to support the Company by agreeing to serve as the Advisory Board’s first member and Chair, effective November 9, 2021.
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Bruscha founded Lantronix in 1989. He has served as Chair of the Board from June 1989 to May 2002 and from May 2012 to the present and has served as a member of the Company’s Board continuously since August 2007. Bruscha is a serial entrepreneur who started his career in the 1970s, as one of three founding partners in a computer networking software company and for more than 20 years has successfully founded, grown and sold or merged several technology and other companies.
“Bernhard’s leadership has helped shape Lantronix for over 20 years. He has been a tremendous Board member, providing extensive business and leadership experience that will no doubt continue to have a lasting impact,” said Paul Pickle, President and Chief Executive Officer. “Bernhard’s contributions to Lantronix and to the Board throughout his tenure have been invaluable. On behalf of Lantronix’s senior management and our Board, we are grateful for Bernhard’s contributions and we are excited that Bernhard will continue to provide strategic guidance and support the Company’s growth as part of our newly-formed Advisory Board.”
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“I am very pleased to have been asked to serve on the Advisory Board and to continue to support strategic planning for Lantronix,” said Bruscha. “I believe the Advisory Board will help strengthen Lantronix’s ability to deliver turnkey solutions to its customers and to capitalize on the significant momentum we are carrying into this fiscal year.”
In addition, Lantronix today announced that it intends to select Dr. Heidi Nguyen as a nominee for election by stockholders at the Annual Meeting. Dr. Nguyen, as Vice President of TL Investment, GmbH, is expected to continue to represent TL Investment, GmbH as a continuing major stockholder of Lantronix. Dr. Nguyen is Mr. Bruscha’s spouse.
Dr. Nguyen is an Associate Faculty and Subject Matter Expert at Malcolm Baldrige School of Business Graduate, Post University, Minnesota, a position she has held since 2013. Dr. Nguyen has served as Vice President of TL Investment, GmbH since 2013 and as director since 2005. She was previously an Associate Professor and Subject Matter Expert at ESB Business School Reutlingen University in Reutlingen, Germany from May 2013 to July 2017. Dr. Nguyen holds a Ph.D. from Capella University, Minnesota, an M.B.A. in Finance from California Polytechnic University, Pomona, and a B.S. in Accounting from California State University, Los Angeles.