Santa Barbara, CA, 24 January 2007:
Superconductor Technologies,
Inc.(Nasdaq: SCON),
a leading provider of high performance infrastructure products for wireless
voice and data applications, today announced the appointment of David
Vellequette, 50, to its board of directors effective January 18, 2007. With the
addition of Vellequette, STI's board has seven members.
"Dave's extensive financial experience and
telecommunications industry relationships will be invaluable to STI as we
continue to drive forward our solutions-focused growth strategy. I am thrilled
to welcome him to our board," said Jeff Quiram, STI's president and chief
executive officer. "I feel confident his unique insights and perspective will
help guide STI to the next stage of its growth and evolution."
Vellequette will serve on the Audit Committee,
the Governance and Nominating Committee, and the Executive Committee. He is also
designated STI's financial expert as defined by SEC and NASDAQ guidelines.
"STI has a growing product portfolio and
expanding customer base which positions the company well, I believe, to
capitalize on the continuing growth of advanced wireless networks," said
Vellequette. "I am impressed with management's success to date in providing
innovative solutions to the wireless carriers and believe there is significant
opportunity to leverage its technology for additional success in the wireless
communications market."
Vellequette currently serves as chief financial
officer of JDSU, a position he has held since June of 2005. As CFO of JDSU,
Vellequette has played an integral role in improving the company's profitability
metrics through an extensive program of cost reductions. During his tenure, and
in support of JDSU's strategic objective to diversify its revenue, both organic
growth and acquisition have contributed to annual revenue growth of more than 70
percent. He joined JDSU as vice president and operations controller in July
2004. Prior to joining JDSU, Vellequette was vice president of worldwide sales
and service operations at Openwave Systems. Between 1992 and 2002, Vellequette
held increasingly responsible positions at Cisco Systems, first as corporate
controller of StrataCom Corporation (acquired by Cisco in 1996) and later as
vice president of finance supporting the multi-billion dollar service provider
line of business. From 1984 to 1992, Vellequette was controller at Altera
Systems. After graduating from the University of California, Berkeley with a
B.S. in Accounting, Vellequette started his finance career as an auditor with
Ernst and Young, where he became a Certified Public Accountant.
About STI
STI, headquartered in Santa Barbara, CA, is a
leading provider of high performance infrastructure products for wireless voice
and data applications. STI's SuperLink(R) solution increases capacity
utilization, lowers dropped and blocked calls, extends coverage, and enables
faster wireless data rates. Its AmpLink(TM) solution enhances the performance of
wireless base stations by improving receiver sensitivity and geographic
coverage.
SuperLink and AmpLink are trademarks of
Superconductor Technologies Inc. in the United States and in other countries.
For information about STI, please visit
www.suptech.com.