Director of Finance Promoted to New Executive Position
Austin, TX – October 31, 2005 – Alereon, a leading fabless semiconductor company developing wireless solutions for the WiMedia and Wireless USB (W-USB) markets, today announced the promotion of Dirk Luthro to vice president of finance and administration. Mr. Luthro previously served as Alereon's director of finance since 2003. He will continue to provide leadership and coordinate financial and budgeting activities and will also oversee facilities and auxiliary operations including human resources and information technology.
Mr. Luthro has more than 13 years of experience with a strong background in management, finance, and accounting in the technology field. He served as Vice President of Finance at Applied Science Fiction (ASF) and was responsible for all finance and accounting activities. He played a key role in negotiating the sale of ASF to the Eastman Kodak Company in May of 2003.
Before joining ASF, Mr. Luthro held a variety of financial positions at Intel, serving as both a senior financial analyst and capital manager for the technology manufacturing group with a $400 million budget. He received several awards for his work – including the Intel Achievement Award in 1998. Mr. Luthro began his career with Merril Lynch in 1992.
"Dirk has done a remarkable job at Alereon the last two years," said Eric Broockman, chief executive officer of Alereon. "He has driven all the financial and administrative aspects of the company to this point, and has kept Alereon on strong financial footing. I look forward to his leadership as we prepare to deliver production volumes of our AL4000 wireless USB chipsets in the first quarter of 2006."
Mr. Luthro holds an MBA from the University of Texas at Austin with concentrations in finance and entrepreneurship. He received his BS in Business Management from the University of Florida.
About Alereon, Inc.
Alereon, Inc. is a fabless semiconductor company providing complete solutions for Certified Wireless USB and WiMedia ultra-wideband (UWB) applications. A technology pioneer, Alereon was first to demonstrate a WiMedia PHY running at 480Mbps in October of 2004. Alereon's products promise to replace the complex tangle of wiring used to interconnect today's consumer electronics, computer peripheral, and mobile devices with high-bandwidth, low-power, low-cost wireless links. Further information is available on the company's website: www.alereon.com.
