x

Posted 30 May, 2023

LANTRONIX INC appointed new CEO

CEO Change detected for ticker Nasdaq:LTRX in a 8-K filed on 30 May, 2023.


  Resignation of Chief Executive Officer  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of LANTRONIX INC
Technology • Networking
Lantronix, Inc. engages in the provision of software as a service (SaaS), engineering services, and hardware for Edge Computing, the Internet of Things (IoT), and Remote Environment Management (REM). Its products and solutions include IoT, REM and Other. The company was founded by Bernhard Bruscha in June 1989 and is headquartered in Irvine, CA.
Market Cap
$149M
View Company Details
LANTRONIX INC by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


Resignation of Chief Executive Officer


On May 25, 2023, Paul Pickle informed the Board of Directors (the "Board") of Lantronix, Inc. (the "Company") that he will be resigning from his roles as President and Chief Executive Officer of the Company and as a member of the Board to pursue another opportunity as the chief executive officer of Semtech Corporation. Mr. Pickle's resignation will be effective as of a date, yet to be determined, between June 8, 2023 and June 29, 2023. Until the effective date of his resignation, Mr. Pickle will continue in his current officer and director roles while the Company conducts a search for a new Chief Executive Officer.


Provisional Appointment of Interim Chief Executive Officer


On May 30, 2023, the Company announced that, if a new Chief Executive Officer has not been appointed by Mr. Pickle's last day with the Company, Jeremy Whitaker, age 53, will serve as interim Chief Executive Officer of the Company until the appointment of a new permanent Chief Executive Officer. Mr. Whitaker will continue to serve as Chief Financial Officer of the Company, a position he has held since September 2011. Before joining the Company as Chief Financial Officer, Mr. Whitaker served as Vice President, Corporate Controller at Mindspeed Technologies, a supplier of semiconductor solutions for network infrastructure applications, from January 2011 to September 2011. Prior to that, Mr. Whitaker served in a number of finance and accounting roles at Lantronix, including as Vice President of Finance and Accounting from September 2010 to January 2011, where he was responsible for managing all worldwide finance and accounting functions, as well as Senior Director of Finance and Accounting from February 2006 to September 2010 and Director of Finance and Accounting from August 2005 to February 2006. Prior to that, Mr. Whitaker held vice president and director level finance and accounting positions with two publicly-traded companies and worked in the assurance practice at Ernst & Young LLP for six years.