Lantronix (LTRX) Announces CFO Departure

Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and connectivity IoT solutions, today announced the resignation of Chief Financial Officer (CFO) Jeremy Whitaker, who has accepted the CFO role at a private company. Whitaker departed on September 13, 2024.

Brent Stringham, currently the company’s Controller, is appointed Interim CFO while the company conducts a search for the next CFO. Stringham, an experienced financial leader, has been with Lantronix since 2012. He brings deep institutional knowledge and extensive financial expertise to the role. Prior to joining Lantronix, Brent held financial leadership positions at Iteris Inc., Netlist Inc., and Ernst & Young.

In addition, David McLennan, former CFO of Sierra Wireless Inc., who retired in 2020, has been engaged to provide consulting and advisory support during the transition. McLennan brings a proven track record of driving growth, international expansion, and financial stability during his tenure at leading technology companies.

Saleel Awsare, CEO of Lantronix, expressed confidence in the company's financial future: "Lantronix is positioned for financial success with the skilled leadership of Brent and David. I want to personally thank Jeremy for his 18 years of dedication and exceptional contributions, and I wish him great success in his new role.”

Jeremy Whitaker, outgoing CFO, commented: "In choosing to depart at this time I have balanced the need to complete the year-end results at Lantronix, with the pressing needs of my new position. It has been a privilege to contribute to the transformation of Lantronix into a global IoT leader. As I take on this new opportunity, I leave knowing the company is in excellent hands, with a strong financial foundation."

With this leadership transition plan in place, Lantronix remains firmly committed to delivering shareholder value and advancing its strategic objectives as a global leader in the IoT industry.

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