UTStarcom finishes strategic alternatives process; China head leaves

By Lisa Kerner

Charlotte, N.C., June 4 - UTStarcom, Inc. said the executive vice president and chief executive officer of UTStarcom China, Ying Wu, has left the company following the evaluation of strategic alternatives.

"In the course of analyzing our strategic alternatives over the last several months, it has become apparent that there are differing opinions regarding the company's strategy to enhance shareholder value," chief executive officer Hong Lu said in a company news release.

Lu will lead the company's China operations on an interim basis while continuing in his current role at UTStarcom.

"After careful consideration of a number of short- and long-term alternatives, we have determined that our best course of action is to move forward with the company as it exists today," board chairman Thomas Toy said in a company news release.

"Our stated goal when we commenced the strategic alternatives process in October 2006 was to explore potential options to maximize the company's value for UTStarcom's shareholders. In exploring those alternatives, we concluded that the optimal means of enhancing shareholder value is to focus our efforts on returning the company to profitability by building on the opportunities we have developed in key markets around the world."

UTStarcom, based in Alameda, Calif., provides IP-based, end-to-end networking solutions and service and support.

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