WJ Communications Mourns Death of Board Member Michael E. Holmstrom
SAN JOSE, Calif., Sep. 28, 2007 - WJ Communications, Inc. (NASDAQ-WJCI), a leading designer and supplier of RF products and solutions for the wireless infrastructure and RFID reader markets, reported today that Michael E. Holmstrom, a member of the company’s Board of Directors, died on Saturday, September 22, 2007, after a courageous battle with cancer.
Mr. Holmstrom was elected to the Board of Directors in July 2004. “Mike has been instrumental in guiding WJ through the company’s turnaround”, said Bruce Diamond, President and Chief Executive Officer of WJ Communications. “As Chairman of our audit committee and member of our executive committee, Mike provided terrific oversight, council, and guidance. Mike’s extensive experience proved extremely helpful. His friendship and mentoring will be sorely missed.”
Mr. Holmstrom had over 35 years financial experience in the telecommunications industry. Most recently, Mr. Holmstrom has served as a director on several boards and provided financial consulting services. Previously he was at Electryon Inc. where he served as President until March 2002. Prior to joining Electryon as Chief Financial Officer in 2000, Mr. Holmstrom served as Senior Vice President and Chief Financial Officer at Alaska Communications Systems Group beginning in 1999. From 1998 to 1999, Mr. Holmstrom was Chief Financial Officer for Atlantic Tele-Network in the U.S. Virgin Islands. From 1996 to 1998, he was Chief Operating Officer for Spectrum Network Systems, Ltd. in Sydney, Australia. Prior to 1996, Mr. Holmstrom held numerous senior management and consulting positions including Vice President of Unregulated Operations, Chief Financial Officer and then President of CP National Corporation, Executive-in-Residence professor of business strategy at Texas A&M University, Vice President of Financial and Business Planning at Pacific Telecom, and Vice President of Finance at Alascom, Inc. Mr. Holmstrom has a B.S. in Business Administration from Gannon University.
WJ has not named a replacement for Mr. Holmstrom’s board seat, as it is currently in the search process. Mike’s role on the Audit Committee and Executive Committee has been filled by Director Cathy Lego.
About WJ Communications
WJ Communications, Inc. is a leading provider of radio frequency (RF) solutions serving multiple markets targeting wireless communications, RF identification (RFID), WiMAX, and RF power solutions. WJ addresses the RF challenges in these multiple markets with its highly reliable amplifiers, mixers, RF integrated circuits (RFICs), RFID reader modules, chipsets, and multi-chip (MCM) modules. For more information visit www.wj.com or call 408-577-6200.
WJCI Contacts:
Editorial and PR:
WJ Communications, Inc.
Claudia Lin, 408-577-6341
Claudia.Lin@wj.com
SOURCE: WJ Communications, Inc.