Agere has appointed Richard L. Clemmer as president and chief executive officer, effective immediately

October 26, 2005

2 Min Read

Allentown, Pa. -- Agere Systems (NYSE: AGR) today announced that its board of directors has appointed Richard L. Clemmer as president and chief executive officer, effective immediately. Clemmer, who has served on Agere’s board of directors since October 2002, will remain a director of the company. He succeeds John Dickson, 59, who has decided to retire.

Clemmer, 53, has more than 30 years of experience in the technology industry, where he has held a variety of executive, financial and management positions. Since June 2004, he has been a partner at Shelter Capital Partners, a private investment fund focused on technology startups. He became chairman of uNav Microelectronics, an emerging global positioning systems chipset company in 2003. Previously, Clemmer held executive management positions at Quantum Corp., a provider of hard disk drives and other storage solutions, and spent more than 20 years at Texas Instruments, serving as senior vice president and chief financial officer of the company’s Semiconductor Group from 1988 to 1996.

H.A. Wagner, chairman of Agere’s board of directors, said, “I have had the pleasure of working side by side with Rick on Agere’s board over the past three years and have no doubt that he is the right person to take the helm at this important juncture in Agere’s evolution. In addition to the wealth of industry expertise that Rick has amassed over the course of his impressive career, his strong leadership skills, proven financial acumen and strategic problem-solving capabilities will be important assets to the company as we move forward. The entire board has full faith and confidence in his leadership, and we are committed to working closely with Rick over the coming months to ensure that he has all of the resources he needs to address the challenges and capitalise on the opportunities that lie ahead.

“On behalf of the Agere board, I also want to thank John for the many valuable contributions he has made to the company since its spin-off from Lucent in 2001. During John’s tenure at Agere, which coincided with one of the most turbulent periods in the semiconductor industry, he transformed Agere into a customer-focused organisation, successfully navigated the company’s path to profitability and delivered a strong balance sheet. He has built an enviable customer base that leaves us well positioned for future growth,” Wagner concluded.

Agere Systems Inc.

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