SANTA ANA, Calif., Feb. 11, 2005 (PRIMEZONE) -- Powerwave Technologies, Inc. (Nasdaq:PWAV) today announced that its Board of Directors has unanimously approved a succession plan that will ensure continued strong leadership at Powerwave in the years ahead. Ronald Buschur, President and Chief Operating Officer of Powerwave, today becomes President and Chief Executive Officer of Powerwave and a member of the Board of Directors. Ron joined Powerwave in 2001 as Chief Operating Officer. Bruce C. Edwards, who has been Powerwave's Chief Executive Officer since 1996, now becomes Executive Chairman of the Board. John Clendenin, who joined Powerwave's Board of Directors in May 1998 and has been non-executive Chairman of the Board since January 1999, will become Lead Director. Dag Tigerschiold is stepping down as a Director of Powerwave and Ron will be assuming his role as a Director of Powerwave.
"I want to thank the Board of Directors and particularly Bruce and John for their confidence in our plans and progress," stated Ron Buschur. "I believe Powerwave is in a very strong position to execute our 2005 plans and strategies and I am grateful for the support and confidence the Board of Directors has in our leadership team."
"As Chief Executive Officer of Powerwave for the past nine years, I viewed one of my key responsibilities was to build a leadership team that could continue to take Powerwave forward," stated Bruce Edwards. "With our demonstrated return to profitability in the second half of 2004, record fiscal 2004 revenues and strong outlook for 2005, I am in pleased to turn the Chief Executive Officer position over to someone of Ron Buschur's caliber. Having worked closely with Ron over the past four years and seeing Ron's leadership style and operational capability first hand, I know Ron and the senior management team will continue to drive Powerwave's performance. As Executive Chairman of the Board, I plan to continue to work closely with Ron and his team while focusing on Powerwave's long term strategic plan and continuing to build our relationships with our key customers and the investment community."
"Over the last six years as non-executive Chairman of Board I have worked closely with Bruce and Ron and the entire management team as they have built Powerwave to its industry leading position," stated John Clendenin. "I look forward to continuing my role on the Board of Directors and taking on the responsibilities of Lead Director."
About Powerwave Technologies
Powerwave Technologies, Inc., is a global supplier of end-to-end wireless solutions for wireless communications networks. Powerwave designs, manufactures and markets antennas, boosters, combiners, filters, repeaters, multi-carrier RF power amplifiers and tower-mounted amplifiers and advanced coverage solutions, all for use in cellular, PCS and 3G networks throughout the world. Corporate headquarters are located at 1801 E. St. Andrew Place, Santa Ana, Calif. 92705. Telephone (714) 466-1000. For more information on Powerwave's advanced wireless coverage and capacity solutions, please call (888)-PWR-WAVE (797-9283) or visit our web site at www.powerwave.com. Powerwave, Powerwave Technologies and the Powerwave logo are registered trademarks of Powerwave Technologies, Inc.
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