Lantronix Inc. (NASDAQ: LTRX) (the “Company”), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced that Christa Steele is joining the Company’s Board of Directors as an independent director, effective Jan. 24, 2024. Following the appointment of Steele, the Board will be comprised of six directors, five of whom are independent under applicable listing standards of the Nasdaq Stock Market.
“We are very pleased to welcome Christa Steele to the Lantronix Board of Directors,” said Saleel Awsare, CEO and president of Lantronix. “Lantronix will benefit greatly from her extensive experience, including positions as CEO and board member for public and privately held companies for which she helped drive successful outcomes.”
“In addition to being a seasoned board director, Christa has a proven track record of delivering strategies that support revenue growth, improved profitability, and shareholder value creation. She will be a valuable addition to the Lantronix Board of Directors,” said Jason W. Cohenour, chairman of the Board for Lantronix.
Steele is an experienced CEO and board member, having served with public and privately held companies with revenues of up to $1 billion. In addition to the Lantronix Board of Directors, she also currently serves on the boards of Velocity Risk, The Doctors Company and Tanimura & Antle.
In early 2022, Steele was appointed interim CEO for Balco Holdings Inc., parent company of Bay Alarm, Bay Alarm Medical and BALCO Properties, with 1,200 employees and revenues in excess of $250 million. She successfully completed the divesting of company assets by the end of 2022. Prior to Balco Holdings Inc., she was president and CEO of Mechanics Bank, where, during her tenure, core earnings improved, the stock price doubled and the company was sold for a premium in 2015.
Steele holds an MBA from The Marshall School of Business at the University of Southern California and a Bachelor of Arts from California State University Sacramento.
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