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Ramtron CEO Resigns, Ramtron Board of Directors Names Eric A. Balzer to Lead Company as CEO

^{Published on 2011-01-26 05:40:31 - Market Wire}
 

COLORADO SPRINGS, Colo.--([ BUSINESS WIRE ])--U.S. semiconductor maker Ramtron International Corporation (Nasdaq: RMTR), a leading developer and supplier of ferroelectric-based low-power memory and integrated semiconductor products, today announced that effective January 24, 2011, Ramtrona™s Board of Directors has accepted the resignation of Ramtron CEO, Bill Staunton. Eric A. Balzer, Ramtrona™s current CFO and a member of the companya™s board, has been named CEO. Mr. Balzer will retain the title and responsibilities of CFO until a replacement is named. The Board has initiated a search for a new chief financial officer.

"Among my top priorities at Ramtron will be to drive the completion of our foundry transition while I work to optimize Ramtrona™s operation for best-in-class product design, development and delivery with superior financial performance."

aOn behalf of Ramtrona™s entire board, I would like to thank Bill for his outstanding contribution to Ramtron since he joined the company in 2001,a said Ramtron Chairman, William Howard. aBill has been instrumental in commercializing Ramtrona™s ferroelectric memory technology and moving Ramtron from its pre-commercial stage to a growing semiconductor product company. Looking toward the future, we are eager to tap Erica™s vast operational and financial experience to lead Ramtrona™s next phase of product innovation and growth.a

aI enthusiastically embrace the opportunity to lead Ramtron to its future growth and profitability,a said Eric Balzer, Ramtrona™s CEO. aAmong my top priorities at Ramtron will be to drive the completion of our foundry transition while I work to optimize Ramtrona™s operation for best-in-class product design, development and delivery with superior financial performance.a

Mr. Balzer, 62, became Ramtrona™s CFO in 2004 and has been a director of Ramtron since 1998. He also served on Ramtron's audit committee from 1999 to 2004. Prior to his tenure at Ramtron, Mr. Balzer served as senior vice president of operations for Advanced Energy Industries, Inc., which develops, manufactures and markets power conversion devices for the semiconductor equipment industry. Earlier, Mr. Balzer held operations and finance positions at IBMa™s Corporate Systems Technology Division, VP of finance and administration for Lewis Energy, as well as accounting manager and internal auditor for Shell Oil. Mr. Balzer holds a bachelorsa™ degree in Finance from the University of Colorado.

About Ramtron

Ramtron International Corporation, headquartered in Colorado Springs, Colorado, is a fabless semiconductor company that designs, develops and markets specialized semiconductor memory, microcontroller and integrated semiconductor solutions used in a wide range of product applications and markets.

Safe Harbor Statement

aSafe Harbora Statement under the Private Securities Litigation Reform Act of 1995: Statements herein that are not historical facts are aforward-looking statements.a These forward-looking statements involve risks, uncertainties and assumptions that could cause actual outcomes and results to differ materially from those indicated by these forward-looking statements. Please refer to Ramtrona™s Securities and Exchange Commission filings for a discussion of such risks. The forward-looking statements in this release are being made as of the date of this report, and Ramtron expressly disclaims any obligation to update or revise any forward-looking statement contained herein.