Vitesse Names New Chief Financial Officer

Vitesse Semiconductor Corp. has appointed a veteran financial executive as its new chief financial officer. Martin S. McDermut replaces Rich Yonker, who had served as CFO at Camarillo-based Vitessse since 2006. McDermut has more than 25 years of financial management experience including finance, accounting, auditing, general management, capital markets and investor relations. He was managing director of Avant Advisory Group, CFO at Iris International Inc. and Superconductor Technologies Inc., and a partner at Coopers & Lybrand, now known as PricewaterhouseCoopers LLP. McDermut’s background brings a wealth of experience and a solid financial skill set to Vitesse, said company CEO Chris Gardner. “I look forward to partnering with Marty to achieve our financial and strategic objectives as we embark on our next phase of growth,” Gardner said. “I am very pleased to be joining Vitesse at this important stage in the Company’s corporate development,” McDermut added. “I believe the Company has strong growth potential and I’m proud to be a member of such a strong management team.”