Exar President and CEO, Pete Rodriguez, Signs New Three Year Employment Agreement

FREMONT, Calif., March 22 /PRNewswire-FirstCall/ -- Exar Corporation (Nasdaq: EXAR) today announced that Pete Rodriguez, Exar's President and Chief Executive Officer, has signed an extended new three-year agreement with the Company.

"In just two years, Pete has transformed Exar; the Board of Directors and I are very pleased to extend his contract for three more years," said Richard L. Leza, chairman of Exar's Board of Directors.  "Pete is a visionary leader and has grown a great deal in a short time, while at Exar.  We are confident that Pete will continue to lead the company into new levels of business success and increasing shareholder value as Exar moves from a value company into a high growth company."  

"I am pleased with the confidence that the Board has shown in me and the opportunity to continue my role at Exar," said Pete Rodriguez.  "This is an exciting time at Exar; we have accomplished a great deal, but we still have a lot more to do.  I remain strongly committed to moving the Company forward into solid growth, profitability and leadership positions in the markets we serve."  

George Apostol was promoted to Executive Vice President, Engineering and Operations and will continue his current role as Exar's CTO.  Mr. Apostol will now expand his focus to Exar's worldwide Engineering, Operations, and IT teams, leading efforts in product definition, design, manufacturing, and infrastructure to further enhance Exar's core technical competencies.  This is especially important as Exar moves to providing systems solutions developing SoC, board-level, and applications software products.  

Paul Pickering was promoted to Executive Vice President, Sales and Marketing from Senior Vice President of Marketing.  Mr. Pickering's responsibilities will expand to include both Sales and Marketing organizations providing a unified structure to engage customers and define products while expanding Exar's focus on strategic engagements that drive growth.

Messrs. Apostol and Pickering will continue to report to Pete Rodriguez.  

About Exar

Exar Corporation delivers highly differentiated silicon, software and subsystem solutions for data communication, storage, consumer and industrial applications.  For nearly 40 years, Exar's comprehensive knowledge of end-user markets along with the underlying analog, mixed signal and digital technology has enabled innovative solutions that meet the needs of the evolving connected world.   Exar's product portfolio includes power management and interface components, communications products, storage optimization solutions, network security and applied service processors.  Exar has locations worldwide providing real-time customer support to drive rapid product development.  For more information about Exar, visit: www.exar.com.

SOURCE Exar Corporation

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