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February 25, 2010

Phoenix Technologies names new president, CEO

Grants a non-qualified inducement stock option to purchase 400,000 shares of common stock

By CBR Staff Writer

Phoenix Technologies, a provider of core systems software, has named Tom Lacey as the president and chief executive officer, effective as of February 25, 2010. Mr Lacey has also been appointed to serve as a member of the company’s board of directors.

Prior to joining Phoenix, Mr Lacey served as corporate vice president and general manager of Applied Materials’ SunFab Thin Film Solar Products since 2009, where he was responsible for all aspects of the solar thin-film production business. Prior to Applied Materials, from 2006 to 2007, Mr Lacey was president of Flextronics International’s Components Group, an 8,000 employee division that designs and sells display, power system and camera cell phone modules.

Mr. Lacey joined Flextronics in connection with the successful $300m sale to Flextronics of International Display Works (IDW), a developer of LCD displays, where he served as chairman, president and chief executive officer from 2004 to 2006. Prior to IDW, Mr Lacey had a 13 year career at Intel, where he held various management and executive positions, including vice president sales and marketing, president of Intel Americas.

According to the company, in connection with his appointment, and as an incentive to his joining, Mr Lacey was granted a non-qualified inducement stock option to purchase 400,000 shares of common stock of Phoenix, par value $0.001 per share, with an exercise price equal to $2.70, the closing sale price of the company’s stock on February 25, 2010, the grant date.

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Jeffrey Smith, chairman of the board, said: Tom brings three decades of engineering, marketing, sales and operational leadership experience to Phoenix, and has a record of driving profitability and growth in his prior roles at leading technology companies. Tom brings an extensive knowledge of Phoenix’s key customers and partners and we are confident that his leadership skills and industry relationships will drive shareholder value at Phoenix.

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