logo
Share SHARE
FONT-SIZE Plus   Neg

Meru Networks Appoints Bami Bastani CEO

Wireless LAN solutions provider Meru Networks (MERU: Quote) said Wednesday it has appointed Bami Bastani as president and chief executive officer of the company, effective immediately.

Bastani will also be joining the board of directors.

Bastani previously served as CEO at Trident Microsystems, Inc. and Anadigics, Inc. He had also served in executive postions in Fujitsu Microelectronics, National Semiconductor and Intel Corporation.

In connection with his appointment, the compensation committee of Meru's board of directors awarded Bastani a non-qualified stock option to purchase 0.6 million shares of Meru's common stock and 0.1 million restricted stock units pursuant to its 2012 Equity Inducement Plan, which is a non-restricted stockholder approved plan.

This stock option was granted to Bastani on March 21, 2012 and has a exercise price equal to the closing price of Meru's common shares on the Nasdaq on such date.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet video service Sling TV, on Wednesday said HBO would be available in time for the "Game of Thrones" and "Silicon Valley" season premieres on April 12, but did not specify a launch date. Memory chip maker Micron Technology, Inc. said Wednesday after the markets closed that its second quarter profit rose 28% from last year, helped by higher sales and lower income tax expenses. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly sales. Apple Watch is expected to post robust sales in the first weekend after its launch on April 24. A craze for Apple Watch may catapult the smartwatch industry into a lucrative market, while a not-so-impressive response for the Apple device may weigh on the industry.
comments powered by Disqus
RELATED NEWS
Trade MERU now with 
Follow RTT