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.
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by RTT Staff Writer
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