iWatt appoints Ray Wallin as CFO

LOS GATOS, Calif., Jan. 22, 2003 — iWatt Inc., a power management IC company developing and marketing digital controllers for power supplies, on Wednesday announced the appointment of Ray Wallin as Chief Financial Officer.

Prior to iWatt, Wallin served as the CFO at Kendin Communications, Inc., a Gigabit Ethernet networking company, where he directed all legal and financial activity. Wallin positioned Kendin for its acquisition by Micrel, continuing on with Micrel to manage Micrel Treasury.

Wallin also served as founding CFO at ShopEaze, an outsourced online shopping solutions provider, where he raised $26M in two rounds establishing significant valuation from well-known venture capital firms. Before ShopEaze, as CFO at Junglee, Wallin directed all financial, legal, and human resources activity resulting in the sale of the e-commerce company to Amazon.com.

Ray also held other CFO and financial leadership positions in high-tech companies such as Vadem (a fabless semiconductor company), Cirrus Logic, Chips & Technologies, Rolm, and Raychem.

“With his background as CFO successfully leading numerous early stage companies through investment rounds, acquisitions, and IPO positioning, Ray has the financial acumen we need to lead the financial affairs of iWatt,” said Michael Pawlik, CEO of iWatt. “His work in the semiconductor industry makes him an excellent addition to our management team.”

“iWatt is an exciting growth company with unique digital technology that will revolutionize the power management industry,” said Ray Wallin, CFO of iWatt. “I’m looking forward to joining an excellent executive team and guiding the financial growth of this company.”

Wallin earned an M.B.A. in Finance from the University of Chicago and a B.S. in Economics University of Oregon.

About iWatt

iWatt, Inc. is a power management IC company that designs, develops and markets semiconductors for computer, communications and consumer markets. The company’s patented pulseTrainà¢â€ž- technology is revolutionizing power supply design by introducing the industry’s first truly digital approach to power system regulation, control and management.

The company’s pulseTrain technique is compatible with all power supply topologies and is used in AC/DC, DC/DC and battery-operated systems. iWatt is headquartered in Los Gatos, California, in the heart of Silicon Valley. For more information, visit http://www.iwatt.com, call iWatt at 408/374-4200, or email info@iwatt.com.


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