UTStarcom announced that Mr. Min Xu, the company's Chief Financial Officer, has resigned to accept a position with another company. Mr. Xu will continue in his role at the Company until November 11, 2016 and will remain available in an advisory capacity until May 2017. The company also announced that Mr. Eric Lam joined the company as the Vice President of Finance, reporting to the Chief Executive Officer.

Mr. Lam is a seasoned technology and finance executive with nearly 40 years of business experience. Prior to rejoining UTStarcom, he served as a special advisor to Shanghai Phicomm Communications.