Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced data and security deployment solutions for flash, flash-memory based intelligent devices and microcontrollers, announced that Mr. Edward Smith has joined the Board of Directors of Data I/O, effective February, 23, 2022. Mr. Smith is the CEO of SMTC Corporation, a global Electronics Manufacturing Services (“EMS”) provider focused on partnering with leading original equipment manufacturers and emerging technology companies to provide the full range of end-to-end EMS services, from prototyping and design, to manufacturing and logistics. The addition of Mr. Smith expands Data I/O’s Board of Directors to 6, with 5 members being independent.
Mr. Smith is a globally recognized leader in the electronics and semiconductor distribution industries. As CEO of SMTC since 2017 when it was publicly traded on Nasdaq, he led the company through 3 years of growth including a series of acquisitions until being acquired by an affiliate of H.I.G. Capital in 2021. Mr. Smith is a seasoned and successful executive with more than 25 years’ experience in the EMS industry and the electronic components distribution industry. Prior to joining SMTC, he served as President of Avnet Inc. for 7 years and held various other senior positions since 1994.
At Avnet, he grew the Americas component operations from $1.2 billion to $4.0 billion, and started a global embedded business which grew to $2.2 billion in 7 years. Earlier, Mr. Smith served as President and Chief Executive Officer of SMTEK International Inc., a tier II manufacturer in the EMS industry, from 2002 to 2004. Under his leadership, SMTEK’s share price increased from $0.35 to $15.23 when it was acquired. Mr. Smith also has gained extensive corporate governance experience while serving on a number of boards as a director. He is the founder and currently runs the We Will Never Forget charitable foundation in honor of the victims and first responders of the attacks on 9/11.
“Ed Smith’s appointment to our Board of Directors expands our end markets, financial markets, and corporate governance knowledge and capabilities on the Board,” said Anthony Ambrose, President and CEO of Data I/O Corporation. “We stand to benefit on multiple levels as Ed has proven experience in returning value to shareholders as the CEO of a Nasdaq listed company, has led, bought and sold multiple companies in the semiconductor and electronics distribution industries, and has professional ties throughout the world that we will leverage to accelerate our marketing strategies. All of these qualities make him an excellent addition to the Board for Data I/O.”
“I am very pleased to have been appointed to the Board of Data I/O,” said Ed Smith. “Having been in the industry for more than 25 years, I have worked with Data I/O’s technology many times and have learned first-hand of its superior data programming and secure provisioning technologies. I look forward to working with the Board and the management team to drive substantial growth and advance its leadership globally.”