UTStarcom Founder, Chairman Resigns

The founder and chairman of IP equipment maker UTStarcom (UTSI) has resigned from the board of directors.

Hong Liang Lu will continue to serve on the board while Peter Blackmore will maintain his position as president and CEO. Lead Director Thomas Toy will become chairman, UTStarcom said.

UTStarcom, which sells through channel partners, is scheduled to announce its second-quarter earnings on Thursday.