Mindspeed Announces Stephen N. Ananias as Senior Vice President and Chief Financial Officer

Mindspeed Announces Stephen N. Ananias as Senior Vice President and Chief Financial Officer

Accomplished Communications Semiconductor Finance Executive Assumes CFO Role

Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that Stephen N. Ananias will assume the role of senior vice president and chief financial officer of the company effective October 31, 2011. Ananias joins the company from Broadcom Corporation (NASDAQ: BRCM), where he served for more than 11 years in various finance positions of increasing responsibility, most recently as controller, Broadband Communications Group, a $2 billion semiconductor division of Broadcom. Ananias will report directly to Raouf Y. Halim, Mindspeed’s chief executive officer.

"We are delighted to appoint a new chief financial officer of Stephen’s caliber with a demonstrated management track record in the semiconductor industry. Stephen has a compelling combination of strategic planning and corporate development expertise, with a proven record of driving operating profitability," said Halim. "I look forward to working closely with Stephen as we pursue the growth opportunities ahead of us in next generation communications infrastructure markets."

"Mindspeed is undergoing an exciting transformation, with its successful entrance into the wireless infrastructure market," said Ananias. "I am grateful to join the high-performance team at Mindspeed at this stage of its growth, and will focus on improving the company’s financial position and operating leverage."

Ananias has a 14-year track record of financial management responsibility at Broadcom and at LSI Corporation (NYSE: LSI). During his career at Broadcom, Ananias served as director of corporate development and strategic planning for five years before assuming the role of controller, Broadband Communications Group.

Ananias received a bachelor of business administration degree and a bachelor of science degree from the University of Kentucky, and a master of business administration degree from the Marshall School of Business at the University of Southern California.

About Mindspeed Technologies

Mindspeed Technologies (NASDAQ: MSPD) is a leading provider of network infrastructure semiconductor solutions to the communications industry. The company’s low-power system-on-chip (SoC) products are helping to drive video, voice and data applications in worldwide fiber-optic networks and enable advanced processing for 3G and long-term evolution (LTE) mobile networks. The company’s high-performance analog products are used in a variety of optical, enterprise, industrial and video transport systems. Mindspeed’s products are sold to original equipment manufacturers (OEMs) around the globe.

To learn more, please visit www.mindspeed.com. Company news and updates are also posted at www.twitter.com/mindspeed.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include statements regarding the company’s expectations, goals or intentions, including but not limited to, statements regarding: Mr. Ananias’ financial expertise and ability to influence operating results; our entrance into the wireless infrastructure market; our financial position and operating leverage; and growth opportunities. These forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about the company and are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to: fluctuations in our operating results and future operating losses; constraints in the supply of wafers and other product components from our third-party manufacturers; worldwide political and economic uncertainties and specific conditions in the markets we address; fluctuations in the price of our common stock; loss of or diminished demand from one or more key customers or distributors; successful development and introduction of new products; our ability to attract and retain qualified personnel; doing business internationally and our ability to successfully and cost effectively establish and manage operations in foreign jurisdictions; cash requirements and terms and availability of financing; the expense of and our ability to defend our intellectual property against infringement claims by others; pricing pressures and other competitive factors; lengthy sales cycles; order and shipment uncertainty; our ability to obtain design wins and develop revenues from them; product defects and bugs; business acquisitions and investments; and our ability to utilize our net operating loss carryforwards and certain other tax attributes. Risks and uncertainties that could cause the company’s actual results to differ from those set forth in any forward-looking statement are discussed in more detail under "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in the company’s Quarterly Report on Form 10-Q for the quarter ended July 1, 2011, as well as similar disclosures in the company’s subsequent SEC filings. Forward-looking statements contained in this press release are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Editorial Contact:
Magnet PR Group
Lisa Briggs, 949-305-5131
lisab@magnetprgroup.com
or
Investor Relations Contact:
Mindspeed Technologies, Inc.
Andrea D. Williams, 949-579-3111