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Iteris, Inc. (ITI) Announces Walter McBride As Chief Financial Officer

|Includes: Iteris, Inc (ITI)

Leader in providing intelligent traffic management information solutions, Iteris announced earlier today the recruitment of Walter "Chuck" McBride to the position of chief financial officer. Effective as of December 3rd, 2013.

Prior to joining Iteris, McBride served as the CFO of SRS Labs, Inc., a publicly traded audio technology engineering company, from 2011 to 2012. While with SRS, McBride played a key role in strategic and operational planning, international and domestic compliance, as well as in mergers and acquisitions. SRS was purchased by DTS, Inc. in July of 2012 at a significant premium. McBride directed the successful merger and acquisition process.

Before his position with SRS, McBride served as a CFO for various publicly traded technology products and services companies, some of which include Capstone Turbine, a micro turbine technology solutions company; First Consulting Group, a healthcare IT services and consulting company; and Emulex Corporation, a high-speed computer networking products company. In addition, McBride served in a number of senior financial positions for private companies, such as CFO of Kistler Aerospace Corporation and CFO of Synthetic Genomics.

"Chuck brings to Iteris over 30 years of exceptional financial leadership and a proven track record of helping companies increase shareholder value," stated Abbas Mohaddes, president and CEO of Iteris. "He has extensive experience across both public and private technology companies and demonstrated his management abilities in a variety of high-level financial and operational roles. Chuck has the full confidence of our board, and he shares our vision of growing Iteris into a highly profitable, go-to market leader in the intelligent traffic management market."

"I am excited to be joining the team at Iteris and believe the company is well positioned to grow its market-leading position in intelligent traffic management," commented CFO of Iteris, Chuck McBride. "I am impressed with Iteris' advanced technologies and team of professionals, who I look forward to working with."

McBride is a current member of Financial Executives International and sits on the board of directors for CleanTECH San Diego. He has a Bachelor of Science degree in Accounting and Finance from The Ohio State University, as well as a Master's degree in Computer Systems Management from Rochester Institute of Technology in New York. In addition, he completed his director training and certification program at UCLA, Anderson School of Management.

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