STEC Adds Investment Banker To Board

Santa Ana-based STEC, a manufacturer of solid state disk drives, said this week that it has named investment bank Chris Colpitts as a board member. Colpitts is Managing Director and Global Head of Technology Investment Banking at Deutsche Bank, and was previously Managing Director and Global Head of Electronics Investment Banking at Lehman Brothers. According to STEC, Colpitts replaces James J. Peterson, who has resigned from the board effective today. Peterson is CEO and President of Microsemi; the reason for his resignation was not given.