The reconfigured board at Marvell Technology Group is moving rapidly to repopulate management offices while paying dividends and announcing products, providing some assurance the company is fundamentally sound despite its failure to produce a financial statement for more than a year. (See Dissident Investor Takes Marvell Board Chair.)
Marvell Technology Group Ltd. (Nasdaq: MRVL) is still struggling to sort out accounting irregularities that date back more than a year. Nasdaq has given the company a filing extension that won't elapse until September 6, but the company and the exchange are wrangling about whether the company should be delisted in the meantime.
In recent weeks, Marvell has named an executive vice president of marketing and sales, a senior vice president of sales, a chief operating officer and today announced a new CEO.
The new CEO is Matthew J. Murphy, who will also be president and member of the board of directors. He'll start the new job in two weeks. Murphy comes from Maxim Integrated Products Inc. (Nasdaq: MXIM), where he held several positions over the last 22 years, most recently serving as executive vice president of business units in sales and marketing.
Marvell has also appointed Chris Koopmans as executive vice president of marketing and sales. Koopmans will also be driving a newly created Program Management Office "to help empower greater efficiency in the Company's overall product and R&D roadmaps," according to the company. Koopmans joins Marvell from Citrix Systems, where he was vice president and general manager of service provider platforms since 2012.
Andy Micallef, the new chief operations officer, comes to Marvell from Intersil, where he was senior vice president of operations for nearly a year and half. Prior to that he worked at Audience, LSI Corp. and Agere Systems.
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Marvell also hired Willem Meintjes as senior vice president of finance. Meintjes' experience has been with Newport Corp., International Rectifier and Deloitte and Touche.
On the business side of things, the company has released a series of new products, including two switches for campus applications and a device to expand the capabilities of WiFi networks.
The new switch is optimized for 24- and 48-ports of 2.5 Gigabit Ethernet (GbE), and has dedicated 10GbE and 40GbE uplinks and stacking ports. The devices offer wire speed packet processing bandwidth of 168Gbps in an optimized and compact footprint, and are now available for sampling, the company said.
The Marvell 98DX83xx 10 Gigabit Ethernet (GbE) Campus aggregation switch have fan-out 10GbE and 40GbE Ethernet ports. The device is another in the company's Prestera DX family.
The company has added Dynamic Multi-Hop Relay technology to its WiFi portfolio. DMHR, when integrated with Marvell's Avastar wireless connectivity devices (88W8887, 88W8997 and 88W8977), enables WiFi devices to extend wireless coverage by intelligently linking and sharing data or audio/video in a daisy chain topology.
— Brian Santo, Senior Editor, Components, T&M, Light Reading