Entropic Prez/COO Resigns
Entropic Communications announces management change
January 14, 2008
SAN DIEGO -- Entropic Communications, Inc. (Nasdaq:ENTR) today announced that Mark Foley has decided to leave the company to pursue other interests. Foley, who has been with Entropic since its acquisition of RF Magic in June 2007, will resign his position as President and Chief Operating Officer effective January 11th, 2008. Patrick Henry, Entropic's Chief Executive Officer and Chairman of the Board, will assume Foley's duties.
In announcing his departure, Foley stated, "It has been a tremendous seven plus years: co-founding RF Magic, working with and building a world-class team, delivering several world's-first products and over the last year, helping to shepherd the company through the acquisition and IPO. In reflecting on these accomplishments at the end of the year, I believe the time is right for me to pursue other opportunities.
As an RF Magic founder, an Entropic shareholder and with so many friends and colleagues at the company, I remain fully committed to doing what I can to support the ongoing success of Entropic."
"I would like to thank Mark for his contributions to the integration of Entropic and RF Magic following the acquisition," said Patrick Henry, Chairman of the Board and CEO. "Mark has helped lay the foundation for the combined company's future success and has been instrumental in scaling our operations and quality systems. All of us at Entropic wish him the best of luck in his future endeavors."
Entropic Communications Inc. (Nasdaq: ENTR)
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