IRVINE, Calif. -- Broadcom Corporation (Nasdaq: BRCM) today announced that William J. Ruehle, its Senior Vice President and Chief Financial Officer, has decided to retire, effective immediately. Broadcom's Board of Directors has named Bruce E. Kiddoo to serve as Acting Chief Financial Officer on an interim basis. Mr. Kiddoo is Broadcom's Vice President and Corporate Controller.

Mr. Ruehle, 64, has served as Broadcom's CFO since June 1997 and decided to accelerate his retirement as a result of Broadcom's previously-announced equity award review.

Scott A. McGregor, Broadcom's President and Chief Executive Officer, said: "Today we launched a global search for a world class CFO to step into the shoes of Bill Ruehle and help build value for Broadcom and its shareholders. Bruce Kiddoo will be a serious contender for the position. Bill has built an extremely strong financial team here at Broadcom, and we are confident that Bruce and his colleagues will maintain and further enhance that strength in the months and years to come."

Henry Samueli, Broadcom's Chairman, Co-Founder and Chief Technical Officer, added: "When we decided to take Broadcom public, Bill Ruehle was our first choice for the job of CFO. We valued his many years' experience with technology companies and his deep understanding of the public equity markets. Bill has been a true leader, helping build Broadcom into a solid, lasting business and a powerhouse in the semiconductor industry. We thank Bill for his many years of service to Broadcom."

Broadcom Corp. (Nasdaq: BRCM)