Comms chips

CEO Watch

5:30 PM -- Conexant Systems Inc. (Nasdaq: CNXT) couldn't hang onto its new CEO, and shareholders weren't too pleased.

One-time Motorola Inc. (NYSE: MOT) veteran Daniel Artusi had taken the role in July, replacing chip-industry legend Dwight Decker, who's still around as Conexant's non-executive chairman. (See Artusi to Helm Conexant.) But last night, Conexant announced Artusi was leaving for those infamous "outside opportunities" -- meaning, a better-sounding job.

In his place, board member D. Scott Mercer is stepping in, with sales VP Christian Scherp becoming president. (See Conexant Taps Mercer.)

Conexant stock fell just 7 cents, but that equates to a 13 percent drop. Shares closed at 46 cents.

In an opposite (and unrelated) vein, Juniper Networks Inc. (NYSE: JNPR) CEO Scott Kriens tripled his salary, according to the proxy statement filed with the Securities and Exchange Commission (SEC) yesterday. Cribbing numbers from the Reuters report, we see Kriens's pay package, including bonuses and stock options, totaled $7.5 million, versus $2.3 million last year.

— Craig Matsumoto, West Coast Editor, Light Reading

Pete Baldwin 12/5/2012 | 3:43:23 PM
re: CEO Watch Verso. Meant to include Verso.
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