Comms chips

Dissident Investor Takes Marvell Board Chair

A month after Marvell's CEO and its president -- husband and wife team Sehat Sutardja and Weili Dai, respectively -- left their jobs, the new power at the company was revealed. Richard S. Hill was elected chairman of the company's board. (See Troubled Marvell's CEO, President Both Sidelined.)

The company stated that "Hill was selected to the position based on his decades of practical experience and technology leadership."

Be that as it may, it probably didn't hurt that Hill is also a principal in Starboard Value, the dissident investment company that took a significant minority position in Marvell in February. (See Activist Investor Latches On to Marvell.)

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Hill currently is also chairman of Tessera Technologies, another company in which Starboard Value holds a significant minority stake. Prior to getting involved with Starboard, for 19 years through to 2012, Hill had been CEO at Novellus Systems.

Hill said, "I look forward to working closely with the company's board and shaping the direction of Marvell moving forward. We will continue to focus on our core businesses as well as new market opportunities."

The company is still conducting an executive search to replace founders Sutardja and Dai, who retain seats on Marvell's board.

— Brian Santo, Senior Editor, Components, T&M, Light Reading

inkstainedwretch 5/3/2016 | 6:31:00 PM
NASDAQ gives Marvell extension Marvell, which has failed to file an earnings report in the last year, has received yet another extension from Nasdaq to submit a filing. This extension is to next September.

-- Brian Santo
msilbey 5/3/2016 | 10:05:38 AM
Tough time for chip companies The last few years have been horrific for a lot of chip companies. As someone who only has a limited view of the space, I've seen nothing but destruction for the mid-tier players. 
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