Marvell revamps executive team
Tuesday, June 3, 2008
Marvell followed up a strong quarter by shaking up its management team. The company, it seems to me, is taking pains to demonstrate that the bad times are behind it.
The company has a new CFO in Clyde Hosein who starts on June 23rd. Clyde brings about 25 years of finance and operations related experience in technology industries. Clyde replaces George Urioste who was Marvell's interim CFO since January 2008. George takes over as the acting COO to relieve Pantas Sutardja. Pantas will now focus on his role as the company's CTO.
Weili Dai, wife of CEO Sehat, is back in the executive team as the VP sales for the Marvell's communications and consumer business unit. Weili resigned as the company's COO last year due to stock backdating issues. She was relegated to a non-executive Director's role until the issue was resolved. As she and the company agreed to pay fines related to the SEC charges, Weili was presented with the opportunity of taking up an executive role again. The CEO wasted no time in executing on this opportunity praising Weili for her “great business acumen, strategic thinking and endless passion” while offering her the new role.
Sehat also seems to assure his employees that the bad times are over for Marvell as he mentioned this in a note to them - "Weili and I also want to take this opportunity to
thank all of you for your loyalty and support over the past 18 months. This has been a
challenging time for Marvell - and for us personally - and we truly appreciate your continued trust and all of your hard work.”
Maybe the bad times are indeed over. The company has had a good quarter, has demonstrated its commitment to expense management, has the stock backdating issue behind it, has good mobile products and design wins lined up, and has a full-fledged executive team in place. Let us wait and see if it is able to maintain this momentum.
The company has a new CFO in Clyde Hosein who starts on June 23rd. Clyde brings about 25 years of finance and operations related experience in technology industries. Clyde replaces George Urioste who was Marvell's interim CFO since January 2008. George takes over as the acting COO to relieve Pantas Sutardja. Pantas will now focus on his role as the company's CTO.
Weili Dai, wife of CEO Sehat, is back in the executive team as the VP sales for the Marvell's communications and consumer business unit. Weili resigned as the company's COO last year due to stock backdating issues. She was relegated to a non-executive Director's role until the issue was resolved. As she and the company agreed to pay fines related to the SEC charges, Weili was presented with the opportunity of taking up an executive role again. The CEO wasted no time in executing on this opportunity praising Weili for her “great business acumen, strategic thinking and endless passion” while offering her the new role.
Sehat also seems to assure his employees that the bad times are over for Marvell as he mentioned this in a note to them - "Weili and I also want to take this opportunity to
thank all of you for your loyalty and support over the past 18 months. This has been a
challenging time for Marvell - and for us personally - and we truly appreciate your continued trust and all of your hard work.”
Maybe the bad times are indeed over. The company has had a good quarter, has demonstrated its commitment to expense management, has the stock backdating issue behind it, has good mobile products and design wins lined up, and has a full-fledged executive team in place. Let us wait and see if it is able to maintain this momentum.
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