Author: EIS Release Date: Jul 12, 2016
Chip vendor Marvell Technology Group Ltd. Monday (June 20) named former Maxim Integrated Products Inc. executive Matthew Murphy president and CEO, replacing company co-founder Sehat Sutardja, who was forced to step down in April.
Murphy was also named to Marvell’s board of directors, the company said.
Richard Hill, Marvell’s chairman, said in a statement that he was confident that Murphy’s experience would serve him well in his role with Marvell. “Our goal was to identify and retain a CEO who understands the transformation underway in the semiconductor industry and shares our commitment to serving customers with best-in-class products and support,” Hill said.
Sutardja, who co-founded Marvell in 1995 with wife Weili Dai, resigned in April under mounting pressure from activist hedge fund Starboard Value LP. Marvell has struggled for months in the wake of an accounting scandal that surfaced last year. Sutardja, who ultimately resigned as Marvell’s chairman but remains on the company’s board, also applauded Murphy’s appointment in the statement.
Murphy was quoted in the statement as saying he is honored to join the company. “I am committed to working alongside Marvell’s leaders, talented employees and customers to build upon a solid foundation and create even greater value together,” Murphy said.
Murphy spent the past 22 at Maxim in sales and business unit leadership roles. He was most recently executive vice president for sales and marketing.