Chief Accounting Officer and VP of Finance, Paul Walsh, Will Replace
Bill Bock
AUSTIN, Texas--(BUSINESS WIRE)--
Silicon
Laboratories Inc. (Nasdaq: SLAB), a leader in high-performance,
analog-intensive, mixed-signal integrated circuits (ICs), today
announced the succession plan for the company's chief financial officer,
Bill Bock, who is stepping down this year. Paul Walsh, Silicon Labs'
current chief accounting officer and vice president of finance, will
become the company's CFO on July 3, 2011. Mr. Bock is expected to
re-join the company's board of directors at that time and will remain on
the management team as senior vice president through the end of the year
to support a smooth transition.
Paul Walsh, Planned to Succeed Bill Bock as CFO Mid-year (Photo: Business Wire)
Mr. Walsh, age 46, joined Silicon Laboratories in 2004 as the director
of finance for worldwide operations. He was appointed corporate
controller in 2005 and served as interim CFO in 2006 until Mr. Bock
resigned from the company's board of directors to accept the CFO
position. In Mr. Walsh's current role as chief accounting officer and
vice president of finance, he leverages his deep financial acumen to
manage finance and accounting functions worldwide and support the
company's merger and acquisition activities.
In addition to helping to build Silicon Laboratories' global finance
organization and contributing to the company's disciplined and
transparent approach to financial reporting, Mr. Walsh brings nearly two
decades of experience in the semiconductor industry to the CFO role. He
has held significant business operations, financial planning and
analysis, and international finance and accounting positions at Analog
Devices, Teradyne
and PerkinElmer,
where he supported multi-hundred-million-dollar businesses. He has an
M.B.A. from Boston University and a B.S. in mechanical engineering from
the University of Maine.
"I have thoroughly enjoyed being a part of such a strong management
team. During my time with the company, we successfully repositioned the
business to deliver a best-in-class operating model after a strategic
divestiture, completed over $600 million in share repurchases, grew the
business to a half billion dollars and completed five acquisitions,"
said Bill Bock, chief financial officer of Silicon Laboratories. "Paul
and I have worked closely together to achieve these objectives, and I
have complete confidence in his ability to help lead Silicon Labs in its
efforts to become a one-billion-dollar company. I look forward to
continuing my connection with Silicon Labs and re-joining the board of
directors."
"Bill has been a tremendous asset to the organization, and I would like
to thank him for the stewardship he provided throughout his tenure,"
said Necip Sayiner, president and CEO of Silicon Laboratories. "I look
forward to continuing to work with him as a board director, and I'm
pleased to have a high-caliber and proven executive like Paul step into
this leadership role."
Silicon Laboratories Inc.
Silicon Laboratories is an industry leader in the innovation of
high-performance, analog-intensive, mixed-signal ICs. Developed by a
world-class engineering team with unsurpassed expertise in mixed-signal
design, Silicon Labs' diverse portfolio of patented semiconductor
solutions offers customers significant advantages in performance, size
and power consumption. For more information about Silicon Labs, please
visit www.silabs.com.
Cautionary Language
This press release may contain forward-looking statements based on
Silicon Laboratories' current expectations. These forward-looking
statements involve risks and uncertainties. A number of important
factors could cause actual results to differ materially from those in
the forward-looking statements. For a discussion of factors that could
impact Silicon Laboratories' financial results and cause actual results
to differ materially from those in the forward-looking statements,
please refer to Silicon Laboratories' filings with the SEC. Silicon
Laboratories disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
Note to editors: Silicon Laboratories, Silicon Labs and the Silicon
Labs logo are trademarks of Silicon Laboratories Inc. All other product
names noted herein may be trademarks of their respective holders.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6660419&lang=en
Silicon Laboratories Inc.
Shannon Pleasant, 512-464-9254
shannon.pleasant@silabs.com
Source: Silicon Laboratories Inc.
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