Willem Meintjes Appointed Chief Financial
Officer
Reaffirms Midpoint of Fourth Quarter of Fiscal
2023 Revenue Outlook, Narrows Range to +/- 3%
SANTA
CLARA, Calif., Jan. 11,
2023 /PRNewswire/ -- Marvell Technology, Inc.
(NASDAQ: MRVL), a leader in data infrastructure semiconductor
solutions, today announced that Willem
Meintjes, who has served as Marvell's Chief Accounting
Officer and Treasurer since 2018, has been appointed Chief
Financial Officer, effective January 20,
2023. Mr. Meintjes' promotion follows the resignation of
Jean Hu, who is departing the
Company to pursue another professional opportunity, effective
January 20, 2023.
"Jean has been an incredible partner over the past six years as
we have transformed Marvell into a leader in data infrastructure
semiconductor solutions," said Matt
Murphy, Marvell's President and CEO. "Jean's commitment to
talent and development has also elevated the entire finance
organization, as evidenced by many of the strong leaders –
including Willem – she has helped mentor over the years. We thank
her for her many contributions and wish her all the best with her
next professional opportunity."
Mr. Murphy continued, "Willem joined Marvell in 2016 right at
the start of our transformation, and since then, he has been
instrumental in building our corporate and financial foundations.
He is well prepared to be taking on the role of CFO and his deep
institutional knowledge of the Company, paired with his significant
finance operations experience, will be pivotal as we continue our
journey to be the industry's premier data infrastructure
semiconductor provider. We are proud of our thoughtful succession
planning process that ensures this will be a smooth transition to
the next generation of finance leadership."
"I am thrilled to step into this role and continue working
alongside Matt and the rest of the executive team," said Mr.
Meintjes. "We have tremendous momentum in our business as demand
for data infrastructure continues to grow, and the opportunity in
front of us is enormous. Marvell is on a clear trajectory for
success and I look forward to helping the Company execute on its
next phase of growth and innovation."
"It has been a true privilege to work alongside Matt, Willem and
the rest of the talented Marvell team," said Ms. Hu. "As I depart
Marvell for my next opportunity, I know the Company is
well-positioned for continued success. Having worked closely with
Willem, I can say with confidence that he is the right leader to
drive the Company's finance organization in the years to
come."
Mr. Meintjes joined Marvell in 2016 as Senior Vice President of
Finance and was promoted to Chief Accounting Officer and Treasurer
two years later. During his tenure at Marvell, Mr. Meintjes has
held multiple roles across the Finance organization, including
overseeing the FP&A, Treasury and Accounting functions. Prior
to joining the Company, he served as Vice President and Corporate
Controller at Newport Corporation and as Vice President and
Corporate Controller at International Rectifier. Mr. Meintjes holds
both a Bachelor of Commerce in Accounting and a Bachelor of
Commerce (Honours) in Accounting from the University of
Johannesburg and participated in
Stanford University's Strategic
Financial Leadership Program in 2018.
As part of this transition, Pani
Dixon, who currently serves as the Company's Corporate
Controller, has been named Chief Accounting Officer, also effective
January 20, 2023.
Reaffirming Midpoint of Fourth Quarter of Fiscal 2023 Revenue
Outlook and Narrowing Range
The Company today also announced that it is reaffirming the
midpoint of its revenue outlook for the fourth quarter of fiscal
2023, as provided on December 1,
2022, and narrowing the range. Net revenue is now expected
to be $1.400 billion +/- 3% versus
the prior +/- 5%.
Forward-Looking Statements under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the federal securities laws that involve risks and
uncertainties. Forward-looking statements include, without
limitation, any statement that may predict, forecast, indicate or
imply future events or achievements such as statements in this
press release related to our projected revenue for the fourth
quarter of fiscal year 2023. Actual events or results may
differ materially from those contemplated in this press
release. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements. Our filings with the Securities and
Exchange Commission ("SEC"), which you may obtain for free at the
SEC's website at http://www.sec.gov, discuss some of the important
risk factors that may affect our projected revenue, business,
results of operations and financial condition. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
About Marvell
To deliver the data infrastructure technology that connects the
world, we're building solutions on the most powerful foundation:
our partnerships with our customers. Trusted by the world's leading
technology companies for over 25 years, we move, store, process and
secure the world's data with semiconductor solutions designed for
our customers' current needs and future ambitions. Through a
process of deep collaboration and transparency, we're ultimately
changing the way tomorrow's enterprise, cloud, automotive, and
carrier architectures transform—for the better.
For further information, contact:
Ashish Saran
Senior Vice President, Investor Relations
408-222-0777
ir@marvell.com
Kim Markle
pr@marvell.com
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SOURCE Marvell