PMC-Sierra Appoints President and Chief Executive Officer
April 02 2008 - 5:00AM
Business Wire
PMC-Sierra, Inc. (Nasdaq:PMCS) today announced that Greg Lang has
been appointed as the Company�s president and chief executive
officer. The position will become effective immediately upon the
resignation of Robert Bailey as the Company�s president and chief
executive officer following the filing of the Company�s first
quarter 2008 financials Form 10-Q, which will be on or before May
9, 2008. The Company�s Board of Directors also elected Mr. Lang to
serve as a director effective as of the next meeting of the Board.
Mr. Bailey will continue as PMC-Sierra�s Chairman of the Board.
Prior to his appointment at PMC-Sierra, Mr. Lang was president and
CEO at Integrated Device Technology Inc. (IDT), a company he joined
in 2001. Mr. Lang led the transformation of IDT from a commodity
SRAM supplier to a very profitable mixed signal solution provider.
He was responsible for the integration of several successful
acquisitions and more than doubled revenue over the course of his
term at the company. Prior to IDT, Mr. Lang spent 15 years at Intel
and was vice president and general manager of the Platform
Networking Group, where he built Intel�s client-side wired and
wireless networking businesses. Mr. Lang is also a member of the
board of directors of Intersil Corporation, a high-performance
analog semiconductor company. �The employees of PMC-Sierra and I
are excited about Greg joining the Company as CEO,� said Bob
Bailey, PMC-Sierra�s Chairman. �The combination of Greg�s
impressive track record and experience and PMC-Sierra�s talent and
market position provides reason for excitement.� �I decided to join
PMC-Sierra because of the strength of its product pipeline and
leadership team as well as strategic customer engagements,� said
Mr. Lang. �I believe the Company has built a solid platform for
profitable growth.� Mr. Lang holds a Bachelor�s degree in Business
Administration from the University of Michigan and a Master�s
degree in Business Administration from Washington State University.
Safe Harbor Statement PMC-Sierra�s forward-looking statements are
subject to risks and uncertainties. Actual results may differ from
these projections. The Company�s SEC filings describe more fully
the risks associated with the Company�s business including, but not
limited to, PMC-Sierra�s limited revenue visibility due to variable
customer demands, product pipeline, market segment growth or
decline, customer concentration and engagement and their related
impact on PMC-Sierra�s business. The Company does not undertake any
obligation to update the forward-looking statements. About
PMC-Sierra PMC-Sierra� is a leading provider of broadband
communications and storage semiconductors for metro, access, fiber
to the home, wireless infrastructure, storage, laser printers, and
fiber access gateway equipment. The Company offers worldwide
technical and sales support, including a network of offices
throughout North America, Europe, Israel and Asia. The Company is
publicly traded on the NASDAQ Stock Market under the PMCS symbol.
For more information, visit www.pmc-sierra.com. � Copyright
PMC-Sierra, Inc. 2008. All rights reserved. PMC is a registered
trademark of PMC-Sierra, Inc. in the United States and other
countries. PMC-SIERRA, PMCS and �Enabling connectivity. Empowering
people.� are trademarks of PMC-Sierra, Inc. Other product and
company names mentioned herein may be trademarks of their
respective owners.
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