Executive Brings More Than 23 Years of
International Financial Experience;Donald Palette to Retire
Following Transitional Period
Skyworks Solutions, Inc. (NASDAQ: SWKS) an innovator of high
performance analog semiconductors connecting people, places and
things, today announced that Kris Sennesael has joined Skyworks as
senior vice president and chief financial officer. Sennesael, 47,
most recently served as chief financial officer for Enphase Energy,
a semiconductor-based energy solutions provider.
Prior to Enphase, Sennesael was chief financial officer at
Standard Microsystems, a designer of mixed signal connectivity
solutions and, previously, he held increasingly responsible
financial positions at ON, AMI Semiconductor and Alcatel
Microelectronics. Sennesael holds bachelor’s and master’s degrees
in economics from the University of Ghent, Belgium, as well as an
MBA from the Vlerick Management School.
“We are delighted to have Kris join Skyworks as we embark on our
next key growth phase driven by ubiquitous mobile connectivity and
the Internet of Things,” said Liam K. Griffin, president and chief
executive officer of Skyworks. “His unique combination of financial
expertise, operational acumen and industry knowledge will be
valuable assets as we build upon our market leadership and take
Skyworks to the next level of financial outperformance.”
“I am excited to be joining Skyworks’ management team and
enhancing the Company’s industry-leading financial returns,” said
Sennesael. “Specifically, I look forward to driving further gross
margin expansion, operational excellence and ultimately shareholder
value.”
Donald Palette, 59, who has been Skyworks’ chief financial
officer since 2007, will serve in an advisory role for a
transitional period. “We appreciate Don’s leadership and counsel
over the last nine years, particularly as we reshaped our business,
outpaced our competition, substantially improved our degree of
profitability and strengthened our balance sheet. Skyworks has
benefited from the strong financial foundation set by Don, and we
wish him well in his retirement,” said Griffin.
“It has been a privilege to serve Skyworks, and I am proud of
our many accomplishments,” said Palette. “I am confident that the
finance organization is in great hands with Kris, and we anticipate
a seamless transition both internally and externally.”
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking
revolution. Our highly innovative analog semiconductors are
connecting people, places and things spanning a number of new and
previously unimagined applications within the automotive,
broadband, cellular infrastructure, connected home, industrial,
medical, military, smartphone, tablet and wearable markets.
Skyworks is a global company with engineering, marketing,
operations, sales, and service facilities located throughout Asia,
Europe and North America. For more information, please visit
Skyworks’ website at: www.skyworksinc.com.
Safe Harbor Statement
This news release includes “forward-looking statements” intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include without limitation information
relating to future results and expectations of Skyworks (e.g.,
certain projections and business trends). Forward-looking
statements can often be identified by words such as “anticipates,”
“expects,” “forecasts,” “intends,” “believes,” “plans,” “may,”
“will,” or “continue,” and similar expressions and variations or
negatives of these words. All such statements are subject to
certain risks, uncertainties and other important factors that could
cause actual results to differ materially and adversely from those
projected, and may affect our future operating results, financial
position and cash flows.
These risks, uncertainties and other important factors include,
but are not limited to: uncertainty regarding global economic and
financial market conditions; the susceptibility of the
semiconductor industry and the markets addressed by our, and our
customers’, products to economic downturns; the timing,
rescheduling or cancellation of significant customer orders and our
ability, as well as the ability of our customers, to manage
inventory; losses or curtailments of purchases or payments from key
customers, or the timing of customer inventory adjustments; the
availability and pricing of third-party semiconductor foundry,
assembly and test capacity, raw materials and supplier components;
changes in laws, regulations and/or policies that could adversely
affect either (i) the economy and our customers’ demand for our
products or (ii) the financial markets and our ability to raise
capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing
technological environment; economic, social, military and
geo-political conditions in the countries in which we, our
customers or our suppliers operate, including security and health
risks, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates; fluctuations in
our manufacturing yields due to our complex and specialized
manufacturing processes; delays or disruptions in production due to
equipment maintenance, repairs and/or upgrades; our reliance on
several key customers for a large percentage of our sales;
fluctuations in the manufacturing yields of our third-party
semiconductor foundries and other problems or delays in the
fabrication, assembly, testing or delivery of our products; our
ability to timely and accurately predict market requirements and
evolving industry standards, and to identify opportunities in new
markets; uncertainties of litigation, including potential disputes
over intellectual property infringement and rights, as well as
payments related to the licensing and/or sale of such rights; our
ability to rapidly develop new products and avoid product
obsolescence; our ability to retain, recruit and hire key
executives, technical personnel and other employees in the
positions and numbers, with the experience and capabilities, and at
the compensation levels needed to implement our business and
product plans; lengthy product development cycles that impact the
timing of new product introductions; unfavorable changes in product
mix; the quality of our products and any remediation costs;
shorter-than-expected product life cycles; problems or delays that
we may face in shifting our products to smaller geometry process
technologies and in achieving higher levels of design integration;
and our ability to continue to grow and maintain an intellectual
property portfolio and obtain needed licenses from third parties,
as well as other risks and uncertainties, including, but not
limited to, those detailed from time to time in our filings with
the Securities and Exchange Commission.
The forward-looking statements contained in this news release
are made only as of the date hereof, and we undertake no obligation
to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Note to Editors: Skyworks and Skyworks Solutions are trademarks
or registered trademarks of Skyworks Solutions, Inc. or its
subsidiaries in the United States and in other countries. All other
brands and names listed are trademarks of their respective
companies.
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version on businesswire.com: http://www.businesswire.com/news/home/20160829005888/en/
Skyworks Solutions, Inc.Media Relations:Pilar
Barrigas(949) 231-3061orInvestor Relations:Mitch Haws(949)
231-3223
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