Aquantia Announces Appointment of Pirooz Parvarandeh as Chief Operating Officer
January 16 2018 - 9:25AM
Business Wire
Aquantia Corp., (NYSE: AQ), a leader in high-speed,
Multi-Gigabit Ethernet connectivity solutions, today announced the
appointment of Pirooz Parvarandeh as Chief Operating Officer,
reporting to Faraj Aalaei, Aquantia’s Chairman and CEO, effective
immediately. The company also announced today the departure of
Ramin Shirani, Senior Vice President of Engineering.
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Aquantia Appoints Pirooz Parvarandeh as
Chief Operating Officer (Photo: Business Wire)
With over 33 years of experience, Mr. Parvarandeh was formerly
the Group President and the first Chief Technology Officer (CTO) at
Maxim Integrated where he spent 27 years building leading edge
technology businesses, helping scale the company from 150
employees, when he joined, to over 8,000 employees and revenues of
$2.4 billion when he left. Mr. Parvarandeh held technical and
management positions and had P&L responsibility for highly
profitable business units with revenues of $800M per year. Mr.
Parvarandeh launched multiple initiatives to enhance innovation at
Maxim Integrated and started their Automotive Business Unit, which
he grew to well over $100 million prior to becoming CTO. Mr.
Parvarandeh completed his Bachelor of Science and Master of Science
degrees in Electrical Engineering at the California Institute of
Technology, Pasadena, CA and holds 28 issued and pending
patents.
“Pirooz’ proven leadership skills and deep understanding of the
semiconductor industry will be invaluable to Aquantia as we
continue to scale our business as a public company,” says Faraj
Aalaei, Chairman and CEO of Aquantia. “He adds his deep knowledge
and experience in scaling a business to an already strong team at
Aquantia. In his role as COO, Pirooz will oversee all engineering
and manufacturing operations. I look forward to working closely
with him as he leads these organizations to support the growth of
our business.”
“Aquantia successfully completed its IPO in November 2017 on the
back of an established leadership position and strong revenue in
the Data Center, Enterprise and Access Markets, with the objective
to expand further into the Automotive market in the near future,”
Mr. Aalaei continued. “As we continue to grow our engineering and
manufacturing to support these markets, we are excited to bring on
board a COO with the experience to successfully manage and scale
large development organizations and proliferate product
portfolios.”
“I am thrilled to join Aquantia at this exciting time,” said Mr.
Parvarandeh. “Aquantia has managed to take leadership positions in
multiple high-growth markets with an impressive track record of
turning disruptive technologies into business success. I look
forward to leveraging my knowledge and experience to contribute to
Aquantia’s continuing success.”
Mr. Aalaei and the Board of Directors are grateful for Mr.
Shirani’s contribution to the success of the company thus far.
Previous direct reports to Mr. Shirani within the engineering
organization will now report to Mr. Parvarandeh.
Safe Harbor Statement
This press release contains forward-looking statements, which
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ significantly from those projected, particularly
with respect the anticipated benefits to the Company from of Mr.
Parvarandeh’s appointment as chief operating officer, including the
Company’s ability to scale its business and the successful
execution of its long-term strategy; plans or operations relating
to the Company’s businesses; and the Company’s expectations
regarding growth opportunities, including data center, enterprise
infrastructure, access and automotive markets. These risks and
uncertainties, without limitation, include: the Company’s ability
to realize the benefits from its appointment of a new chief
operating officer, the ability of the Company to scale its
operations and manage its growth; the size and growth potential of
the markets that the Company targets and the Company’s ability to
compete therein and other risks disclosed in the Company’s SEC
filings, including its most recent Quarterly Report on Form 10-Q,
which are available on the SEC’s website at www.sec.gov. These
forward-looking statements are based on the Company's expectations
and assumptions as of the date of this press release. Except as
required by law, the Company undertakes no duty or obligation to
update any forward-looking statements contained in this press
release as a result of new information, future events or changes in
the Company's expectations.
About Aquantia
Aquantia is a leader in the design, development and marketing of
advanced, high-speed communications ICs for Ethernet connectivity
in the Data Center, Enterprise Infrastructure, Access and
Automotive markets. Aquantia products are designed to
cost-effectively deliver leading-edge data speeds for use in the
latest generation of communications infrastructure to alleviate
network bandwidth bottlenecks caused by the growth of global IP
traffic. Aquantia is headquartered in Silicon Valley. For
more information, visit www.aquantia.com.
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Aquantia Corporate Communications:Diane Vanasse,
408-242-0027dvanasse@aquantia.comAquantia Investor
Relations:Deborah Stapleton, 650-815-1239deb@stapleton.com
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