Darin G. Billerbeck to Retire
Board Commences CEO Search; COO Glen Hawk to
Serve as Interim CEO
Lattice Semiconductor Corporation (NASDAQ:LSCC), the leading
provider of customizable smart connectivity solutions, today
announced that its President and Chief Executive Officer, Darin G.
Billerbeck, has decided to retire and will also step down from the
Company’s Board of Directors on March 16, 2018. The Board has
appointed Glen Hawk, the Company’s Chief Operating Officer since
November 2015, as Interim CEO, effective March 16, 2018. The Board
will conduct a thorough search process for a permanent CEO,
including both internal and external candidates, and has retained
Egon Zehnder, a leading executive search firm. Mr. Billerbeck will
remain with the Company until May 31, 2018 to help ensure a smooth
transition.
John Bourgoin, Chairman of the Board, said, “On behalf of the
entire Board, I would like to thank Darin for his leadership and
numerous contributions to Lattice over the past seven years to
position the Company for long-term success. During his tenure,
Darin strengthened the Company’s operational performance and drove
R&D efforts that have led to our strongest customer-aligned
product portfolio in the Company’s history. As we conduct a
comprehensive and efficient search for a new CEO, the Board and I
are confident that Glen will provide continuity of leadership to
ensure that Lattice continues to achieve operational excellence,
meet the needs of our customers and deliver value for
shareholders.”
Mr. Billerbeck, President and CEO, said, “I am privileged to
have led this exceptional organization and to have had the
opportunity to work with this incredibly talented team. Lattice is
well positioned for the future, as the Company builds on its strong
core business, continues to invest in an extensive suite of
solutions at the edge of the cloud, and remains focused on its
strategic goals. I am proud of all that we have accomplished during
my tenure, and look forward to working with Glen to ensure a
seamless transition as Lattice continues to drive a return to
revenue and profitability growth, improve its cost structure, and
build shareholder value.”
A graduate of the University of California, Berkeley, Mr. Hawk
brings over 30 years of experience in the semiconductor industry
and has served as Lattice’s Chief Operating Officer since November
2015. Prior to joining Lattice, Mr. Hawk was the Vice President and
General Manager of the NAND solutions Group at Micron Technology,
Vice President and General Manager at Numonyx, and General Manager
of the Flash Products Group at Intel.
About Lattice Semiconductor Corporation:
Lattice Semiconductor (NASDAQ:LSCC) is a leader in smart
connectivity solutions at the network edge, where the “things” of
IoT live. Our low power FPGA, 60 GHz millimeter wave, video ASSP
and IP products deliver edge intelligence, edge connectivity, and
control solutions to the consumer, communications, industrial,
compute, and automotive markets. Our unwavering commitment to our
global customers enables them to accelerate their innovation,
creating an ever better and more connected world. For more
information about Lattice please visit www.latticesemi.com.
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Forward-Looking Statements Notice
The foregoing paragraphs contain forward-looking statements that
involve estimates, assumptions, risks and uncertainties. Any
statements about Lattice’s expectations, beliefs, plans,
objectives, assumptions or future events or performance are not
historical facts and may be forward-looking. Such forward-looking
statements include statements relating to: Lattice’s strategy to
drive revenue growth, accelerate operating expense reductions and
increase capital efficiencies. Other forward-looking statements may
be indicated by words such as “will,” “could,” “should,” “would,”
“may,” “expect,” “plan,” “project,” “anticipate,” “intend,”
“forecast,” “future,” “believe,” “estimate,” “predict,” “propose,”
“potential,” “continue” or the negative of these terms or other
comparable terminology.
Factors that may cause actual results to differ materially from
the forward-looking statements in this press release include global
economic uncertainty; overall semiconductor market conditions;
market acceptance and demand for Lattice’s new products; Lattice’s
dependencies on its silicon wafer suppliers; the impact of
competitive products and pricing; technological and product
development risks; and the failure to achieve the anticipated
benefits and synergies of the Silicon Image transaction. In
addition, actual results are subject to other risks and
uncertainties that relate more broadly to Lattice’s overall
business, including those risks more fully described in Lattice’s
filings with the SEC, including its annual report on Form 10-K for
the fiscal year ended December 31, 2016, and Lattice’s quarterly
reports filed on Form 10-Q.
You should not unduly rely on forward-looking statements because
actual results could differ materially from those expressed in any
forward-looking statements. In addition, any forward-looking
statement applies only as of the date on which it is made. Except
as required by law, Lattice does not intend to update or revise any
forward-looking statements, whether as a result of events or
circumstances after the date of this press release or to reflect
the occurrence of unanticipated events.
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version on businesswire.com: http://www.businesswire.com/news/home/20180312006112/en/
MEDIA:Lattice Semiconductor CorpDoug Hunter,
503-268-8512doug.hunter@latticesemi.comorINVESTORS:Global IR
PartnersDavid Pasquale, 914-337-8801lscc@globalirpartners.com
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