- Current CEO Gideon Wertheizer to Retire at Year
End
- Board Appoints Technology Industry Veteran Amir
Panush as CEO Effective January
2023
ROCKVILLE, Md., Nov. 9, 2022 /PRNewswire/ -- CEVA, Inc.
(NASDAQ: CEVA), the leading licensor of wireless connectivity and
smart sensing technologies and co-creation solutions, today
announced that CEO Gideon Wertheizer
has chosen to retire at the end of 2022. The CEVA board of
directors has unanimously appointed Amir
Panush as CEO effective January
1st, 2023. Mr. Wertheizer will continue to serve
as an active member of CEVA's board of directors and will be
employed in an advisory role in the near term to ensure a smooth
leadership transition.
"On behalf of everyone at the Company, I would like to sincerely
thank Gideon for his strategic vision, leadership and dedication to
the success of CEVA since the company's inception 20 years ago,"
said Peter McManamon, Chairman of
the Board of CEVA. "Under Gideon's stewardship, CEVA has
transformed into the industry's undisputed leader in wireless
connectivity and smart sensing platform IPs that power billions of
devices around the world. We look forward to continuing to benefit
from Gideon's experience and counsel as an adviser and board member
going forward."
"It has been a great honor for me to lead CEVA, and I am
extremely proud of what our team has achieved together," stated Mr.
Wertheizer. "As much as we have achieved over the past 20 years,
CEVA has limitless future potential, with ubiquitous technologies
and a collaborative business model for smart and connected devices.
I would like to thank all of my colleagues for their support,
dedication to innovation and diligence over the years and look
forward to continuing to contribute to the Company."
Amir Panush was selected to
succeed Mr. Wertheizer as CEO following an extensive search. Having
been based in the U.S. for the past 17 years, Mr. Panush will
relocate to Israel in the coming
months. Mr. McManamon commented: "Amir has an excellent track
record of leadership at large technology companies, strong
relationships within the industry, and many intersections with
CEVA's target markets. Amir is a thoughtful and analytical person
that impressed us with his strategic vision and is an outstanding
fit for CEVA. We look forward to working with Amir to write the
next chapter of CEVA's growth story."
Amir Panush joins CEVA from
InvenSense, Inc., a TDK group company, where he served as CEO and
General Manager of TDK Corporation's MEMS Sensors Business Group
and where he led the company through revenue growth of over 100%
since 2020. Mr. Panush previously held various leadership positions
at TDK, following TDK's successful acquisition of InvenSense in
2017. Mr. Panush joined Invensense in 2015, serving as head of the
company's Strategy & Corporate Development, where he drove
strategic expansion and diversification efforts. Prior to
InvenSense, Mr. Panush held several leadership roles at Qualcomm
Inc. and led strategic marketing and partnerships at Atheros
Communications (acquired by Qualcomm). His earlier industry roles
spanned software engineering and project management leadership at
Texas Instruments and Comsys Mobile (acquired by Intel). Mr. Panush
holds a Master of Business Administration from Haas Business
School, University of California at
Berkeley and a bachelor's degree, Cum Laude, in Computer
Science from Technion Institute of Technology in Israel.
Mr. Panush commented: "I am incredibly excited about the
opportunity to lead CEVA forward and I am honored by the trust
shown in me by CEVA's board of directors. CEVA is uniquely
positioned to leverage its deep portfolio of wireless connectivity
and smart sensing IPs at a time when the market opportunity for
these technologies has never been greater. I am energized by the
opportunity to build on this technology leadership together with
our highly talented team to accelerate the Company's growth and
enhance the financial performance in the years ahead."
Forward Looking
Statements
This press release contains forward-looking statements that
involve risks and uncertainties, as well as assumptions that if
they materialize or prove incorrect, could cause the results of
CEVA to differ materially from those expressed or implied by such
forward-looking statements and assumptions. Forward-looking
statements include statements regarding the anticipated
commencement of Mr. Panush's service as CEO, Mr. Wertheizer's
continued service to CEVA, and CEVA's growth potential and market
opportunities. The risks, uncertainties and assumptions that could
cause differing CEVA results include: the scope and duration
of the COVID-19 pandemic; the extent and length of the restrictions
associated with the COVID-19 pandemic and the impact on customers,
consumer demand and the global economy generally; the ability of
CEVA DSP cores and other technologies to continue to be strong
growth drivers for us; our success in penetrating new markets,
including in the base station and IoT markets, and maintaining our
market position in existing markets; our ability to diversify the
company's royalty streams, the ability of products incorporating
our technologies to achieve market acceptance, the maturation of
the connectivity, IoT and 5G markets, the effect of intense
industry competition and consolidation, global chip market trends,
including supply chain issues as a result of COVID-19 and other
factors, the possibility that markets for CEVA's technologies may
not develop as expected or that products incorporating our
technologies do not achieve market acceptance; our ability to
timely and successfully develop and introduce new technologies; our
ability to successfully integrate Intrinsix into our business; and
general market conditions and other risks relating to our business,
including, but not limited to, those that are described from time
to time in our SEC filings. CEVA assumes no obligation to
update any forward-looking statements or information, which speak
as of their respective dates.
About CEVA, Inc.
CEVA is the leading licensor of wireless connectivity and smart
sensing technologies and co-creation solutions for a smarter,
safer, connected world. We provide Digital Signal Processors, AI
engines, wireless platforms, cryptography cores and complementary
software for sensor fusion, image enhancement, computer vision,
voice input and artificial intelligence. These technologies are
offered in combination with our Intrinsix IP integration services,
helping our customers address their most complex and time-critical
integrated circuit design projects. Leveraging our technologies and
chip design skills, many of the world's leading semiconductors,
system companies and OEMs create power-efficient, intelligent,
secure and connected devices for a range of end markets, including
mobile, consumer, automotive, robotics, industrial, aerospace &
defense and IoT.
Our DSP-based solutions include platforms for 5G baseband
processing in mobile, IoT and infrastructure, advanced imaging and
computer vision for any camera-enabled device, audio/voice/speech
and ultra-low-power always-on/sensing applications for multiple IoT
markets. For sensor fusion, our Hillcrest
Labs sensor processing technologies provide a broad range of
sensor fusion software and inertial measurement unit ("IMU")
solutions for markets including hearables, wearables, AR/VR, PC,
robotics, remote controls and IoT. For wireless IoT, our platforms
for Bluetooth (low energy and dual mode), Wi-Fi 4/5/6
(802.11n/ac/ax), Ultra-wideband (UWB), NB-IoT and GNSS are the most
broadly licensed connectivity platforms in the industry.
CEVA is a sustainable and environmentally conscious company,
adhering to our Code of Business Conduct and Ethics. As such, we
emphasize and focus on environmental preservation, recycling, the
welfare of our employees and privacy – which we promote on a
corporate level. At CEVA, we are committed to social
responsibility, values of preservation and consciousness towards
these purposes.
Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube,
Facebook, LinkedIn and Instagram
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ceva-inc-announces-ceo-transition-plan-301672254.html
SOURCE CEVA, Inc.