Cirrus Logic Announces CEO and Board Leadership Transition Plans
November 02 2020 - 4:01PM
Business Wire
Cirrus Logic, Inc. (Nasdaq: CRUS) today announced that Jason
Rhode plans to step down as chief executive officer and director
effective Jan. 1, 2021. The Cirrus Logic Board of Directors has
appointed current President John Forsyth, 47, as president and
chief executive officer effective Jan. 1, 2021. Rhode will remain
at Cirrus Logic as an executive fellow where he will work with John
following the transition of the CEO responsibilities, as well as
continuing to be directly involved in customer relationships and
talent development within the company. In addition, the company has
announced that David Tupman will become chair of the Board of
Directors, effective the same date, succeeding Al Schuele ahead of
his retirement prior to the next annual meeting of
stockholders.
Board Chair Al Schuele said, “It has been my pleasure to serve
as Cirrus Logic’s chair alongside Jason the past eight years.
During his tenure, Jason fostered significant financial growth,
built excellent customer relationships and developed an outstanding
corporate culture. We greatly appreciate his achievements over his
many years at Cirrus Logic and expect to continue to benefit from
his expertise as executive fellow. The Board unanimously selected
John as our next CEO, based on his exceptional performance in
various leadership positions since joining Cirrus Logic in 2014,
and we are excited to work with him in this new role. We believe
John’s strong leadership and strategic vision will continue to
drive long-term value for our shareholders, employees and
customers.”
“Leading Cirrus Logic for these past 13 years has been the
privilege of a lifetime. We have built a great organization with
cutting-edge engineering, outstanding employees and great
relationships with some of the best customers in the world,” Rhode
said. “As president, John has done a tremendous job leading the
company. He has the passion, vision, leadership expertise and team
necessary to be highly successful as CEO, and I am excited to
continue working with him in our new roles.”
“I am excited and honored to become the next CEO of Cirrus
Logic,” Forsyth said. “We have an extremely talented team with an
extraordinary commitment to serving customers who create the
world’s most innovative products. I believe that our strategic plan
will continue to bring innovations that strengthen the company’s
leadership position in audio and extend our success to new
technology areas. I look forward to working closely with our Board
of Directors, leadership team, employees and customers as we
continue to fulfill our vision of being the first choice in signal
processing.”
Forsyth, who joined Cirrus Logic in 2014 through the acquisition
of Wolfson Microelectronics, has more than 20 years’ experience in
embedded technology. He was named as the company’s president in
January 2020. Before being named president, Forsyth served as chief
strategy officer, responsible for driving Cirrus Logic’s product
strategy for low-power, high-precision mixed-signal processing
solutions. Prior to joining Wolfson in 2012, Forsyth had led
product development and strategy in several technology companies,
including serving as chief technical officer of the Symbian
Foundation and as vice president of strategy at Symbian
Software.
Tupman joined the Cirrus Logic Board in 2015 and is currently
the owner of Details Lab Inc., an advisory firm focusing on scaling
organizations for high-growth, technology development and new
product introduction. From 2001 to 2011, Tupman rose from manager
to vice president of Hardware Engineering at Apple, Inc., where he
led the hardware engineering and technology teams for multiple
mobile devices. He holds more than 30 U.S. and worldwide patents
and he received his bachelor of engineering degree and an honorary
doctorate in science, from the University of Salford, England.
This leadership transition will be discussed during the Q2 FY21
earnings call at 5 p.m. EST.
Cirrus Logic, Inc.
Cirrus Logic is a leader in low-power, high-precision
mixed-signal processing solutions that create innovative user
experiences for the world’s top mobile and consumer applications.
With headquarters in Austin, Texas, Cirrus Logic is recognized
globally for its award-winning corporate culture. Check us out at
www.cirrus.com.
Cirrus Logic, Cirrus, the Cirrus Logic logo are registered
trademarks or trademarks of Cirrus Logic, Inc. © 2020
Safe Harbor Statement
Except for historical information contained herein, the matters
set forth in this news release contain forward-looking statements
including our statements about our ability to drive long-term value
for our shareholders, employees and customers; our expectation that
we will continue to drive the Company’s long-term success; and our
belief that our strategic plan will continue to bring innovations
which strengthen the company’s leadership position in audio and
expand to new technology areas. In some cases, forward-looking
statements are identified by words such as “expect,” “anticipate,”
“target,” “project,” “believe,” “goals,” “opportunity,”
“estimates,” “intend,” and variations of these types of words and
similar expressions. In addition, any statements that refer to our
plans, expectations, strategies or other characterizations of
future events or circumstances are forward-looking statements.
These forward-looking statements are based on our current
expectations, estimates, and assumptions and are subject to certain
risks and uncertainties that could cause actual results to differ
materially. These risks and uncertainties include, but are not
limited to, the risk factors listed in our Form 10-K for the year
ended March 28, 2020, and in our other filings with the Securities
and Exchange Commission, which are available at www.sec.gov. The
foregoing information concerning our business outlook represents
our outlook as of the date of this news release, and we undertake
no obligation to update or revise any forward-looking statements,
whether as a result of new developments or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201102005624/en/
Bill Schnell Public Relations Cirrus Logic, Inc. (512) 851-4084
bill.schnell@cirrus.com
Angie Hatfield Strategic Communications, Inc. (425) 941-2895
ahatfield@strategiccom.biz
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