SAN JOSE, Calif., Jan. 28, 2021 /PRNewswire/ -- QuickLogic
Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a
developer of ultra-low power multi-core voice enabled SoCs,
embedded FPGA IP, and Endpoint AI solutions, today announced that
Suping (Sue) Cheung, Chief Financial
Officer, submitted her resignation, effective February 17, 2021. Ms. Cheung will relocate in
order to accept a new Chief Financial Officer role with a public
company, and her resignation is not the result of any dispute or
disagreement with QuickLogic on any matter relating to QuickLogic's
operations, policies or practices.
Ms. Cheung has served in many senior level roles at QuickLogic
since joining the Company in 2007, most recently as Chief Financial
Officer since August 2016. She is committed to an orderly
transition of her duties and will stay with QuickLogic through its
upcoming earnings announcement and call on February 17 after market close. Effective
upon Ms. Cheung's departure, and until a successor has been
identified, QuickLogic has appointed Mr. Anthony Contos, who recently joined QuickLogic
as the Company's Corporate Controller, to serve as its interim
Chief Accounting Officer.
"On behalf of the QuickLogic team, I want to extend our sincere
thanks to Sue for her many contributions to the Company over the
past 14 years," said Brian Faith,
President and Chief Executive Officer of QuickLogic. "Sue was
instrumental in building a strong finance team and managing
QuickLogic's financial operations as we have executed on our
transition from a component semiconductor supplier to a platform
company. Sue has been a consummate professional, which was further
demonstrated by her willingness to stay through the reporting of
our fourth quarter and fiscal year results on February 17. We thank Sue for her leadership,
partnership, and friendship and wish her success in her new
endeavor."
"I am proud of what QuickLogic has accomplished. The Company is
well positioned to deliver on its strategic agenda," said
Sue Cheung. "I am grateful for the
opportunity to have partnered with Brian and the team for so many
years and to have worked with so many talented colleagues."
The Company plans to engage in a search to fill the permanent
Chief Financial Officer position.
About QuickLogic
QuickLogic is a fabless semiconductor company that develops low
power, multi-core semiconductor platforms and Intellectual Property
(IP) for Artificial Intelligence (AI), voice and sensor processing.
The solutions include an embedded FPGA IP (eFPGA) for hardware
acceleration and pre-processing, and heterogeneous multi-core SoCs
that integrate eFPGA with other processors and peripherals. The
Analytics Toolkit from the Company's wholly-owned subsidiary,
SensiML Corporation, completes the end-to-end solution with
accurate sensor algorithms using AI technology. The full range of
platforms, software tools and eFPGA IP enables the practical and
efficient adoption of AI, voice and sensor processing across the
multitude of mobile, wearable, hearable, consumer, industrial, edge
and endpoint IoT applications. For more information,
visit www.quicklogic.com
and https://www.quicklogic.com/blog/.
QuickLogic uses its website (www.quicklogic.com), the company
blog(https://www.quicklogic.com/blog/), corporate Twitter account
(@QuickLogic_Corp), Facebook page
(https://www.facebook.com/QuickLogic), and LinkedIn page
(https://www.linkedin.com/company/quicklogic/) as channels of
distribution of information about its products, its planned
financial and other announcements, its attendance at upcoming
investor and industry conferences, and other matters. Such
information may be deemed material information, and QuickLogic may
use these channels to comply with its disclosure obligations under
Regulation FD. Therefore, investors should monitor the Company's
website and its social media accounts in addition to following the
Company's press releases, SEC filings, public conference calls, and
webcasts.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include, without limitation,
expectations regarding our future business, and actual results may
differ due to a variety of factors including: delays in the market
acceptance of the Company's new products; the ability to convert
design opportunities into customer revenue; our ability to replace
revenue from end-of-life products; the level and timing of customer
design activity; the market acceptance of our customers' products;
the risk that new orders may not result in future revenue; our
ability to introduce and produce new products based on advanced
wafer technology on a timely basis; our ability to adequately
market the low power, competitive pricing and short time-to-market
of our new products; intense competition by competitors; our
ability to hire and retain qualified personnel; our ability to
capitalize on synergies with our newly acquired subsidiary SensiML
Corporation; changes in product demand or supply; general economic
conditions; political events, international trade disputes, natural
disasters and other business interruptions that could disrupt
supply or delivery of, or demand for, the Company's products; the
unpredictable and ongoing impact of the COVID-19 pandemic; and
changes in tax rates and exposure to additional tax liabilities.
These and other potential factors and uncertainties that could
cause actual results to differ materially from the results
contemplated or implied are described in more detail in the
Company's public reports filed with the Securities and Exchange
Commission (the "SEC"), including the risks discussed in the "Risk
Factors" section in the Company's Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q and in the Company's prior
press releases, which are available on the Company's Investor
Relations website at http://ir.quicklogic.com/, and on
the SEC website at www.sec.gov. In addition, please note that
the date of this press release is January [28], 2021, and any
forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of this date. We
undertake no obligation to update these statements as a result of
new information or future events.
QuickLogic and logo are registered trademarks of QuickLogic.
All other trademarks are the property of their respective holders
and should be treated as such.
CODE: QUIK-E
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SOURCE QuickLogic Corporation