John Hollister
will depart to join partner GlobalFoundries as CFO; CAO Mark
Mauldin to be named interim CFO
AUSTIN,
Texas, Dec. 11, 2023 /PRNewswire/ -- Silicon
Labs (NASDAQ: SLAB), a leader in secure, intelligent
wireless technology for a more connected world, announced
that John Hollister will step down
as chief financial officer (CFO) to join partner GlobalFoundries as
its CFO. Mark Mauldin, Silicon Labs'
chief accounting officer, will work closely with Hollister to
transition responsibilities and will be named interim chief
financial officer when the handover is completed by February 2, 2024. Silicon Labs is conducting a
search for a new CFO to continue to scale the company as a leader
in embedded wireless solutions for the Internet of Things.
"We thank John for his 20 years of service to Silicon Labs, ten
of those as chief financial officer. His accomplishments in
supporting Silicon Labs' growth clearly caught the attention of our
long-standing partner, GlobalFoundries," said Matt Johnson, President and Chief Executive
Officer at Silicon Labs. "Under John's financial leadership,
Silicon Labs has consistently outperformed the market and
established a strong foundation for continued long-term
growth."
"I'm grateful for my time at Silicon Labs and proud of all that
we've accomplished. Through a combination of strong organic growth,
strategic M&A, disciplined financial management, and a pivotal
divestiture two years ago, we have created the world's leading IoT
pure-play company with the broadest range of technology. Based on
record design win momentum, Silicon Labs has an extremely bright
future," said John Hollister, the
departing Chief Financial Officer at Silicon Labs. "After decades
of professional opportunity and growth at Silicon Labs, I'm looking
forward to taking on new challenges at GlobalFoundries, a
familiar partner and one of the world's leading semiconductor
foundries."
John joined Silicon Labs in 2004 and held a variety of financial
management and operational positions until being named CFO in 2013.
During his tenure, the company expanded its technology portfolio
and global footprint, executed strategic acquisitions and a
successful divestiture, and grew its revenue to become the largest
wireless pure-play company and a leader in the IoT.
Silicon Labs is poised to continue to scale and grow as the
semiconductor market recovers from a cyclical downturn. In its
search for a new CFO, Silicon Labs will evaluate candidates for
strengths in scaling companies and defining and managing financial
strategies for rapid growth.
About Silicon Labs
Silicon Labs (NASDAQ: SLAB) is a leader in secure,
intelligent wireless technology for a more connected
world. Our integrated hardware and software platform,
intuitive development tools, thriving ecosystem, and
robust support make us an ideal long-term partner in building
advanced industrial, commercial, home and life
applications. We make it easy for developers to solve
complex wireless challenges throughout the
product lifecycle and get to market
quickly with innovative solutions that transform
industries, grow economies, and improve lives.
silabs.com
Forward-Looking Statements
This press release contains forward-looking statements based on
Silicon Labs' current expectations. The words "believe",
"estimate", "expect", "intend", "anticipate", "plan", "project",
"will", and similar phrases as they relate to Silicon Labs are
intended to identify such forward-looking statements. These
forward-looking statements reflect the current views and
assumptions of Silicon Labs and are subject to various risks and
uncertainties that could cause actual results to differ materially
from expectations. Among the factors that could cause actual
results to differ materially from those in the forward-looking
statements are the following: the competitive and cyclical nature
of the semiconductor industry; the challenging macroeconomic
environment, including disruptions in the financial services
industry; geographic concentration of manufacturers, assemblers,
test service providers and customers in Asia that subjects Silicon Labs' business and
results of operations to risks of natural disasters, epidemics or
pandemics, war and political unrest; risks that demand and the
supply chain may be adversely affected by military conflict
(including in the Middle East, and
between Russia and Ukraine), terrorism, sanctions or other
geopolitical events globally (including conflict between
Taiwan and China); risks that Silicon Labs may not be
able to maintain its historical growth; quarterly fluctuations in
revenues and operating results; difficulties developing new
products that achieve market acceptance; risks associated with
international activities (including trade barriers, particularly
with respect to China);
intellectual property litigation risks; risks associated with
acquisitions and divestitures; product liability risks;
difficulties managing and/or obtaining sufficient supply from
Silicon Labs' distributors, manufacturers and subcontractors;
dependence on a limited number of products; absence of long-term
commitments from customers; inventory-related risks; difficulties
managing international activities; risks that Silicon Labs may not
be able to manage strains associated with its growth; credit risks
associated with its accounts receivable; dependence on key
personnel; stock price volatility; the impact of COVID-19 on the
U.S. and global economy; debt-related risks; capital-raising risks;
the timing and scope of share repurchases and/or dividends; average
selling prices of products may decrease significantly and rapidly;
information technology risks; cyber-attacks against Silicon Labs'
products and its networks and other factors that are detailed in
the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise. References in this press release to Silicon Labs
shall mean Silicon Laboratories Inc.
Note to editors: Silicon Laboratories, Silicon Labs, the "S"
symbol, and the Silicon Labs logo are trademarks of Silicon
Laboratories Inc. All other product names noted herein may be
trademarks of their respective holders.
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SOURCE Silicon Labs