SEOUL,
South Korea, July 17,
2023 /PRNewswire/ -- Magnachip Semiconductor
Corporation (NYSE: MX) ("Magnachip" or the "Company") today
announced that Gary Tanner has
notified the Company of his intention to resign from the Company's
Board of Directors. The Board has accepted his resignation, which
was effective as of July 14,
2023.
Mr. Tanner joined Magnachip's Board in August 2015 and has served in multiple
capacities, such as Non-Executive Chairman of the Board, Chair of
the Risk Committee, and a member of the Audit, Compensation and
Strategic Review Committees. During his tenure, Mr. Tanner has been
instrumental to the Company's trajectory, contributing to the
Company's strategic vision, operational details and corporate
governance. Most recently, Mr. Tanner led the establishment of the
Risk Committee's oversight of the Company's corporate objectives,
goals, strategies and initiatives relating to, and attending risks
associated with, environmental, social and governance ("ESG")
matters, including corporate social responsibility, sustainability,
public policy and other related matters such as the formation of a
management-level ESG Steering Committee.
"Gary's operational expertise and industry experience have been
instrumental to our success and he will be greatly missed," said
Camillo Martino, Magnachip's
Chairman of the Board. "He has consistently brought a valuable
perspective to our board deliberations. On behalf of the entire
board, I thank him for his service to Magnachip and wish him well
in his future endeavors."
"The Company and the management team would like to express their
gratitude to Gary for his dedicated service over the past eight
years. He leaves a legacy of excellence that has positioned us well
for the future," said YJ Kim, Chief Executive Officer of Magnachip.
"His strategic vision and his commitment to our stakeholders have
been a source of inspiration to all of us. We are thankful for his
years of service and his commitment to our success."
Mr. Tanner's departure is due to personal reasons. The Company
will immediately begin a search for a new independent director to
replace Mr. Tanner.
About Magnachip Semiconductor
Magnachip is a designer
and manufacturer of analog and mixed-signal semiconductor platform
solutions for communications, IoT, consumer, computing, industrial
and automotive applications. The Company provides a broad range of
standard products to customers worldwide. Magnachip, with more than
40 years of operating history, owns a portfolio of approximately
1,100 registered patents and pending applications, and has
extensive engineering, design, and manufacturing process expertise.
For more information, please visit www.magnachip.com. Information
on or accessible through Magnachip's website is not a part of, and
is not incorporated into, this release.
CONTACT:
Yujia Zhai
The Blueshirt Group
Tel. (860) 214-0809
Yujia@blueshirtgroup.com
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SOURCE Magnachip Semiconductor Corporation