MARVELL TECHNOLOGY GROUP LTD. (NASDAQ:MRVL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
|
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December7, 2016, the Board of Directors (the Board) of Marvell
Technology Group Ltd. (the Company) appointed Tudor Brown to
serve as a member of the Board, effective immediately. Mr.Brown
was appointed for a term that extends until the 2017 annual
meeting of the shareholders.
Mr.Brown, 58, was one of the founding members and, until May
2012, President of ARM Holdings plc (ARM), a publicly-traded,
semiconductor IP and software design company based in Cambridge,
UK. Mr.Brown began his career at ARM over twenty years ago as a
principal engineer and later assumed other roles, including Chief
Technical Officer from 1997 through 2000, Chief Operating Officer
from 2001 through 2008, and a member of the board of directors
from 2001 through his retirement in May 2012. Mr.Brown currently
serves on the board of directors of Lenovo Group, Semiconductor
Manufacturing International Corporation and Tessera Technologies,
Inc.
Mr.Browns election to the Board was not to any arrangement or
understanding between Mr.Brown and any third party. The Board has
determined that Mr.Brown will qualify as independent under the
guidelines promulgated by the Nasdaq Stock Market, Inc. and the
applicable Securities and Exchange Commission rules.
Mr.Brown has no direct or indirect material interest in any
transaction required to be disclosed to Item404(a) of
RegulationS-K.
On December13, 2016, the Company issued a press release
announcing Mr.Browns appointment to the Board. A copy of the
press release is attached hereto as Exhibit 99.1 and is
incorporated by reference herein.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| 99.1 | Press Release dated December13, 2016 |
About MARVELL TECHNOLOGY GROUP LTD. (NASDAQ:MRVL)
Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) and System-in-a-Package (SiP) devices. Its product portfolio includes devices for data storage, enterprise-class Ethernet data switching, Ethernet physical-layer transceivers (PHY), wireless connectivity, Internet-of-Things (IoT) devices and multimedia solutions. Its products serve various applications used in carrier, metropolitan, enterprise and personal computer (PC)-client data communications, and storage systems. In addition, the Company serves the consumer electronics market for the convergence of voice, video and data applications. The Company relies on independent, third-party contractors to perform manufacturing, assembly and test functions. The Company offers its products to sectors, including storage, networking, and mobile and wireless. MARVELL TECHNOLOGY GROUP LTD. (NASDAQ:MRVL) Recent Trading Information
MARVELL TECHNOLOGY GROUP LTD. (NASDAQ:MRVL) closed its last trading session down -0.04 at 14.27 with 4,530,154 shares trading hands.