Tessera Streamlines Executive Team

Tessera Technologies Inc. has streamlined its organizational structure and that of its subsidiary Tessera Intellectual Property Corp.

As a result, Bernard J. “Barney” Cassidy’s tenure as president of Tessera Intellectual Property Corp. ended July 23. Effective immediately, all functional areas of the subsidiary will report to Thomas Lacey, who was named Tessera’s second interim CEO in late May. (See: Tessera Names Second Interim CEO)

The company also promoted Paul E. Davis to the post of general counsel and corporate secretary. He joined Tessera in August 2011 as associate general counsel. Before that, he was an attorney at Skadden, Arps, Slate, Meagher & Flom LLP.

“We took this action today as part of our overall company efforts to flatten our organizational structure and improve the efficiencies of our intellectual property business and executive team,” Lacey said.

The announcement is the latest in a series of changes at the company that began in late March. (See: Tessera Makes Board Changes, Seeks New CEO) Last month, the company named John Allen as interim chief financial officer. (See: Tessera Technologies Names Acting CFO)

For more information, visit: www.tessera.com