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Tessera Names Second Interim CEO

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SAN JOSE, Calif., May 30, 2013 — Tessera Technologies Inc. has announced its second interim CEO in as many months with the appointment of company director Thomas Lacey, effective immediately. The search for a new CEO is under way.

Lacey succeeds Richard S. Hill, who was named interim CEO in early April, replacing former president and CEO Dr. Robert A. Young. (See: Tessera Names Interim CEO) Hill has returned to his role as non-executive chair.

The announcement — the latest in a series of recent changes at the company — is the result of Tessera’s settlement agreement last week with New York-based investment adviser Starboard Value LP. In late March, Tessera announced several board appointments and said it was searching for a new CEO. (See: Tessera Makes Board Changes, Seeks New CEO) Its subsidiary DigitalOptics Corp. also announced that it would restructure its business operations to focus on differentiated MEMS-related technologies. (See: DigitalOptics Refocuses on MEMS, Drops Vertical Integration)

Lacey is the former chair and CEO of Components Direct, and the former president, CEO and director of Phoenix Technologies Ltd. Before that, he served as the corporate vice president and general manager of the SunFab Thin Film Solar Products group of Applied Materials Inc. He also has held several executive positions at Flextronics International’s Components Div. (now Vista Point Technologies), International Display Works and Intel Corp.

He currently serves on the board of directors and audit committees for both International Rectifier Corp. and DSP Group Inc.

“I look forward to working closely with my fellow directors and the senior management team on a strategic plan for long-term sustainable growth and profitability for the company,” Lacey said.

For more information, visit:
May 2013
AmericasApplied Materials Inc.BusinessCaliforniaCEO selectionDigitalOpticsDSP Group Inc.energyFlextronicsIntel Corp.interim CEOInternational Display WorksInternational Rectifier Corp.MEMSNew YorkopticsPhoenix Technologies Ltd.Richard S. HillRobert YoungStarboard Value LPSunFab Thin Film Solar ProductsTessera Technologies Inc.Thomas LaceyVista Point Technologies

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