Tuesday, August 7, 2007
Xilinx Inc. said that its current president and CEO Willem Roelandts intends to retire and will continue to serve as chairman.
Xilinx said that a committee of the company's board has been formed to begin an immediate search for a successor, evaluating both external and internal candidates. Roelandts will remain chief executive until a successor is named.
The move surprised observers. At the helm of Xilinx since 1996, Roelandts, 62, led the company through an intense period of change within the semiconductor industry, growing Xilinx sales from $560 million to over $1.8 billion.
In July, Xilinx reported revenues of $445.9 million in the first quarter of fiscal 2008, up 1 percent sequentially from the prior quarter and down 7 percent compared to the same quarter a year ago.
Sales were lower than expected for the FPGA supplier. First quarter net income was $84.3 million, or $0.28 per diluted share. Net income was down 4 percent over the previous quarter but up 2 percent from a year ago.
For the second fiscal quarter, revenues are expected to be flat to down slightly sequentially.
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