Science & Technology
Science and Technology
Science and Technology
Fri, January 30, 2009
Thu, January 29, 2009 Applied Micro Circuits Corporation Announces CEO Transition
SUNNYVALE, Calif.--([ BUSINESS WIRE ])--Applied Micro Circuits Corporation (NASDAQ:AMCC), a global leader in providing energy efficient solutions to Process, Transport, and Store information for the next generation Internet Data Center and Carrier Central Office, announced today that Kambiz Hooshmand, President and Chief Executive Officer, will step down on June 1st 2009. Dr Paramesh Gopi, currently the Chief Operating Officer, will take over the role of President and CEO at that time.
"It has been a tremendous opportunity to lead the transformation of AMCC to focus and evolve into the global leader for 10G Ethernet transport, connectivity, and packet processing solutions. Paramesh is a brilliant strategist with a keen and broad knowledge of customer applications and platforms. He will build upon the foundation we have created and lead AMCC in its next phase of success. This transition period will allow us to smoothly hand over responsibilities and communicate to our customers, investors, and partners. I want to thank all of you for allowing me to be a part of the team," said Kambiz Hooshmand, President and CEO, AMCC.
"Despite the challenges and uncertain market conditions, I am confident that the strategic investments and solid technology foundation set by Kambiz and the AMCC team will serve us well as we build our products and grow our revenues. I am truly excited to lead a company of AMCC's caliber and potential," said Dr. Paramesh Gopi, Chief Operating Officer, AMCC.
"We thank Kambiz for his total dedication to the success of AMCC and his commitment to ensure a smooth leadership transition. Kambiz's ability to recruit a strong candidate such as Paramesh is a testament to his skills in building a strong and deep organization," said Cesar Cesaratto, Chairman of the Board of Directors of AMCC.
ABOUT AMCC
AMCC is a global leader in energy efficient sustainable solutions to Process, Transport, and Store information for the next generation of internet data center and carrier central office. A leader in high speed signal processing, IP & Ethernet packet processing, and storage controllers and processors, AMCC's patented innovations provide high value solutions in high speed mixed signal, Forward Error Correction, RAID, and packet processing applications. AMCC's corporate headquarters are located in Sunnyvale, California. Sales and engineering offices are located throughout the world. For further information regarding AMCC, please visit our web site at [ http://www.amcc.com ].
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as expects, anticipates, plans, believes, estimates, will or words of similar meaning. Such forward-looking statements, including statements regarding the succession of the Chief Executive Officer, timing and transition of responsibilities, and the future success of the company including product development and revenue growth, are subject to a number of risks and uncertainties, including the risk that uncertain economic and political conditions, both domestic and international, could harm our investment portfolio, revenues and operating results and similar risks due to general economic conditions, risks related to our business's dependence on growth in the technology sector and the Internet and on key senior management, our relationships with key customers, and the risk that our products may not be successfully or timely developed, completed or manufactured or achieve market acceptance, as well as the risks and uncertainties set forth in AMCC's Annual Report on Form 10-K, and in AMCC's other SEC filings. As a result of these risks and uncertainties, actual results may differ materially from these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and AMCC does not assume any obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise.
