SAN JOSE, Calif., Apr 03, 2009 (BUSINESS WIRE) -- Tessera Technologies, Inc. (Nasdaq:TSRA) today announced two key
executive transitions, effective immediately.
Bruce McWilliams, chief strategy officer, will leave his day-to-day role
to pursue other opportunities, but will continue to serve as chairman of
the Tessera board of directors. His responsibilities for developing
company strategy will be assumed by John Keating, senior vice president
of corporate development.
"I very much enjoyed the opportunity at Tessera the last ten years as
its CEO and then CSO, and am proud of the company's progress during that
time," said McWilliams. "I am bullish about the company's future under
Hank's leadership moving forward."
"Bruce has made many significant contributions to Tessera over the past
10 years, including the development of the innovative business model
which enabled the proliferation of our packaging technology throughout
the semiconductor industry," said Henry R. "Hank" Nothhaft, president
and chief executive officer, Tessera. "We are pleased that he will
continue to have a significant role at Tessera as chairman of the board
Scot Griffin, executive vice president of Tessera's Micro-electronics
business, will leave the company to pursue other business opportunities.
Leadership of the Micro-electronics business will be assumed by Craig
Mitchell, senior vice president of Interconnect, Components and
Materials; and by Brian Marcucci, senior vice president of Business
Development & Licensing. Responsibility for litigation and other IP
protection activity related to the Micro-electronics business has been
assumed by Bernard J. "Barney" Cassidy, general counsel and senior vice
president, who joined Tessera in November of 2008. Griffin will continue
as a consultant to the company regarding IP strategy for a period of
"Scot has played a key role during his more than six years with Tessera,
most recently as head of our Micro-electronics business and before that
as our general counsel," said Nothhaft. "We thank him for his invaluable
contributions to the company and wish him the best in his new endeavors."
Tessera Technologies, Inc. develops and delivers technologies for
wireless, consumer and computing products. The company's packaging and
interconnect solutions enable smaller, higher-functionality electronic
devices. Tessera's imaging and optics solutions provide low-cost,
high-quality camera functionality in electronic products and include
image sensor packaging, wafer-level optics and image enhancement
intellectual property. The company also offers customized micro-optic
lenses, from diffractive and refractive optical elements to integrated
micro-optical subassemblies. Tessera licenses its technologies, as well
as delivers products based on these technologies, to promote the
development of the supply chain infrastructure. The company is
headquartered in San Jose, California. For information call
1.408.321.6000 or go to www.tessera.com.
Safe Harbor Statement
This press release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve risks
and uncertainties that could cause actual results to differ
significantly from those projected, particularly with respect to
Tessera's future and the future activities of Tessera employees.
Material factors that may cause results to differ from the statements
made include delays, setbacks or losses relating to our intellectual
property or intellectual property litigations, or any invalidation or
limitation of our key patents; fluctuations in our operating results due
to the timing of new license agreements and royalties, or due to legal
costs; changes in patent laws, regulation or enforcement, or other
factors that might affect our ability to protect our intellectual
property; the risk of a decline in demand for semiconductor products;
failure by the industry to adopt our technologies; competing
technologies; the future expiration of our patents; the future
expiration of our license agreements and the cessation of related
royalty income; the failure or refusal of licensees to pay royalties;
failure to achieve the growth prospects and synergies expected from
acquisition transactions; and delays and challenges associated with
integrating acquired companies with our existing businesses. You are
cautioned not to place undue reliance on the forward-looking statements,
which speak only as of the date of this release. Tessera's filings with
the Securities and Exchange Commission, including its Annual Report on
Form 10-K for the year ended December 31, 2008, include more information
about factors that could affect the company's financial results.
Tessera and the Tessera logo are trademarks or registered trademarks of
Tessera Inc. or its affiliated companies in the United States and other
countries. All other company, brand and product names may be trademarks
or registered trademarks of their respective companies.
SOURCE: Tessera Technologies, Inc.
Tessera Technologies, Inc.
Michael Anthofer, 408-321-6711
EVP and CFO
Moriah Shilton, 408-321-6713