Former Board Member Brings Broad Finance and Operational Experience to the CFO RoleAUSTIN, Texas, Nov 08, 2006 (BUSINESS WIRE) -- Silicon Laboratories Inc. (Nasdaq:SLAB), a leader in
high-performance, analog-intensive, mixed-signal ICs, today announced
the appointment of William Bock as senior vice president of finance
and administration and chief financial officer, effective immediately.
Mr. Bock will be resigning as a director on Silicon Laboratories'
board where he served as chairman of the audit committee since the
company went public in March, 2000. In addition to his familiarity
with Silicon Laboratories' products, strategy and mixed-signal
history, Mr. Bock brings to the company thirty years of business
acumen spanning finance, operations and sales.
"Bill has been closely engaged with the company's management team
during his tenure on our board, which will enable him to get up to
speed quickly in his new role," said Necip Sayiner, president and CEO
of Silicon Laboratories. "Bill brings a wealth of experience from
various senior management positions that will be instrumental in
helping the company navigate the next decade of growth and
diversification. He will be a tremendous asset to the company, and I
am looking forward to working closely with him to execute on our
business strategy and achieve our financial goals."
Prior to joining Silicon Laboratories, Mr. Bock was a partner at
venture capital firms CenterPoint Ventures and Verity Ventures. From
1997 to 1999, Mr. Bock served as president and chief executive officer
of DAZEL Corporation, a provider of electronic information delivery
systems. After DAZEL's acquisition by HP, Mr. Bock served as vice
president for HP until 2001. Prior to DAZEL, Mr. Bock served as
executive vice president and chief operating officer of Tivoli
Systems, a client server software company, which he helped to take
public in 1995 and was acquired by IBM in 1996. Prior to joining
Tivoli, Mr. Bock successfully completed an IPO at Convex Computer
Corporation as CFO in 1986 and then became senior vice president of
sales in 1991. Mr. Bock also spent nine years in various finance roles
at Texas Instruments including vice president and controller of the
data systems group.
"I have always been impressed by the integrity of the Silicon Labs
management team, and as we drive the company to the next level, I am
looking forward to being engaged on a day to day basis," said Mr.
Bock. "I believe we have the opportunity to translate our technology
prowess into a long term, profit-driven success story."
Mr. Bock holds a bachelor's degree in Computer Science from Iowa
State University and a master's degree in Industrial Administration
from Carnegie Mellon University.
Interim chief financial officer, Paul Walsh, has been appointed to
vice president of finance and chief accounting officer.
Silicon Laboratories Inc.
Silicon Laboratories Inc. is a leading designer of
high-performance, analog-intensive, mixed-signal integrated circuits
(ICs) for a broad range of applications. Silicon Laboratories' diverse
portfolio of highly integrated, patented solutions is developed by a
world-class engineering team with decades of cumulative expertise in
cutting-edge mixed-signal design. The company has design, engineering,
marketing, sales and applications offices throughout North America,
Europe and Asia. For more information about Silicon Laboratories
please visit www.silabs.com.
Cautionary Language
This press release contains forward-looking statements based on
Silicon Laboratories' current expectations. The words "believe,"
"estimate," "expect," "intend," "anticipate," "plan," "project,"
"will" and similar phrases as they relate to Silicon Laboratories are
intended to identify such forward-looking statements. These
forward-looking statements reflect the current views and assumptions
of Silicon Laboratories and are subject to various risks and
uncertainties that could cause actual results to differ materially
from expectations. Among the factors that could cause actual results
to differ materially from those in the forward-looking statements are
the following: risks that Silicon Laboratories may not be able to
maintain its historical growth; quarterly fluctuations in revenues and
operating results; volatile stock price; average selling prices of
products may decrease significantly and rapidly, especially for mobile
handset products; dependence on a limited number of products and
customers; risks associated with shifting market demand from GSM/GPRS
to EDGE and WCDMA; difficulties developing new products that achieve
market acceptance; risks that Silicon Laboratories may not be able to
manage strains associated with its growth; dependence on key
personnel; difficulties managing our manufacturers and subcontractors;
difficulties managing international activities; credit risks
associated with our accounts receivable; geographic concentration of
manufacturers, assemblers, test service providers and customers in the
Pacific Rim that subjects Silicon Laboratories' business and results
of operations to risks of natural disasters, epidemics, war and
political unrest; product development risks; inventory-related risks;
intellectual property litigation risks; risks associated with
acquisitions; the competitive and cyclical nature of the semiconductor
industry and other factors that are detailed in Silicon Laboratories'
filings with the SEC. Silicon Laboratories disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
Note to editors: Silicon Laboratories, Silicon Labs and the
Silicon Labs logo are trademarks of Silicon Laboratories Inc. All
other product names noted herein may be trademarks of their respective
holders.
SOURCE: Silicon Laboratories Inc.
Silicon Laboratories Inc., Austin
Shannon Pleasant, 512-464-9254
investor.relations@silabs.com