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Intersil Announces Resignation Of Dave Bell As President & CEO

Stocks in this article: ISIL

Intersil Corporation (NASDAQ Global Select: ISIL), a world leader in the design and manufacture of high-performance analog and mixed-signal semiconductors, today announced that its Board of Directors has appointed Board member James Diller as interim President and Chief Executive Officer following the resignation of Dave Bell as President and Chief Executive Officer and a Director of the Company, effective immediately.

As interim President and Chief Executive Officer, Mr. Diller will work closely with Intersil’s current executive team and Board of Directors to oversee the Company’s ongoing operations and strategic initiatives. The Board has formed a search committee chaired by Board member Donald Macleod to consider candidates for the permanent President and Chief Executive Officer role. The Board will engage a leading executive search firm to assist with the process.

Intersil also announced that Donald Macleod has been named Chairman of the Board, effective immediately. Gary Gist, the Company’s former Chairman, has stepped down from that position and will remain a member of the Board of Directors.

“On behalf of the Board of Directors, I want to thank Dave for his many contributions to Intersil,” said Donald Macleod. “Since joining the Company, he has successfully led the business through a challenging economic environment, while ensuring the Company is well-positioned to capitalize on its analog heritage to grow the business across our core Industrial & Infrastructure, Consumer, and Personal Computing market segments. Going forward, it is imperative that Intersil continues to aggressively focus on driving our top growth initiatives while adapting to changing market conditions.”

Mr. Diller has been a member of the Company’s Board of Directors since May 2002. He has significant expertise in the semiconductor industry, having served as Chief Executive Officer of two public companies, including Elantec Semiconductor, Inc. and PMC-Sierra, Inc., of which he was a founder. Additionally, he has served on the boards of directors of four public companies in the sector, and is currently Chairman of the Board of Directors of Avago Technologies Limited. He holds a Bachelor of Science in Physics from the University of Rhode Island.

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