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SUNNYVALE, Calif., Jan. 9, 2013 (GLOBE NEWSWIRE) -- Alpha and Omega Semiconductor Limited ("AOS") (Nasdaq:AOSL), a designer, developer and global supplier of a broad range of power semiconductors and power ICs, today announced that the Company has established a CEO succession plan and has retained an executive search firm to seek a new CEO.
Since its inception 12 years ago, AOS has achieved a respectable market position in the power semiconductor industry and attained an excellent reputation among its peers in the market place. "At the age of 67, it's overdue for me to plan my retirement," said Dr. Chang. "In executing our strategic roadmap for diversification, we have established a solid foundation for growth. Now is the time for a dynamic new leader to take full advantage of this momentum and lead AOS to the next level," Dr. Chang continued.
As the founder, CEO, and Chairman of the Board, Dr. Chang brought AOS to be among the world's leading Power semiconductor suppliers. He started AOS in 2000 with very limited funding and a handful of employees and built it into a successful public company as of today, with over $350 million annual revenue and a very strong balance sheet. His relentless drive for excellence has positioned AOS well to become the best power semiconductor company in the world. In addition, as a visionary, Dr. Chang has instilled a company culture that empowers employees to fully unleash their potential and talent.
The Board is taking a thoughtful approach to the CEO succession process, including the formation of a search committee, to identify and recruit the best candidate to lead the next chapter of AOS' growth. During the search period, AOS' business operations will continue as usual with Dr. Chang as the CEO. He will work closely with the new leader once identified to ensure a seamless transition. Upon completion of the transition, Dr. Chang will continue to serve in the capacity of Chairman of the Board.