Silicon Labs (Nasdaq: SLAB), a leader in high-performance, analog-intensive, mixed-signal integrated circuits (ICs), today announced that the company’s CFO, Paul Walsh, is leaving Silicon Labs for another opportunity outside of the semiconductor industry. Silicon Labs’ former CFO and current board member, Bill Bock, will be returning to the management team as the interim CFO.
Mr. Bock will be leading a strong and proven global finance organization that has been built over the last decade to support the expansion of the business. The CFO transition is not expected to result in any changes to Silicon Labs’ financial philosophy or the target financial model. The company is also confident in its near-term prospects and reiterated guidance for the current quarter.
“I want to thank Paul for his many contributions to Silicon Labs. I’ve enjoyed working with him, and we all wish him well in the next phase of his career,” said Tyson Tuttle, president and chief executive officer of Silicon Labs. “I am confident that Bill’s history with Silicon Labs will enable a seamless transition. Bill has been a tremendous asset to the company, and I look forward to working closely with him in our efforts to build a high-growth, broad-based business.”
Mr. Bock joined Silicon Labs’ board of directors in 2000 and then left the board when he was appointed CFO in 2006. He retired from Silicon Labs’ management team in 2011 and was invited to rejoin the board at that time. In addition to his familiarity with Silicon Labs’ products, strategy and mixed-signal history, Mr. Bock brings more than 30 years of experience spanning finance, operations and sales. Mr. Bock currently serves on a number of public and private company boards of directors including Entropic Communications. He 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 before its acquisition 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 TI’s data systems group.