Lattice Semiconductor Fires CEO
Lattice Semiconductor
(LSCC) - Get Lattice Semiconductor Corporation Report
fired Chairman and CEO Cyrus Y. Tsui and Rodney F. Sloss, the vice president of finance.
The programmable-chip maker named Stephen A. Skaggs CEO and Patrick S. Jones chairman. Skaggs joined Lattice in 1992 and served as senior vice president and chief financial officer from 1996 until 2003, when he was appointed president.
Jones joined the Lattice board in January. Among his past jobs, he has been corporate controller for
Intel
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and financial chief of
LSI Logic
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. Skaggs has been acting CEO and Jones has been acting chairman since June 14.
Additionally, Lattice said its audit committee completed an independent examination of issues primarily associated with executive compensation and the company's internal controls. Following the probe, the company isn't aware of any required adjustments to its historical financial results.
The Hillsboro, Ore., company has furnished information regarding the investigation to the
Securities and Exchange Commission
, which is conducting an informal inquiry into Lattice's prior restatement.
