Marvell Announces Departure Of CEO Sehat Sutardja And President Weili

(RTTNews) - Marvell Technology Group Ltd. (MRVL) announced the departure of CEO Sehat Sutardja and President Weili Dai from management positions, effective immediately. The company's Board, in conjunction with a leading executive search firm, will conduct a search for a new CEO and President.

The Board of Marvell has formed an Interim Office of the Chief Executive to oversee day-to-day leadership of the company's operations. The Interim Office of the Chief Executive will be headed by Ms. Maya Strelar-Migotti, Executive Vice President, Smart Networked Devices and Solutions Business Group and Pantelis Alexopoulos, Executive Vice President of the Storage Business Group, as Interim Co-Chief Executive Officers.