Multi-Year Succession Plan Effective Post
Annual Stockholder Meeting
Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high
performance analog semiconductors connecting people, places and
things, today announced that its board of directors has appointed
Liam K. Griffin as chief executive officer. Mr. Griffin was also
elected to the board of directors of Skyworks effective May 11,
2016. David J. Aldrich, Skyworks’ chief executive officer since
2000, will assume the newly established role of executive chairman
and, in that position, will continue to serve as the chairman of
Skyworks’ board of directors.
Skyworks has substantially outpaced the broader semiconductor
market: growing the top line at a 25 percent annual rate from $1.1
billion in fiscal 2010 to over $3.2 billion in fiscal 2015. In
parallel, the company has maintained a rigorous leadership
succession planning process to ensure the organization continues to
follow this path of success going forward.
“I am delighted to announce that Liam Griffin has become
Skyworks’ chief executive officer as we capitalize on the enormous
global mobility and Internet of Things opportunities ahead of us,”
said Aldrich. “Liam has a demonstrated track record of success
and our proven partnership over 15 years makes him my logical
successor. He is a highly energetic and motivating leader who is
widely respected amongst our customers, partners, suppliers and
investors as well as the entire Skyworks employee base. Liam has
the unique ability to translate challenging operational plans into
market outperformance through his intense focus and unyielding
tenacity. I am confident Liam is the right person at the right time
to lead Skyworks into the next frontier and I look forward to
supporting him in my new capacity as executive chairman.”
As executive chairman, Mr. Aldrich, 59, will devote his time to
supporting the management transition and working with the
leadership team to develop Skyworks’ long term strategy. Mr.
Aldrich has served as CEO of Skyworks and its predecessor Alpha
Industries, since 2000. During that time, annual company revenue
grew from $126 million in 1999, when he became president and chief
operating officer, to over $3.2 billion as of fiscal 2015, while
operating income increased 7,477 percent.
Mr. Griffin, 49, joined Skyworks in August 2001 as head of sales
and marketing. Since that time his responsibilities have
continuously expanded with his leadership of Skyworks’ business
units, R&D efforts and operations. In 2011, he was promoted to
executive vice president and in May 2014 was named company
president. Mr. Griffin has been a key architect of the company’s
strategy to cement its leadership position in mobile communications
while diversifying across the Internet of Things.
Before joining Skyworks, Mr. Griffin was the vice president of
worldwide sales at Dover Corporation and held product management
and process engineering positions at AT&T's Microelectronics
and Network Systems’ businesses. Mr. Griffin received a Bachelor of
Science degree in mechanical engineering from the University of
Massachusetts and a Master of Business Administration degree from
Boston University.
“I am honored to have been chosen by Dave and the Skyworks board
to lead our great company,” said Griffin. “Over the past 17 years,
Dave Aldrich’s vision and leadership have built Skyworks into one
of the largest and fastest growing semiconductor companies in the
world. We have created an awesome platform for analog, mixed signal
and RF product integration leveraging our OEM relationships and
operational scale. I assume this new leadership role deeply humbled
yet highly confident in Skyworks’ future. I look forward to
continuing to work closely with Dave and building upon all of his
achievements while ultimately realizing our vision of connecting
everyone and everything, all the time.”
Additional Resources
David Aldrich Bio and Photo
Liam Griffin Bio and Photo
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking
revolution. Our highly innovative analog semiconductors are
connecting people, places and things spanning a number of new and
previously unimagined applications within the automotive,
broadband, cellular infrastructure, connected home, industrial,
medical, military, smartphone, tablet and wearable markets.
Headquartered in Woburn, Massachusetts, Skyworks is a global
company with engineering, marketing, operations, sales, and service
facilities located throughout Asia, Europe and North America. For
more information, please visit Skyworks’ website at:
www.skyworksinc.com.
Safe Harbor Statement
This news release includes "forward-looking statements" intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include without limitation information
relating to future results and expectations of Skyworks (e.g.,
certain projections and business trends). Forward-looking
statements can often be identified by words such as "anticipates,"
"expects," "forecasts," "intends," "believes," "plans," "may,"
"will," or "continue," and similar expressions and variations or
negatives of these words. All such statements are subject to
certain risks, uncertainties and other important factors that could
cause actual results to differ materially and adversely from those
projected, and may affect our future operating results, financial
position and cash flows.
These risks, uncertainties and other important factors include,
but are not limited to: uncertainty regarding global economic and
financial market conditions; the susceptibility of the
semiconductor industry and the markets addressed by our, and our
customers', products to economic downturns; the timing,
rescheduling or cancellation of significant customer orders and our
ability, as well as the ability of our customers, to manage
inventory; losses or curtailments of purchases or payments from key
customers, or the timing of customer inventory adjustments; the
availability and pricing of third-party semiconductor foundry,
assembly and test capacity, raw materials and supplier components;
changes in laws, regulations and/or policies that could adversely
affect either (i) the economy and our customers’ demand for our
products or (ii) the financial markets and our ability to raise
capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing
technological environment; economic, social, military and
geo-political conditions in the countries in which we, our
customers or our suppliers operate, including security and health
risks, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates; fluctuations in
our manufacturing yields due to our complex and specialized
manufacturing processes; delays or disruptions in production due to
equipment maintenance, repairs and/or upgrades; our reliance on
several key customers for a large percentage of our sales;
fluctuations in the manufacturing yields of our third-party
semiconductor foundries and other problems or delays in the
fabrication, assembly, testing or delivery of our products; our
ability to timely and accurately predict market requirements and
evolving industry standards, and to identify opportunities in new
markets; uncertainties of litigation, including potential disputes
over intellectual property infringement and rights, as well as
payments related to the licensing and/or sale of such rights; our
ability to rapidly develop new products and avoid product
obsolescence; our ability to retain, recruit and hire key
executives, technical personnel and other employees in the
positions and numbers, with the experience and capabilities, and at
the compensation levels needed to implement our business and
product plans; lengthy product development cycles that impact the
timing of new product introductions; unfavorable changes in product
mix; the quality of our products and any remediation costs;
shorter-than-expected product life cycles; problems or delays that
we may face in shifting our products to smaller geometry process
technologies and in achieving higher levels of design integration;
and our ability to continue to grow and maintain an intellectual
property portfolio and obtain needed licenses from third parties,
as well as other risks and uncertainties, including, but not
limited to, those detailed from time to time in our filings with
the Securities and Exchange Commission.
The forward-looking statements contained in this news release
are made only as of the date hereof, and we undertake no obligation
to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Note to Editors: Skyworks and Skyworks Solutions are trademarks
or registered trademarks of Skyworks Solutions, Inc. or its
subsidiaries in the United States and in other countries. All other
brands and names listed are trademarks of their respective
companies.
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version on businesswire.com: http://www.businesswire.com/news/home/20160512006509/en/
Skyworks Solutions, Inc.Media Relations:Tami
Stegmaier, 949-231-4207orInvestor Relations:Stephen
Ferranti, 781-376-3056
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