UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 23, 2016
XILINX, INC.
(Exact name of registrant as specified in its charter)
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Delaware | | 000-18548 | | 77-0188631 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
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2100 Logic Drive, San Jose, California | | 95124 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (408) 559-7778
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 23, 2016, Jon A. Olson, Executive Vice President and Chief Financial Officer of Xilinx, Inc. (the “Company”), informed the Company of his intent to retire. His retirement as CFO will be effective in late May 2016, soon after the Company’s fiscal year 2016 financial closing process concludes.
Item 7.01 Regulation FD Disclosure
On February 24, 2016, the Company issued a press release announcing the retirement of Jon A. Olson from the position of Executive Vice President and Chief Financial Officer, effective in late May 2016, soon after the Company’s fiscal year 2016 financials closing process concludes. The Company plans to appoint Lorenzo Flores, the Company’s current Corporate Vice President of Finance and Corporate Controller as Chief Financial Officer when Mr. Olson steps down. Mr. Olson will continue to support the transition through July 2016 in an advisory role.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and will not be treated as “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section. This information will not be deemed incorporated by reference into a filing under the Securities Act of 1933, or into another filing under the Exchange Act, unless that filing expressly refers to specific information in this Report. The furnishing of the information in this Item 7.01 is not intended to, and does not, constitute a representation that such furnishing is required by Regulation FD or that the information this Report contains is material investor information that is not otherwise publicly available.
This Form 8-K contains forward-looking statements. Forward-looking statements can often be identified by the use of forward-looking words such as “plan” or other similar expressions. Undue reliance should not be placed on such forward-looking statements, which speak only as of the date they are made. The Company undertakes no obligation to update such forward-looking statements. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. | Description |
99.1 | Press Release dated February 24, 2016 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| XILINX, INC. |
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Date: February 24, 2016 | By: | /s/ Scott Hover-Smoot | |
| | Scott Hover-Smoot |
| | Senior Vice President & General Counsel |
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Exhibit 99.1
Xilinx Contact:
Silvia E. Gianelli
(408) 626-4328
silvia.gianelli@xilinx.com
Jon Olson to Retire as CFO of Xilinx
San Jose, Calif., February 24, 2016 –Xilinx, Inc. (NASDAQ: XLNX) today announced that Jon Olson plans to retire from his full-time role as Chief Financial Officer in May this year, soon after the company’s FY2016 financial closing process. At that time, Lorenzo A. Flores, Corporate Vice President of Finance and Corporate Controller for Xilinx, will be appointed Senior Vice President and Chief Financial Officer. Jon will continue to support the transition through July in an advisory role.
Jon will retire after serving as CFO for over 11 years with Xilinx, where he has successfully driven improved gross margins, corporate profitability, increased return of cash to shareholders, and globalization of a very strong finance team. Jon was voted CFO of the year by the Silicon Valley Business Journal in 2010. Upon retirement as a full-time CFO, Jon plans to leverage his experience in part-time business activities and spend more time with his family.
“Jon has been a great contributor to Xilinx’s success. He has been a world class financial leader and helped drive Xilinx to a new level of operational efficiency,” said Moshe Gavrielov, CEO of Xilinx. “Lorenzo was a natural choice as Jon’s successor, having worked with and for Jon for over seven years on gross margin improvement, operating models, M&A, and more recently, investor relations.”
Lorenzo joined Xilinx as Vice President of Finance and Corporate Controller in 2008. Prior to joining Xilinx, he spent 10 years at Intel, served as CFO of a venture funded start up, and was assistant Vice President of Financial Planning and Analysis at Cognizant Technology Solutions. Lorenzo holds undergraduate degrees from MIT and an MBA from UCLA.
About Xilinx
Xilinx is the leading provider of All Programmable FPGAs, SoCs, MPSoCs, and 3D ICs. Xilinx uniquely enables applications that are both software defined and hardware optimized – powering industry advancements in Cloud Computing, SDN/NFV, Video/Vision, Industrial IoT, and 5G Wireless. For more information, visit www.xilinx.com.
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