Robert Schriesheim Appointed Interim Chief Financial Officer of Skyworks
Skyworks Solutions, Inc. (NASDAQ:SWKS), an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, announced today that Mark Dentinger will not be joining Skyworks as Chief Financial Officer (CFO) due to an unforeseen medical condition. Robert Schriesheim, a member of Skyworks' Board of Directors, has been appointed interim CFO while Skyworks conducts a comprehensive search for a successor.
"We were looking forward to Mark joining Skyworks but support his decision to prioritize his health. We all wish him a full and speedy recovery," said Phil Brace, chief executive officer and president of Skyworks. "We are pleased that Rob has stepped into this interim role and are confident in his ability to guide our financial strategy and team during this transition."
Mr. Schriesheim has been a director of Skyworks since 2006 and currently serves as chairman of Truax Partners LLC, partnering with CEOs, Boards and institutional investors as a private investor and director. He has extensive financial, strategic and governance expertise having served on 12 public boards ranging from under $1 billion in revenue to Fortune 500 in size. He has served as CFO of four public companies with revenue from $1 billion to $40 billion including Sears Holdings, Hewitt Associates and Lawson Software. His experience has been in the software, communications, semiconductor, information technology, financial services and retail sectors. He also serves as an Adjunct Associate Professor of Finance at The University of Chicago Booth School of Business focused in the area of Corporate Governance and Activism. Mr. Schriesheim currently serves as Lead Independent Director of Houlihan Lokey and as a director of Alight Solutions. Mr. Schriesheim has an AB in chemistry from Princeton University and an MBA from the University of Chicago Booth School of Business.
"As a long serving board member with a strong belief in and passion for the company, I look forward to serving in an interim capacity in support of Phil and his team while we conduct a search for a permanent CFO," said Mr. Schriesheim.
Skyworks remains committed to executing its strategic plan and driving long-term value for shareholders.
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking revolution. We are a leading developer, manufacturer and provider of analog and mixed-signal semiconductors and solutions for numerous applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet and wearables.
Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500® market index (NASDAQ:SWKS). For more information, please visit Skyworks' website at: www.skyworksinc.com.
Safe Harbor Statement
This press 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 information relating to future events, prospects, expectations and results of Skyworks (e.g., expectations relating to Skyworks' strategic plan, driving long-term value for shareholders and conducting a smooth executive transition and search process). Forward-looking statements can often be identified by words such as "continue," "expects," "intends," "believes," "plans," "may," or "will" 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 forward-looking statements are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Skyworks' control, which could cause actual results to differ materially from those indicated in the forward-looking statements. Those factors include, but are not limited to, our ability to successfully manage senior management transitions, execute on our strategy, and the risk factors set forth in Skyworks' filings with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 10-K.
The forward-looking statements contained in this press 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.
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