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8-K - FORM 8-K - TRIDENT MICROSYSTEMS INC | f58003e8vk.htm |
EX-10.51 - EX-10.51 - TRIDENT MICROSYSTEMS INC | f58003exv10w51.htm |
EX-10.52 - EXHIBIT 10.52 - TRIDENT MICROSYSTEMS INC | f58003exv10w52.htm |
Exhibit 99.1
Trident Announces Appointment of Interim CEO
SUNNYVALE, Calif., Jan. 19, 2011 Trident Microsystems, Inc. (NASDAQ: TRID), a leading
provider of set-top box and TV semiconductor solutions, today announced that Sylvia Summers Couder
has resigned as CEO and as a director to pursue other opportunities. The company also announced
that Mr. Philippe Geyres has been appointed as Interim CEO effective immediately and that the
company has initiated a search for a CEO following this transition. Mr. Geyres is a candidate for
the permanent CEO position.
Sylvia Summers accomplishments at Trident have been substantial. She oversaw a significant
management transition early in her tenure and worked closely with the board to reposition the
company. We greatly appreciate her efforts and leadership, including the recent management of the
integration of the NXP and Micronas assets and the cost reductions that have been achieved, said
David Courtney, Chairman of the Board.
We are pleased and excited that Philippe Geyres has agreed to assume the role of Interim CEO. We
believe his background and experience will be quite helpful during this transition and that he will
bring a valuable perspective and focus to our business, said Mr. Courtney.
Mr. Geyres joined Tridents board in February 2010 following the companys acquisition of certain
assets of NXP. Mr. Geyres has substantial executive experience. He was CEO of Oberthur Card
Systems, a French publicly listed smart card company during 2007 and 2008. He was previously an
executive at ST Microelectronics from 1983 to 2006, most recently as Executive Vice President,
Consumer and Telecom Products. Prior to that, he held positions at Fairchild Semiconductor and
IBM. Mr. Geyres serves as a member of the board of directors of Advanced Digital Broadcast, a Swiss
company listed in Zurich, and of Arteris, a privately held networking IP company.
The company also announced that Christos Lagomichos has announced his departure from Trident and
resignation as its President effective Feb. 9, 2011.
We want to thank Mr. Lagomichos for his service to Trident, and particularly the assistance he has
provided in implementing our transition plan following the transaction with NXP, said Mr.
Courtney.
Forward-Looking Information
This press release contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to
the safe harbor created by those sections. These forward-looking statements include, but are not
limited to, statements about Tridents expectations regarding the changes in its management team.
Investors are cautioned that any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and there are important factors that could cause
Tridents actual results to differ materially from those in the forward looking statements. These
risks include, without limitation, Tridents success in pursuing license agreements of this
patented technology, and its ability to realize benefits as a result of this licensing program. The
forward-looking statements included in this press release are made only as of the date of this
press release; Trident does not undertake any obligation to publicly revise or update any such
forward-looking statement to reflect events or circumstances that may arise after the statement was
made. Investors are cautioned not to place undue reliance on forward-looking statements. Additional
information concerning factors that could cause results to differ can be found in the Companys
filings with the Securities and Exchange Commission, including the Companys most recently filed
Reports on Form 8-K, Form 10-K and Form 10-Q., which are available at http://www.sec.gov.
About Trident Microsystems, Inc.
Trident Microsystems, Inc., with headquarters in Sunnyvale, California, is a leading force in the
digital home entertainment market, delivering an extensive range of platform solutions that enhance
the consumer experience in the Connected Home. As one of the top-three semiconductor providers to
both the TV and set-top box markets, Tridents solutions can be found in the products of leading
OEMs and channel partners worldwide. The companys extensive IP portfolio of more than 2,000 patents has been driving key innovations in image
quality, 3D TV, low power consumption, and 45nm designs. For further information about Trident and
its products, please consult the Companys web site: www.tridentmicro.com.