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8-K - FORM 8-K - TRIDENT MICROSYSTEMS INC | f59381e8vk.htm |
EX-10.62 - EX-10.62 - TRIDENT MICROSYSTEMS INC | f59381exv10w62.htm |
Exhibit 99.1
Press Release
For Immediate Release
TRIDENT MICROSYSTEMS NAMES DR. BAMI BASTANTI AS CEO AND PRESIDENT
Brings Two Decades of Semiconductor Leadership and Success
Brings Two Decades of Semiconductor Leadership and Success
SUNNYVALE, Calif., June 7, 2011 Trident Microsystems, Inc. (Nasdaq: TRID), a leader in
high-performance semiconductor system solutions for the connected home, today announced that Dr.
Bami Bastani has been appointed Chief Executive Officer and President and has been elected to the
Board of Directors. Bastani has more than 20 years of experience as a CEO
and senior executive in the semiconductor industry. His appointment is effective immediately.
Philippe Geyres, who has served as the Companys interim CEO since January 2011, will continue in
his role as a member of the Board of Directors.
Bami joins Trident at a critical juncture and brings with him excellent industry and leadership
experience, said David Courtney, Chairman of the Board of Directors. We expect that his track
record of leading impressive corporate turnarounds and his deep understanding of the semiconductor
industry will serve him well as he takes the helm at Trident.
I am extremely pleased to be joining Trident at this time, knowing that it is well positioned in
attractive growth markets driven by 2D and 3D picture quality and
home entertainment connectivity,
said Bastani. It is with great enthusiasm, passion and
commitment that I look forward to leveraging Tridents many core
strengths as we execute on the opportunities in
front of us and build a sustainably profitable business for our shareholders.
We greatly appreciate Philippes leadership and service as interim CEO over the past five months
and look forward to continued valuable contributions from him as a Board member in the future,
added Courtney. The detailed insights he gained in this role will serve the Board well as it
partners with management to help the Company achieve its strategic objectives.
Prior to joining Trident, Bastani, 57, was the Chairman and CEO of B2 Global Consulting, LLC, a
management consulting firm. From 1998 to 2008, Bastani was President and CEO of Anadigics, Inc.
(Nasdaq: ANAD). Under his leadership, the company became a recognized innovator in semiconductor RF
solutions for the wireless and broadband communications equipment markets. From 1996 to 1998,
Bastani was Executive Vice President of Fujitsu Microelectronics, where he led the Systems LSI
Group, including ASIC System-On-Chip, Local Area Networks, Spark processors, and RFICs. Previously,
he served for more than a decade at National Semiconductor where he held several key executive
positions, most recently as Vice President and General Manager of the Embedded Technologies
Division. Bastani is a member of the board of directors of SkyCross, Inc.
Forward-Looking Information
This press release contains forward-looking statements, including statements regarding our efforts
to build a sustainably profitable business. The forward-looking statements made above are subject
to certain risks and uncertainties, and actual results could vary materially depending on a number
of factors. These risks include, in particular, our ability to realize the benefits from our
acquisition of product lines and IP from NXP, our ability to reduce expenses, the timing of new
product introductions, the ability to obtain design wins among major OEMs for Tridents products,
the availability of wafers from our suppliers, and competitive pressures, including pricing and
competitors new product introductions, the impact of the uncertain global macroeconomic
environment, the increasingly competitive TV and set-top box semiconductor markets and our ability
to retain key employees globally. Additional factors that may affect Tridents business are
described in detail in Tridents filings with the Securities and Exchange Commission 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. For further information about Trident and its products,
please consult the Companys web site: www.tridentmicro.com.
NOTE: Trident is a trademark of Trident Microsystems, Inc. All other company and product names are
trademarks and/or registered trademarks of their respective owners. Features, pricing, availability
and specifications are subject to change without notice.
TRID-IR
For More Information
John Swenson
Treasurer and Director, Investor Relations
Tel: 408-962-8252
Email: john.swenson@tridentmicro.com
Web site: http://www.tridentmicro.com
John Swenson
Treasurer and Director, Investor Relations
Tel: 408-962-8252
Email: john.swenson@tridentmicro.com
Web site: http://www.tridentmicro.com