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Components | May 12, 2011

Tessera's CEO steps down

Tessera Technologies's Board of Directors appointed Robert A. Young, Ph.D., as president and CEO. Henry R. Nothhaft resigned as the company's president and CEO to pursue his advocacy of smart innovation policies in Washington.
Mr Nothhaft will continue to serve as chairman of the board of directors until May 20, 2011, shortly before the company's upcoming 2011 annual meeting of stockholders, and will remain in a non-executive advisory role to assist Tessera with various endeavors thereafter. Robert J. Boehlke will succeed Nothhaft as chairman. Mr Boehlke is currently a member of Tessera's Board of Directors.

"On behalf of the board and the entire company, I would like to thank Hank for his service to Tessera as a member of our board of directors and CEO," said Young. "Under Hank's leadership, the company made numerous operational improvements and experienced growth, both organic and acquired. We wish Hank all the best in the years to come."

"Tessera is a great company, with an exciting future ahead, and I am reluctant to leave," said Henry R. Nothhaft. "But the impact on our economy of national innovation policies, including the patent reform legislation currently pending in Congress, presents a significant challenge at this critical juncture. This is where I'd like to focus my time and efforts now."

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