Exar appoints new CEO

Mr. Benton will replace Richard L. Leza, Interim President and Chief Executive Officer. Simultaneously, the Board of Directors also announced that Mr. Keith Tainsky, Sr. Director of Finance, will immediately assume the position of Chief Financial Officer. Mr. Leza stated, "As a result of the semiconductor industry's on-going consolidation, there were a number of very strong external candidates interested in Exar's CEO position. We were seeking someone who had the talent and leadership to seamlessly carry forward our newly established vision and long-term strategy, without disrupting our hard-fought momentum. We've accomplished a great deal in a short amount of time, due in large part to the very capable team already in place. We are committed to staying the course and focusing on our core technologies." Mr. Benton joined Exar in December 2012 as Senior Vice President and Chief Financial Officer. Mr. Benton added, "I appreciate the opportunity the Board of Directors has given me, which is a vote of confidence for the entire Exar team and clear recognition of the success we are starting to realize. I've worked closely with Richard and I am pleased that his role as Executive Chairman will enable the Company to benefit from his continued leadership. Richard and I will continue to work closely together to finish what we have started." Mr. Benton continued, "I am thrilled with the opportunities in front of Exar. Industry consolidation has created a unique window for Exar to leverage our broad product and IP portfolio to fulfill unmet customer and market needs. I am confident that if we continue to focus on our core competencies, improve execution, and bring better advanced products to our customers quickly and more competitively, this will lead us toward our fundamental goal of increasing shareholder value."