Electronics Production | August 09, 2007
Xilinx CEO to retire
Xilinx, Inc. today announced that Willem P. Roelandts, 62, President, Chief Executive Officer and Chairman of the Board intends to retire from the positions of President and Chief Executive Officer.
A committee of the Company's Board of Directors has been formed to begin an immediate search for a successor, evaluating both external and internal candidates. Roelandts will remain Chief Executive Officer until a successor is named. Upon retirement, Roelandts will continue to serve as Chairman of the Board. At the helm of Xilinx since 1996, Roelandts led the company through an intense period of change within the semiconductor industry, growing Xilinx sales from $560 million to over $1.8 billion. During his tenure, Roelandts significantly expanded the Company's global business and initiated its successful market diversification strategy to better address high-growth end markets, including consumer, automotive, industrial and defense. These markets have grown from 12 percent of total revenues in fiscal year 2002 to 45 percent of total revenues today. Questions & Answers - CEO Retirement Q: Why is Wim announcing his retirement now? A: Wim had considered retiring sooner. But when we experienced problems with Virtex-4 FX, he felt it was necessary to stay on until the problems were resolved. Now that those difficulties are in the past and Virtex-5 is proving to be a great success with our customers, he felt it was the right moment for change. Q: Why didn't we already have a successor in place? A: The Board wanted to conduct a broad search to ensure we have the best person for the job. However, we will consider both internal and external candidates for the position. Q: You mentioned that we will be doing a search. Will Wim continue to be CEO until the new CEO is hired? A: Yes, Wim will continue to serve as CEO until his successor is hired. He will also continue to serve as Chairman of the Board, both for now and following his retirement as CEO. Q: Will there be other organizational changes as a result of this announcement? A: There are no plans for other changes to be made as a result of this announcement. However, the new CEO, once hired, may decide to make organizational changes. In terms of organizational changes that are already underway, we will continue with our searches for a VP of Sales and a Chief Legal Counsel. Q: Will the search include internal and external candidates? A: Yes, we will open the search to both internal and external candidates. Q: Who will be conducting the search? How long will it take? A: A committee of the Board has been formed to interview potential candidates and a recruiting firm has been hired to assist with the search. The final decision will be made by a vote of the entire Board. As far as timing is concerned, the primary objective is to find the right candidate to lead Xilinx through its next stage of growth. The Board hopes to do this quickly but will take the time needed to find the right person for the job. They have identified a list of desired qualifications and candidates will be evaluated based on these qualifications. Q: Will we extend the search beyond the semiconductor space? A: Yes, we will consider all qualified candidates regardless of their backgrounds. Q: Will there be important decisions awaiting the new CEO? A: No. Any decisions that need to be made in this interim period will be made by Wim. Wim will assist the new CEO when he comes on board. Q: Will this announcement have an impact me? A: Wim will continue to serve as CEO until a replacement is found so we can expect it to be “business as usual" while we conduct the search. Q: There have been a lot of changes in senior leadership during the past year. Is this something I should be concerned about? A: During the past couple of years Xilinx has been evolving into a systems solutions company. This has been a major change for our organization and it has required bringing in new leaders with different backgrounds and skill sets. These leadership changes were necessary for our continued growth.
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