Mergers and Acquistions News
Categories: Semi-Conductors
February 3rd 2009, 17:07PM
Bertrand Cambou, the Spansion chief executive and president, has resigned from the company board.
A board member and an executive vice-president at Spansion, Boaz Eitan, will take over from Mr Cambou as interim president, the firm has announced.
Mr Eitan founded Saifun Semiconductors in 2007, which was then acquired by Spansion the following year.
His predecessor will continue to provide consultancy advice to the firm.
The changes come after the chip-maker announced last month it is seeking a strategic takeover or merger approach, following a challenging trading environment for the semi-conductors sector.
Or as the firm itself puts it, Spansion "has been exploring strategic alternatives, including, but not limited to, opportunities to merge with or sell to similar US or foreign businesses".
The statement said such "strategic alternatives" would enhance the firm's position as a supplier of flash memory, providing its customers with a greater range of cost-effective memory services.
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