Marvell Technology, Inc. Announces Board Appointments
April 29, 2024 at 09:00 am EDT
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Marvell Technology, Inc. has appointed Rick Wallace, President and Chief Executive Officer of KLA Corporation, where he also serves as a member of the board of directors, and Daniel Durn, Chief Financial Officer and Executive Vice President, Finance, Technology Services and Operations of Adobe Inc., to its board of directors effective April 25, 2024. Durn brings his decades of experience in the technology industry to Marvell, including 10 years as a public company CFO. At Adobe, Durn oversees company-wide operations with rigor and ongoing excellence, drives enablement at scale, and powers innovation across the organization.
Prior to Adobe, he served as Senior Vice President and CFO at Applied Materials Inc., Executive Vice President and CFO at NXP Semiconductors N.V., Senior Vice President and CFO at Freescale Semiconductor Holdings Ltd., and CFO and Executive Vice President at GlobalFoundries Inc. He also held leadership positions in private equity and investment banking where he advised technology companies on corporate strategy and acquisitions.
Marvell Technology Group Ltd specializes in designing and marketing integrated communications and storage circuits intended for manufacturers of high-speed network equipment, hard disks, and consumer electronics. Net sales break down by area of application as follows:
- data centers (40.7%): artificial intelligence systems, data storage systems, Ethernet switches, servers, interconnection systems, etc.;
- enterprise networks (23.1%): routers, Ethernet switches, wireless access points, network equipment, workstations, etc. for campuses, small and medium-sized enterprises;
- telecom network infrastructures (18.3%): access multiplexers, Ethernet switches, optical transport systems, routers, wireless radio network access systems, etc.;
- consumer electronics (11.9%): broadband gateways and routers, game console systems, home data storage systems, home wireless access points, personal computer systems, printers and receiver terminals;
- automotive and industrial (6%): advanced driver assistance systems, autonomous vehicle systems, embedded network systems, industrial Ethernet switches, video surveillance systems.
Net sales are distributed geographically as follows: the United States (11.7%), China (42%), Malaysia (6.6%), Thailand (6.6%), Singapore (5.6%), Taiwan (4.9%), Japan (4.4%), Finland (3.2%), Philippines (2.9%) and other (12.1%).