Sean Riley was previously Vice President of Marketing for programmable logic company MathStar, Inc. and prior to that held a variety of senior management positions for Intel, most recently as Director of the Planning, Networking and Storage Group. Riley holds both a B.S. and M.S. in Electrical Engineering from Arizona State University.
Chris Fanning most recently was Corporate Vice President, Enterprise Solutions, managing Lattice's software, intellectual property and technical support businesses. He holds an A.B. and M.S. in Computer Science from Boston College and Worcester Polytechnic Institute, respectively, and an MBA from The University of Chicago's Graduate School of Business.
These executive appointments support the company's September 16 announcement that Lattice is restructuring to better align operating expenses with near-term revenue expectations, and longer-term to more efficiently implement its product strategy.
"I am extremely pleased that Sean has elected to join Lattice at this exciting point in our company's history," said Bruno Guilmart, Lattice President and CEO. "Sean's extensive background in programmable logic and the semiconductor industry, as well as in Ethernet, video and storage technologies, will be an enormous asset to Lattice as we move forward. I am equally pleased that Chris Fanning has agreed to become General Manager of Low Density and Mixed Signal Solutions. Chris has established an exceptional record of achievement during his tenure with Lattice, and he is the right person to take on the challenges of managing this critically important part of our product portfolio."
The Company also announced the grant of an employment inducement stock option award to Riley on September 22, 2008. Riley may purchase up to 450,000 shares of the Company's common stock at an exercise price of $2.27 per share pursuant to the inducement stock option. The stock option will vest 1/4th on the first anniversary of the grant date and 1/16th each three months thereafter over the remaining three-year period. The option grant has an expiration date of September 22, 2015.
About Lattice Semiconductor
Lattice Semiconductor Corporation designs, markets and sells a broad range of Programmable Logic Devices (PLD), including Field Programmable Gate Arrays (FPGA), Complex Programmable Logic Devices (CPLD), Mixed-Signal Power Management and Clock Generation Devices, and industry-leading SERDES products.
Lattice continues to deliver "More of the Best" to its customers with comprehensive solutions for system design, including an unequaled portfolio of high-performance, non-volatile and low-cost FPGAs.
Lattice products are sold worldwide through an extensive network of independent sales representatives and distributors, primarily to OEM customers in communications, computing, industrial, consumer, automotive, medical and military end markets. For more information, visit http://www.latticesemi.com
This release contains statements that are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to the better alignment of the Company's operating expenses with near-term revenue expectations, more efficient implementation of the Company's product strategy and whether the executive will be an asset to the Company. Investors are cautioned that forward-looking statements involve risks and uncertainties, including business and industry developments and those other risk factors detailed in the Company's Securities and Exchange Commission filings, that may cause the Company's actual results to differ materially from those anticipated in the forward-looking statements.
Lattice Semiconductor Corporation, Lattice (& design), L (& design) and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.
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CONTACT: Brian Kiernan Corporate Communications Manager Lattice Semiconductor Corporation 503-268-8739 voice 503-268-8193 fax Email Contact