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Western Digital Names Tim Leyden As Chief Financial Officer

Western Digital Corp. today announced that Tim Leyden has been named chief financial officer, effective Nov. 18, and that Jim Murphy will succeed Leyden as president of the company's WD subsidiary. Both executives are experienced leaders from within the Western Digital organization.

Leyden, 62, has served Western Digital for more than 23 years in a variety of leadership positions, including tenures as CFO from 2007 to 2010 and chief operating officer from 2010 to 2012. At the time of Western Digital's acquisition of HGST in 2012, Leyden was named president of the WD subsidiary, leading that organization during a time of outstanding financial performance, operational excellence, and full recovery from the historic floods in Thailand. Leyden will succeed Wolfgang Nickl, who is resigning as CFO, effective Nov. 17, to join ASML in his native Europe.

OCZ Technology Reports Results for Its First Quarter of Fiscal 2014

OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) for computing devices and systems, reports its first quarter (Q1'14) results which ended on May 31, 2013. "Revenue generated from our enterprise solutions for the first quarter more than doubled compared to the last quarter, and drove the sequential gross margin increase. Overall revenue declined about 20% sequentially, primarily due to the lack of NAND flash supply for our client SSD products," said Ralph Schmitt, CEO of OCZ Technology.

"Over the past year we have restructured the Company, which included the appointment of new leadership, reduced operating expenses, streamlined our product offerings, realigned our engineering talent, and introduced new controller silicon and firmware, new higher-end SSDs for the client market and new storage solutions for the enterprise market," added Schmitt. "Fiscal Q1 is the first quarter in which the company operated with all these particular restructuring and restatement adjustments behind us."

Western Digital CFO Wolfgang Nickl To Resign In November

Western Digital Corp. today announced that chief financial officer Wolfgang Nickl is resigning effective Nov. 17, 2013 to become chief financial officer at ASML Holding N.V. (ASML) in the Netherlands. Nickl has served as Western Digital's chief financial officer since August 2010. Prior to that time, Nickl served in other positions within the company's finance and operations groups. Nickl will continue to direct WDC's worldwide finance activities until his departure date.

In joining ASML, Nickl will be returning with his family to his native Europe. The company is in the process of conducting a search for a new chief financial officer.

NVIDIA Appoints Colette Kress as Chief Financial Officer

NVIDIA today announced that it has named Colette Kress, a 24-year veteran of the tech industry, as executive vice president and chief financial officer. Kress, age 46, whose appointment takes effect later this month, reports to Jen-Hsun Huang, NVIDIA's president and chief executive officer.

"We have searched extensively for the right candidate and are thrilled to have Colette join us," said Huang. "She brings fantastic experience, excellent financial management skills and deep industry knowledge to NVIDIA. Colette will be a great asset as we work to extend our global leadership in visual computing, mobile and the cloud. I want to thank Karen Burns for her truly outstanding work as interim CFO as we conducted our search."

OCZ Technology Group Updates Investors on Restatement Progress

OCZ Technology Group, Inc. (NASDAQ: OCZ), a leading provider of high-performance solid-state drives (SSDs) and power management solutions for computing devices and systems, is updating investors on its restatement process.

"We know that our restatement efforts are top of mind for all investors. This process has taken longer than we expected due to a number of items. Complexity of the transactions, as well as resource issues, were the main drivers for the additional time needed. Rafael Torres, our new CFO, joined us in late March with significant restatement experience and has filled key financial leadership positions and improved the technical depth of the finance organization," stated Ralph Schmitt, CEO of OCZ Technology. "Through these improvements, we have implemented a more rigorous review process that has also resulted in the identification of additional restatement items that have taken some time to review, document and conclude on. Taking these items into account, we believe that we are on track to becoming current with our SEC filings before the end of August."

Logitech Announces Departure of CFO Erik K. Bardman

Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced that Erik K. Bardman, senior vice president of finance and chief financial officer, will leave Logitech, effective April 26, 2013. Mr. Bardman, who has been with Logitech since October 2009, will join Roku as chief financial officer. Logitech is conducting a search of internal and external candidates for Mr. Bardman's replacement.

"Erik has been an asset to Logitech over the past three and a half years," said Bracken P. Darrell, Logitech president and chief executive officer. "We are sorry to see him leave but pleased that he has built a strong team that can continue to execute on our cost savings and turnaround as we identify his successor. We wish him the very best in his new opportunity."

Intel Reports First-Quarter Revenue of $12.6 Billion

Intel Corporation today reported first-quarter revenue of $12.6 billion, operating income of $2.5 billion, net income of $2.0 billion and EPS of $0.40. The company generated approximately $4.3 billion in cash from operations, paid dividends of $1.1 billion, and used $533 million to repurchase 25 million shares of stock.

"Amidst market softness, Intel performed well in the first quarter and I'm excited about what lies ahead for the company," said Paul Otellini, Intel president and CEO. "We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors this quarter. We are working with our customers to introduce innovative new products across multiple operating systems. The transition to 14nm technology this year will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace."

AMD Names Devinder Kumar Chief Financial Officer

AMD today announced that after a thorough internal and external search the company has appointed Devinder Kumar as senior vice president and chief financial officer, effective Jan. 2, 2013. Kumar, 57, will report to Rory Read, AMD president and chief executive officer, and will have responsibility for leading the company's global finance organization. Kumar has been interim CFO since September 2012. He served as corporate controller of the company since 2001 and as senior vice president since 2006.

TSMC Looking to Build Fabs in the US

Global Foundries could soon howdy-neighbor TSMC in upstate New York, with the Taiwanese semiconductor giant looking to set up a fab there. According to an X-bit Labs report, TSMC began groundwork on its US venture by consulting with Deloitte, to look for viable sites in Rensselaer, Saratoga and Oneida counties, that have abundant water, power, and gas to operate 3.2 million square feet buildings with 1,000 employees, 40 percent of which are college-graduated engineers.

Deloitte also took a look around Luther Forest Technology Campus, where Global Foundries' Fab 8 is located. A little earlier this week, Bill Owens, a Congressman from upstate New York flew to Taiwan, to meet with TSMC CFO Lora Ho to pitch upstate a little more. TSMC is a principal foundry partner of companies such as Qualcomm, NVIDIA, and AMD.

Source: X-bit Labs

AMD Announces Chief Financial Officer Transition

AMD today announced that Thomas Seifert informed the company of his decision to resign as senior vice president and chief financial officer to pursue other opportunities. Devinder Kumar, senior vice president and corporate controller, will serve as interim chief financial officer while a search commences for Mr. Seifert's replacement. Kumar has served as the Company's corporate controller since 2001. Seifert's departure is not based on any disagreement over the company's accounting principles or practices, or financial statement disclosures.

"We thank Thomas for his many contributions to AMD and for serving as interim CEO in 2011," said Rory Read, AMD president and CEO. "Thomas' personal commitment to the highest standards of accountability and financial integrity has helped define how AMD does business today. Devinder is an experienced financial executive whose financial expertise and semiconductor experience developed during his 28 year tenure at AMD is an asset to the company."

Mr. Seifert will remain with the company until September 28, 2012 to assist with the transition to the interim CFO.
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