Atmel has appointed Steven Laub, currently a director of Atmel, as the Company's President and Chief Executive Officer, effective immediately. Laub's appointment follows the unanimous decision of the Board's independent directors to terminate George Perlegos, as President and Chief Executive Officer; Gust Perlegos, as Executive Vice President, Office of the President; the Vice President and General Counsel and Assistant Secretary; and the Vice President of Planning and Information Technology. The Board's decision was made following an independent investigation into allegations regarding the misuse of corporate travel funds. Messrs. George Perlegos and Gust Perlegos have been asked to resign as directors of the Company.
Laub, 47, has served as a director of Atmel since February 10, 2006. He most recently was a technology partner at Golden Gate Capital Corporation, and the Executive Chairman of Teridian. From 2004 to 2005, he was President and Chief Executive Officer of Silicon Image. Prior to that time, Laub spent 13 years in executive positions (including President, Chief Operating Officer and member of the Board of Directors) at Lattice Semiconductor.
