The interim CEO Don Dancer

International Rectifier announced that Alex Lidow, Chief Executive Officer and Director, has gone on leave of absence with pay pending the resolution of the investigation conducted by the Audit Committee of the Board of the Company. The Board has determined that this action was in the best interests of the Company and no conclusion has been reached by the Audit Committee that Dr. Lidow has engaged in any wrongful conduct. Dr. Lidow remains a member of the Board of Directors of the Company.

Donald R. Dancer, the Company's Executive Vice President, General Counsel and Secretary, has been designated by the Board as acting Chief Executive Officer during this period. The Board has formed a special committee comprised of the independent directors to advise and support Mr. Dancer in his new responsibilities.