Exar announced that Ralph Schmitt has resigned as Chief Executive Officer and President of the Company and as a member of the Board of Directors. John McFarlane, a member of Exar's Board of Directors, will assume, on an interim basis, the duties of Chief Executive Officer and President, effective immediately. The Board of Directors will commence a search for a permanent replacement. Schmitt was appointed as Chief Executive Officer upon the acquisition of Sipex Corporation by the Company on August 25, 2007. Prior to its acquisition by the Company, Mr. Schmitt served as Chief Executive Officer of Sipex.