RealTime IT News

A New CEO for Transmeta

Thirty-nine-year-old Cirrus Logic executive Matthew R. Perry was named president and CEO of chipmaker Transmeta Corp. , succeeding Murray A. Goldman as chief executive officer and Hugh Barnes as president.

Goldman and Barnes, 64 and 56 respectively, remain on the board, with Goldman as chairman.

The Santa Clara, Calif.-based chipmaker, which has seen its stock drop as low as $1.12 from a 52-week high of $25, cited Perry's "leadership ability, genuine technical expertise, sophistication in marketing and strategic matters and ... winning enthusiasm."

Transmeta suffered through a lengthy delay bringing its new Crusoe processors to market - a delay that cut into its revenue and sent the stock price spiraling downward. The company hasn't had a profitable quarter in the past three years.

The Crusoe processor features so-called "code morphing" software that carries out many microprocessor functions with software instructions rather than transistors, saving energy and reducing heat. Transmeta has targeted makers of notebook computers and other mobile devices as its principal customers.

Perry joins Transmeta from Cirrus Logic, where he worked in various management positions beginning in December 1995. He has been vice president and general manager there since April 1998 managing, in succession, Cirrus' Embedded Processors Division, Crystal Products Division and Optical Products Division.

Before joining Cirrus Logic, Perry held management positions at Advanced Micro Devices and Motorola.

Meanwhile, Transmeta said that it will release its fiscal 2002 first quarter financial results on April 18, following the market close. For all of 2001, the company lost $1.32 per share.