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.