Marvell Announces Changes to its Board of Directors

Rhea-AI Summary

Marvell Technology (NASDAQ: MRVL) announced significant changes to its Board of Directors. Michael Strachan, Lead Independent Director and Audit Committee Chair, and Robert Switz, Executive Compensation Committee Chair, will not seek reelection at the Annual Meeting on June 13, 2025. Both directors have served since 2016 and played key roles in Marvell's transformation. Brad Buss, a director since 2018, will become the new Lead Independent Director effective June 13, 2025.

The company has nominated eight current directors for reelection, including Sara Andrews, Tudor Brown, Brad Buss, Daniel Durn, Rebecca House, Marachel Knight, Matt Murphy, and Rick Wallace.

Positive

• Both departing directors successfully guided Marvell through significant growth and transformation over 9 years
• Smooth leadership transition with experienced director Brad Buss taking over as Lead Independent Director
• Company maintains strong board continuity with eight current directors nominated for reelection

Negative

• Loss of two experienced board members who held key leadership positions
• Potential disruption in board oversight during transition period

SANTA CLARA, Calif., May 1, 2025 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced that Michael Strachan and Robert (Bob) Switz have decided not to stand for reelection as members of Marvell's board at the Company's Annual Meeting of Stockholders to be held on June 13, 2025. Both Strachan and Switz have served on the board since 2016, playing pivotal roles in Marvell's multi-year transformation. Strachan has been the Lead Independent Director since 2023 and Chair of the Audit Committee since 2018, while Switz has chaired the Executive Compensation Committee since 2018. The Board has appointed Brad Buss, a Marvell Director since 2018, to become Lead Independent Director effective on June 13, 2025, the date of the Annual Meeting of Stockholders.

Marvell Chairman and CEO Matt Murphy expressed his gratitude for their years of service and contributions to the company: "Mike and Bob have been instrumental in guiding Marvell through a period of significant growth and transformation," said Murphy. "For nine years, they've brought sharp insight and steady leadership to Marvell's board – support that has been vital as we have navigated the rapidly evolving semiconductor landscape. Today, Marvell is well positioned as a leading provider of data infrastructure solutions, with AI serving as a powerful catalyst for continued growth. On behalf of the Marvell team and our stakeholders, I thank them for their unwavering commitment to our success and wish them well in their retirement."

While Strachan and Switz are not standing for reelection, the Marvell Board of Directors has nominated the remaining current directors for reelection at the Annual Meeting of Stockholders on June 13, 2025, including Sara Andrews, Tudor Brown, Brad Buss, Daniel Durn, Rebecca House, Marachel Knight, Matt Murphy, and Rick Wallace.

About Marvell
To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 30 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transform—for the better.

Marvell and the M logo are trademarks of Marvell or its affiliates. Please visit www.marvell.com for a complete list of Marvell trademarks. Other names and brands may be claimed as the property of others.

This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future events, results or achievements. Actual events, results or achievements may differ materially from those contemplated in this press release. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict, including those described in the "Risk Factors" section of our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed by us from time to time with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and no person assumes any obligation to update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information, contact:
pr@marvell.com

 

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SOURCE Marvell

FAQ

Who is leaving Marvell's Board of Directors in 2025?

Michael Strachan (Lead Independent Director and Audit Committee Chair) and Robert Switz (Executive Compensation Committee Chair) are not seeking reelection at the June 13, 2025 Annual Meeting.

Who will be the new Lead Independent Director of Marvell (MRVL)?

Brad Buss, who has been a Marvell director since 2018, will become the new Lead Independent Director effective June 13, 2025.

How long did Michael Strachan and Robert Switz serve on Marvell's board?

Both Michael Strachan and Robert Switz served on Marvell's board since 2016, completing approximately 9 years of service.

Who are the remaining directors nominated for reelection at Marvell's 2025 Annual Meeting?

The nominated directors are Sara Andrews, Tudor Brown, Brad Buss, Daniel Durn, Rebecca House, Marachel Knight, Matt Murphy, and Rick Wallace.