Pixelworks Nominates Seasoned Semiconductor Executive, Dean Butler, to Board of Directors

Rhea-AI Summary

Pixelworks, Inc. (NASDAQ: PXLW) has nominated Dean Butler for election to its board of directors at the annual meeting on May 12, 2022. Butler is currently the CFO of Synaptics and has held senior finance roles at Marvell and Broadcom, bringing significant experience in the semiconductor industry. His expertise is expected to enhance Pixelworks' growth strategy in mobile markets. This nomination follows the planned retirement of Richard Sanquini as he transitions to Chairman Emeritus, maintaining a six-member board.

Positive

• Dean Butler brings extensive financial experience from senior roles in Synaptics, Marvell, and Broadcom.
• His nomination signifies a strengthening of leadership with substantial industry insight.
• Expected to contribute to Pixelworks' aggressive growth strategy in mobile and expanded market opportunities.

Negative

• Transition in board leadership may cause concerns about continuity.

Holds Extensive Senior Financial Experience from Synaptics, Marvell and Broadcom

PORTLAND, Ore., April 14, 2022 /PRNewswire/ -- Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of innovative video and display processing solutions, today announced that it has nominated Dean Butler as a candidate for election to the Company's board of directors at the annual meeting on May 12, 2022.

Butler currently serves as the chief financial officer of Synaptics, Inc., a developer of human interface hardware and software solutions used in IoT, Mobile, and PC applications. Previously, he was the Vice President of Finance at Marvell Technology, Inc., a semiconductor developer focused on infrastructure technologies for cloud data centers and 5G networks. Prior to joining Marvell Technology, Inc., he served as Division Controller at Broadcom Inc., a semiconductor and software provider servicing consumer, infrastructure, and communications markets. He also previously held various leadership roles in corporate finance at Maxim Integrated, an analog and mixed-signal integrated circuits developer that is now a part Analog Devices. Butler holds a Bachelor of Business Administration degree in finance from the University of Minnesota Duluth and is also a graduate of Stanford University's strategic financial leadership program.

"On behalf of the entire Board, we are very pleased to nominate Dean as a new independent director for consideration by our shareholders as part of the annual meeting," said Daniel Heneghan, incoming Chairman of Pixelworks. "His proven leadership experience and extensive financial expertise spanning notable semiconductor companies make him a highly qualified resource with substantial industry insight. We believe Dean can contribute significantly to the Company as we continue to execute on our aggressive growth strategy in mobile and pursue other expanded market opportunities."

Should shareholders elect the proposed slate of directors at the upcoming annual meeting, which reflects the planned retirement and transition of Richard Sanquini to Chairman Emeritus, the Board will remain comprised of six directors.

About Pixelworks
Pixelworks (NASDAQ: PXLW) provides industry-leading content creation, video delivery and display processing solutions and technology that enable highly authentic viewing experiences with superior visual quality, across all screens – from cinema to smartphone and beyond. The Company has more than 20 years of history delivering image processing innovation to leading providers of consumer electronics, professional displays and video streaming services. For more information, please visit the company's web site at www.pixelworks.com.

Pixelworks and the Pixelworks logo are registered trademarks of Pixelworks, Inc.

View original content to download multimedia:https://www.prnewswire.com/news-releases/pixelworks-nominates-seasoned-semiconductor-executive-dean-butler-to-board-of-directors-301525428.html

SOURCE Pixelworks, Inc.

FAQ

What is the significance of Dean Butler's nomination to Pixelworks' board?

Dean Butler's nomination could enhance financial leadership and industry insight, supporting Pixelworks' growth strategy.

When is the annual meeting for Pixelworks and what is on the agenda?

The annual meeting for Pixelworks is scheduled for May 12, 2022, where Dean Butler's election to the board will be considered.

Who is Richard Sanquini and what role will he take after retirement?

Richard Sanquini will transition to Chairman Emeritus following his retirement from an active board role.

What companies did Dean Butler work for before joining Pixelworks?

Before joining Pixelworks, Dean Butler served as CFO at Synaptics and held roles at Marvell and Broadcom.