SiliconBeat

Clyde Hosein will leave San Jose chip maker Integrated Device Technology June 13 where he has served as chief financial officer since 2003 to take up the same position at Marvell Technology Group on June 23, according to SEC filings Friday. Hosein will get a nice bump in pay, with his yearly salary rising to $450,000, up from the$295,683 he got at IDT in fiscal 2007. He also receives a signing bonus of $350,000, an option grant good for 450,000 Marvell shares that vests over five year and a performance-based stock award for 200,000 shares.

(Interestingly, Marvell Technology is listed among the peer group that IDT competes with for talent and uses to benchmark its compensation, according to IDT’s most recent proxy.)

Too bad Hosein couldn’t have locked in his options on Thursday before Marvell announced first quarter net profit 24 cents a share, excluding some charges, far better than the 17 cents most analysts were expecting, according to Bloomberg News. Marvell shares rose $3.23, or 23 percent, to $17.36, their biggest jump in more than five years.