Network Equipment Technologies reported issuing a block of shares of restricted stock on Monday to its employees, including its executive officers, “intended primarily to approximately offset temporary salary reductions” which began being imposed for a six-month period beginning with the company’s April 3 payroll.
The company issued Read the rest of this entry »
Spansion, the Sunnyvale flash memory maker that gave its executives a retention-based pay raise in February the same day it fired 3,000 workers, said this week that one of those raises doesn’t seem to have had the desired effect.
The company revealed in a regulatory filing Thursday that one of the recipients of those executive retention pay raises quit a week ago. Dario Sacomani (pictured), the company’s now former chief financial officer, resigned April 10, when he and Spansion entered into a “Personal Leave Agreement” under which Read the rest of this entry »
Ultra Clean Technology, the Hayward maker of subsystems used by the semiconductor capital equipment industry, said its chief financial officer, Jack Sexton, was departing, “effective immediately.” No reason was cited for his departure, however “Sexton is expected to be eligible to receive severance benefits.”
In February, the audit committee of the company’s board of directors concluded that Read the rest of this entry »
AP Pharma said today in a filing that it’s board was notified by two of its directors on Tuesday that they would not seek re-election to the board when their terms expire at the company’s next annual meeting, scheduled for May 27.
Peter Riepenhausen is stepping down after after 18 years on the company’s board, where he served on the Read the rest of this entry »
Vermillion, the biotech company formerly known as Ciphergen Biosystems, filed for bankruptcy protection Monday after losing four of the directors on its board the week before, when it also received the the asked-for resignations of its CEO, interim chief financial officer, and vice president in charge of business development.
None of the director resignations were “the result of any disagreement” with the company, and the senior executives quit “for the sole reason of conserving Company resources”, according to the filing announcing the news.
We first wrote about Vermillion in September 2007 when we noted that Phronesis Partners, an Ohio-based hedge fund that takes its name from a Greek term used by the philosopher Aristotle to denote “practical wisdom,” or “prudence,” disclosed that it was Vermillion’s largest shareholder then the largest owner of of a company that has yet to show a profit and has accumulated losses to the tune of $218 million since its founding in 1993.
Two years after naming Anthony Tebbutt its senior vice president for corporate strategy and business development, Alexza Pharmaceuticals has announced that his employment will end as of May 31.
Tebbutt, who worked for UCB, a Belgium pharmaceutical until October 2006, was paid $139,104 to cover certain expenses related to his relocation to the Bay Area when he was hired in March 2007. Since October 2007 he has been given a “monthly Read the rest of this entry »
Micrel is losing the head of its analog business unit next week. Vice President Scott Ward tendered his resignation Monday, a day before the company postponed by a year the expiration date for its poison-pill defense adopted last year in the face of an accumulation of its shares by Obrem Capital, which later launched an unsuccessful proxy battle to take over Micrel’s board.
Ward, 54, joined Micrel 10 years ago and has headed the analog unit since November 2007. There was no explanation offered for why Ward is quitting.
Vermillion, the Fremont company formerly known as Ciphergen Biosystems that develops medical diagnostic tests, lost its chief scientific officer March 19. Dr. Eric Fung told the company he wished to pursue “another career opportunity.” The resignation was for personal reasons, the company assures us, and was “not the results of any disagreement with the company.”
Fung, 38, joined the company in 2000 as a lead Read the rest of this entry »
Aviza Technology reported today that Robert Anderson resigned from its board of directors Monday “due to certain health concerns,” and not because of any disagreement with the company over its operations, policies or practices.
Anderson, 71, has served on Aviza’s board since Read the rest of this entry »
Pat House resigned Wednesday as a director on the board of Shutterfly to devote herself to a unnamed private software company she co-founded and where she will serve as chief executive. Her departure leaves holes in the boards compensation committee, which she chaired, as well its audit committee, on which she served. Read the rest of this entry »
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