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Steven Laub Appointed As President & CEO of Silicon Image
SUNNYVALE, Calif., November 11, 2004 — Silicon Image, Inc. (Nasdaq: SIMG), a leader in multi-gigabit semiconductor solutions for the secure transmission and storage of rich digital media, today announced that it has appointed Steven Laub as president and chief executive officer of the company. Mr. Laub will be responsible for driving the company's business strategy, execution and overall company performance.
Commenting on Laub's appointment, David Lee, Silicon Image founder and chairman of the board, noted, "We are excited to have someone of Steve's caliber and executive management experience joining the company. Steve has a successful track record in growing company profitability in roles where he had senior management responsibility for a broad range of products, services and partnerships in the semiconductor arena. I'm delighted to have Steve on board and am eager to work together with him to lead Silicon Image's digital content delivery strategy."
Laub spent 13 years in executive positions at Lattice Semiconductor Corporation, a leading supplier of programmable logic devices and related software. Most recently, Laub served as president and a member of the board of directors, with responsibility for the company's business performance. Laub previously spent five years as the company's chief operating officer, responsible for the company's product development, marketing, operations, and legal activities. During this period, Lattice's annual revenues grew from $198 million to $568 million. Earlier, Laub served as vice president and general manager for Lattice's high and low-density programmable logic businesses. While in this position, Lattice introduced its first CPLD product line, and became a market leader in the CMOS simple programmable logic device (SPLD) sector.
Mr. Laub has successfully managed organizations through periods of substantial growth. He has been responsible for the negotiation and subsequent integration of several acquisitions, including the $500 million acquisition of Vantis Corporation from AMD in 1999 and the $250 million acquisition of Agere's FPGA business in 2002. He has held management responsibility for an organization with over 800 staff members worldwide.
Prior to his tenure at Lattice Semiconductor, Mr. Laub was a partner at Bain & Company, a global strategic consulting firm. At Bain, he was responsible for defining and leading corporate and business unit strategies, new product definition, and mergers and acquisitions evaluation activities for a broad array of semiconductor, PC peripheral, data storage and software clients.
Laub stated, "I am enthusiastic about joining Silicon Image at this exciting stage in its evolution. As a proven driver of global technology standards, I believe Silicon Image has a winning strategy, incorporating the right mix of market-leading products, brands and technologies to take it to unprecedented levels of success. I look forward to leading the company to this next stage."
As an inducement for Mr. Laub to become employed as chief executive officer and president, he was granted a non-plan option for 1,500,000 shares of Silicon Image common stock. This option has an exercise price equal to the closing price of the stock on the NASDAQ Stock Market today and will vest over four years provided he remains employed with the company, subject to the vesting acceleration terms of Mr. Laub's offer letter.
Mr. Laub has a B.A. degree in economics from the University of California at Los Angeles and a J.D. from Harvard Law School.
About Silicon Image
Headquartered in Sunnyvale, Calif., Silicon Image, Inc. designs, develops and markets multi-gigabit semiconductor and system solutions for a variety of communications applications demanding high-bandwidth capability. With its proprietary Multi-layer Serial Link (MSL™) architecture, Silicon Image is well positioned for leadership in multiple mass markets including PCs, consumer electronics and storage. Currently, Silicon Image leads the global PC/display arena with its innovative digital interconnect technology, and has emerged as a leading player in the consumer electronics and storage markets-offering robust, high-bandwidth semiconductors. For more information on Silicon Image, visit www.siliconimage.com
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to future financial results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In particular, the company's future financial results may differ materially from those currently anticipated. In addition, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors Affecting Future Results" in the most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K filed by Silicon Image with the SEC. Silicon Image assumes no obligation to update this forward-looking information.
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Silicon Image, MSL and www.siliconimage.com are trademarks, registered trademarks or service marks of Silicon Image, Inc. in the United States and other countries.
Commenting on Laub's appointment, David Lee, Silicon Image founder and chairman of the board, noted, "We are excited to have someone of Steve's caliber and executive management experience joining the company. Steve has a successful track record in growing company profitability in roles where he had senior management responsibility for a broad range of products, services and partnerships in the semiconductor arena. I'm delighted to have Steve on board and am eager to work together with him to lead Silicon Image's digital content delivery strategy."
Laub spent 13 years in executive positions at Lattice Semiconductor Corporation, a leading supplier of programmable logic devices and related software. Most recently, Laub served as president and a member of the board of directors, with responsibility for the company's business performance. Laub previously spent five years as the company's chief operating officer, responsible for the company's product development, marketing, operations, and legal activities. During this period, Lattice's annual revenues grew from $198 million to $568 million. Earlier, Laub served as vice president and general manager for Lattice's high and low-density programmable logic businesses. While in this position, Lattice introduced its first CPLD product line, and became a market leader in the CMOS simple programmable logic device (SPLD) sector.
Mr. Laub has successfully managed organizations through periods of substantial growth. He has been responsible for the negotiation and subsequent integration of several acquisitions, including the $500 million acquisition of Vantis Corporation from AMD in 1999 and the $250 million acquisition of Agere's FPGA business in 2002. He has held management responsibility for an organization with over 800 staff members worldwide.
Prior to his tenure at Lattice Semiconductor, Mr. Laub was a partner at Bain & Company, a global strategic consulting firm. At Bain, he was responsible for defining and leading corporate and business unit strategies, new product definition, and mergers and acquisitions evaluation activities for a broad array of semiconductor, PC peripheral, data storage and software clients.
Laub stated, "I am enthusiastic about joining Silicon Image at this exciting stage in its evolution. As a proven driver of global technology standards, I believe Silicon Image has a winning strategy, incorporating the right mix of market-leading products, brands and technologies to take it to unprecedented levels of success. I look forward to leading the company to this next stage."
As an inducement for Mr. Laub to become employed as chief executive officer and president, he was granted a non-plan option for 1,500,000 shares of Silicon Image common stock. This option has an exercise price equal to the closing price of the stock on the NASDAQ Stock Market today and will vest over four years provided he remains employed with the company, subject to the vesting acceleration terms of Mr. Laub's offer letter.
Mr. Laub has a B.A. degree in economics from the University of California at Los Angeles and a J.D. from Harvard Law School.
About Silicon Image
Headquartered in Sunnyvale, Calif., Silicon Image, Inc. designs, develops and markets multi-gigabit semiconductor and system solutions for a variety of communications applications demanding high-bandwidth capability. With its proprietary Multi-layer Serial Link (MSL™) architecture, Silicon Image is well positioned for leadership in multiple mass markets including PCs, consumer electronics and storage. Currently, Silicon Image leads the global PC/display arena with its innovative digital interconnect technology, and has emerged as a leading player in the consumer electronics and storage markets-offering robust, high-bandwidth semiconductors. For more information on Silicon Image, visit www.siliconimage.com
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to future financial results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In particular, the company's future financial results may differ materially from those currently anticipated. In addition, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors Affecting Future Results" in the most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K filed by Silicon Image with the SEC. Silicon Image assumes no obligation to update this forward-looking information.
Silicon Image, MSL and www.siliconimage.com are trademarks, registered trademarks or service marks of Silicon Image, Inc. in the United States and other countries.
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