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ARC International plc Board Changes
ARC International (LSE:ARK), a leading provider of multimedia design IP to semiconductor and consumer product companies worldwide, today announces the resignation of its President and Chief Executive Officer, Carl Schlachte with immediate effect. The role of President and Chief Executive Officer will be filled with immediate effect by Dr Geoff Bristow, who is currently the Senior Independent Director of the Company and has been a Non-Executive Director of the Company since 2003.
Carl Schlachte, who joined the Board in February 2004 and has transformed ARC International into a geographically diversified and highly respected provider of award-winning consumer multimedia IP to OEM and semiconductor companies globally, will be stepping down to pursue other business interests.
Since 1991, Dr Geoff Bristow has been a director and investor in a number of high-growth technology ventures, with particular experience in the consumer device markets at companies such as California-based Poqet Computer Corp, which created one of the world's first PDAs. At Fujitsu he had global planning responsibility for mobile devices and personal computers as EVP for Business Planning. Prior to 1991 he held the position of CEO in a series of significant rescue situations in the technology sector for companies such as Wordplex Information Systems plc, Compsoft, and Alphameric plc. Earlier on in his career, Dr Bristow was Director of Network Products at ICL plc and ran marketing at Texas Instruments Ltd.
Announcing this transition ARC International's Non-Executive Chairman, Richard Barfield, said: "Carl Schlachte has overseen the successful transition of ARC from a general purpose IP supplier into a leading designer of audio-visual subsystems for high volume, high specification products. With this job now complete, we are ready as a Board to move into the next phase of delivering the profits of this work to our shareholders at a time when Carl is also ready to move on to new interests. I and our entire Board wish Carl every success in his new endeavors and thank him for his tremendous and steadfast contribution to our Company's development.
"I am delighted that Geoff has agreed to step up to the Chief Executive Officer role and take the Company forward. Geoff has a proven track record of delivering shareholder value in the global IT industry, especially in situations where a company's true worth is yet to be realized. He has a first class technology background and, having been a Non-Executive Director at ARC, he is familiar with the opportunities and challenges that lie ahead for us." The following information is disclosed in relation to Dr Bristow's appointment in line with section 9.6.13 of the Listing Rules: Full Name: Dr Geoffrey Bristow Age: 55 Previous Directorships: Cybertill Ltd, Rugged Logic Ltd, Anvil Ventures Ltd Current Directorships: Cybertill Group Ltd, Wookey Wired Ltd, Decision Curve Ltd, Model My Future (Holdings) Ltd, Model My Future (Europe) SL, Interactive Forecasting Ltd, Flying Tutors Ltd During the period from 1986 to 1993, Dr Bristow managed a series of rescue situations, one of which led to a company, The Headland Group, being put into receivership in July 1990.
There are no other details to be disclosed under the Listing Rules in respect of this appointment.
About ARC International plc ARC International is a world leading provider of consumer IP to OEM and semiconductor companies globally. ARC's award-winning, vertically integrated audio and video solutions enable high quality multimedia content to be captured, shared, and played on a wide range of electronics devices. ARC's 150+ customers collectively ship hundreds of millions of ARC-Based™ chips annually in products such as Mobile TVs, Portable Media Players, WiFi-/WiMAX-enabled computers, flash storage, digital cameras, network appliances, and medical and government systems.
ARC International maintains a worldwide presence with corporate and research and development offices in San Jose and Lake Tahoe, Calif., St. Albans, England, St. Petersburg, Russia, and Hyderabad, India. For more information visit www.ARC.com ARC International is listed on the London Stock Exchange as ARC International plc (LSE:ARK).