Fairchild (Nasdaq:FCS), a leading global supplier of power semiconductors, announced management changes that streamline the company's reporting structure.
Fairchild has attracted the top talent in the industry to build an outstanding operations leadership team. Today the company announced that this team will report directly to Mark Thompson, Fairchild's chairman and CEO. Mr. Thompson will also assume the title of president as a result of the changes.
Vijay Ullal, president and chief operating officer, has departed the company. The changes are effective immediately.
"I am pleased to announce these changes as Fairchild enters our next phase of innovation and product development," said Thompson. "These organization changes provide a seamless transition to the next phase of transformation within Fairchild and ensure continuity of leadership while providing new opportunities to a number of our top executives."
More than two years ago, Fairchild initiated an extensive restructuring of its supply chain, including a manufacturing footprint consolidation that is on schedule to be completed in 2015. The company also sought to upgrade its leadership team to accelerate operational improvement, one part of which was hiring Mr. Ullal. "Mr. Ullal has made valuable contributions during his tenure, for which we are thankful," said Thompson. "During this period it also became increasingly clear that the company and Mr. Ullal had different perspectives about what constitutes effective, sustainable leadership, which ultimately led to his departure." -