Amnon Fisher Resigns as CEO Of Genesis Microchip; James E. Donegan Appointed Board Chairman and Interim CEO
SAN JOSE, Calif., Jun 25, 2002 (BUSINESS WIRE) -- Genesis Microchip Inc. (GNSS), a global leader in imaging and digital video/graphics processing technologies, announced today that Amnon Fisher, its president and chief executive officer, has resigned, effective immediately. Fisher also stepped down from the board of directors. At the board's request, James E. Donegan has agreed to serve as interim chief executive officer. Donegan, an outside director who has served on the company's board since 1997, was also elected by the board as its new Chairman, succeeding Alex Lushtak, who remains as a director of the company.
"Despite recent performance issues, Genesis has the products, technology and people to continue its leadership in the flat panel display sector and to diversify its business into other high-growth display markets," said Donegan. "We fully recognize the challenges that we face, and we are committed to dealing with them in order to capitalize on the market opportunities before us."
Previously, Donegan served as the chairman of the Board and chief executive officer of Sipex Corporation, a semiconductor company, which he joined in 1985. |
