PLX Board Announces Executive Management Change
News Release from:
PLX Technology Inc
11 October 2012
PLX Technology today announced that the PLX Board of Directors has appointed David K. Raun interim president and CEO, effective immediately, following the Board's acceptance of the resignation of Ralph H. Schmitt as president and CEO.
Raun has held multiple leadership positions at PLX, including his most recent position as senior executive vice president and general manager. Schmitt plans to pursue a leadership role at a different company and will stay on the PLX Board of Directors to help with continuity through the expected acquisition of PLX Technology by IDT.
“We have made great strides at progressing PLX over the past four years, and I want to thank the team for their relentless pursuit of excellence and being a leader in the markets we serve,” said Schmitt. “Over this period we have built strong customer relationships that have allowed the company to grow revenues by approximately 45 percent and impact the architecture of data center solutions of the future. We recently sold our Ethernet and satellite businesses in order to put PLX on a path to profitability. This will give David a clean platform to work with and I have every confidence in his ability to take PLX into its next exciting chapter.”
“On behalf of the Board, I would like to thank Ralph for his dedication and exceptional leadership at PLX,” said James Guzy, PLX’s chairman. “He has guided the company through challenging economic times while continuing to invest and expand its PCI Express leadership position. We are pleased that Ralph will stay on with the board and we wish him the best of luck with his next challenge.”
“Our succession planning identified David over a year ago to lead PLX in the event of a management change,” said Michael Salameh, PLX’s former CEO and a current PLX board member. “His tenure with PLX extends back to sampling the first PCI Express devices in late 2004 when he joined the company as the vice president of marketing. He is not only a proven leader at PLX but also has more than 15 years of experience at the senior executive level in our industry.”
“I am honored that the board has asked me to serve as interim CEO for PLX Technology,” said Raun. “PLX’s core values of winning, integrity, excellence and leadership are demonstrated by the dedication and talent of every employee. It will be business as usual as we continue to execute to our roadmap and support our greatly valued customer base with leading-edge PCI Express products. The team is committed and excited to see this continue as we become part of IDT in the future.”