PLX Technology (News - Alert) Inc., a supplier of high-speed connectivity solutions enabling emerging data center architectures, recently appointed David K. Raun as its president and chief executive officer. A new addition to the company’s board of directors, David K. Raun previously served as interim president and CEO.
Run’s performance as an interim president and CEO has been excellent. Under his leadership, the attrition rate at PLX has gone lower and the product execution is back on track after the IDT merger process.
Moreover, the company managed to divest unprofitable businesses, reducing the operating expenses by about $20 million. This resulted in a much improved cash balance.
"We are excited to appoint David Raun as CEO and director of PLX," said James Guzy, chairman of the board at PLX. "Dave has demonstrated outstanding leadership for many years at PLX and especially during his time as interim CEO. Despite the uncertainty caused by the protracted IDT merger process which just terminated, employees are excited about the company direction, attrition remains low, product execution is on track and the company continues to successfully advance its PCI (News - Alert) Express initiative with its customers.”
“Dave has deep knowledge of our customers, our employees, our sales and distribution channels, and our competitive environment,” he added. “PLX is in the first stages of deploying its unique ExpressFabric strategy, and Dave has the leadership skills, market insight and company knowledge to successfully drive this initiative."
Based in Sunnyvale, Calif., PLX provides semiconductor-based connectivity solutions primarily targeting the enterprise and consumer markets. The company develops innovative software-enriched silicon that enables product differentiation, reliable interoperability and superior performance.
"I am honored the board has selected me to this role and I am committed to making PLX a profitable stand-alone company providing increased shareholder value," said David Raun, president and CEO, PLX. "I am very excited about PLX's prospects as an independent company and eager to lead this terrific group of people in retaining and growing our PCI Express leadership position. Our broad portfolio of Gen 3 switches drove record design activity this past year throughout the data center. We have a solid foundation for long term growth, profitability and positive cash flow."
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Edited by Braden Becker