Thursday, January 20, 2011

Trident Microsystems CEO and President both resign

SUNNYVALE, Calif., Jan. 19, 2011 – Trident Microsystems, Inc. (NASDAQ: TRID), a leading provider of set-top box and TV semiconductor solutions, today announced that Sylvia Summers Couder has resigned as CEO and as a director to pursue other opportunities. The company also announced that Mr. Philippe Geyres has been appointed as Interim CEO effective immediately and that the company has initiated a search for a CEO following this transition. Mr. Geyres is a candidate for the permanent CEO position.

“Sylvia Summers’ accomplishments at Trident have been substantial. She oversaw a significant management transition early in her tenure and worked closely with the board to reposition the company. We greatly appreciate her efforts and leadership, including the recent management of the integration of the NXP and Micronas assets and the cost reductions that have been achieved,” said David Courtney, Chairman of the Board.

“We are pleased and excited that Philippe Geyres has agreed to assume the role of Interim CEO. We believe his background and experience will be quite helpful during this transition and that he will bring a valuable perspective and focus to our business,” said Mr. Courtney.

Mr. Geyres joined Trident’s board in February 2010 following the company’s acquisition of certain assets of NXP. Mr. Geyres has substantial executive experience. He was CEO of Oberthur Card Systems, a French publicly listed smart card company during 2007 and 2008. He was previously an executive at ST Microelectronics from 1983 to 2006, most recently as Executive Vice President, Consumer and Telecom Products. Prior to that, he held positions at Fairchild Semiconductor and IBM. Mr. Geyres serves as a member of the board of directors of Advanced Digital Broadcast, a Swiss company listed in Zurich, and of Arteris, a privately held networking IP company.

The company also announced that Christos Lagomichos has announced his departure from Trident and resignation as its President effective Feb. 9, 2011.

“We want to thank Mr. Lagomichos for his service to Trident, and particularly the assistance he has provided in implementing our transition plan following the transaction with NXP,” said Mr. Courtney.