- After 36 years in the position
- Praise and thanks for Tran
- Elias Nader taking over in the interim
- Tran said 51 words
(exechange) — Fremont, California, January 29, 2018 — Thinh Tran, chief executive of Sigma Designs, leaves. It is an abrupt change. As announced by Sigma Designs, Inc. in a news release and in a regulatory filing published on Monday, January 29, 2018, Thinh Q. Tran has left his post as Chief Executive Officer at the maker of system-on-a-chip semiconductor technologies after 36 years in the position, effective January 26, 2018.
It is the end of an era.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past twelve months was 9.1 years, according to data compiled by exechange. Only 2 percent of the CEOs who departed over the past twelve months left the position after more than 30 years.
Tran’s duties will be taken over in the interim by Elias Nader, currently Chief Financial Officer at Sigma Designs, Inc.
No reason given
In the announcement, Sigma Designs did not explicitly explain the obviously compelling reason for Tran’s sudden move, opening the door for speculation.
Precise information about Tran’s future plans was not immediately available.
Sigma Designs said: “Sigma Designs, Inc. … today announced the departure of Mr. Thinh Tran, President and Chief Executive Officer, from his positions at Sigma Designs and from its Board of Directors, effective January 26, 2018.”
“Did not resign as a member of the Board due to any disagreement”
“Mr. Tran did not resign as a member of the Board due to any disagreement with the Company,” Sigma Designs said.
It is a phrase that may be intended to prevent false rumors. It may also fuel further speculation and raise more questions than it answers. Such a phrase should be read very carefully. The exact wording may be insightful.
Share price decline
The change follows a decline in the share price of Sigma Designs, Inc. since June 2015.
In the position of CEO since 1982
Thinh Q. Tran is a Co-Founder of Sigma Designs, Inc., and has been its Chief Executive Officer and President since its inception in February 1982.
Thinh Q. Tran has served as a member of the Company’s Board of Directors since the founding of the company in 1982.
Prior to founding Sigma Designs, Inc., Tran was employed by Amdahl Corporation and Trilogy Systems Corporation, both of which were involved in the IBM-compatible mainframe computer market.
Tran received a bachelor’s degree in Electrical Engineering from the University of Wisconsin and a master’s degree in Electrical Engineering from Stanford University.
Read the full story in the exechange report 6.2018 ($).