- Push-out Score determined
- After about six years in the position
- Luc Seraphin taking over in the interim
- Search for a successor
(exechange) — Sunnyvale, California, June 28, 2018 — Ron Black, chief executive of Rambus, leaves. It is an abrupt change. As announced by Rambus Inc. in a news release and in a regulatory filing published on Thursday, June 28, 2018, Ronald (Ron) Black leaves his post as Chief Executive Officer at the technology licensing company after about six years in the role, effective immediately.
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 12 months was 9.5 years, according to data compiled by exechange.
Rambus will undertake a search for a successor.
Black’s duties will be taken over in the interim by Luc Seraphin, most recently Senior Vice President & General Manager, Memory and Interfaces Division of Rambus Inc.
“Dr. Black’s conduct fell short of the Company’s standards”
Black’s sudden departure from the CEO post is explained as follows. Rambus said in a fairly blunt statement: “The termination follows an incident unrelated to the Company’s financial and business performance in which the Board determined Dr. Black’s conduct fell short of the Company’s standards.”
Precise information about Black’s future plans was not immediately available.
Rambus said: “the Company’s Board of Directors has terminated Dr. Ron Black as Chief Executive Officer, effective immediately.”
Rambus further said: “On June 27, 2018, the Board of Directors … of Rambus Inc. … terminated Dr. Ronald Black as President and Chief Executive Officer, effective June 28, 2018.”
Chaired by Eric Stang
Rambus Inc. is chaired by Eric Stang.
Stang has served as a director since July 2008 and has served as Chairman of the Board since March 2013.
In the position of CEO since 2012
Black has served as the Company’s chief executive officer and president since June 2012 and as a director since July 2012.
Black was previously the Managing Director of R.D. Black & Company, a consulting firm, since August 2011.
From September 2010 to August 2011, Black was the Chief Executive Officer of MobiWire, formerly Sagem Wireless, a privately-held mobile handset company headquartered near Paris, France that offers products and services to original equipment manufacturers and mobile network operators in the mobile phone marketplace.
From June 2009 to October 2010, Black served as Chairman and CEO of UPEK, Inc. Black currently serves as a board member of Energy Focus, Inc, a publicly held LED lighting technology developer, VeriFone Systems, Inc., a publicly held provider of technology for electronic payment transactions, Microfabrica Inc., a privately held high precision metal parts fabricator, and FlexEnable Limited, a privately held producer of flexible electronics manufacturing platforms. Black served on the board of Ultratech, Inc., a publicly held company that designs, builds and markets manufacturing systems of the global technology industry from July 2016 until its acquisition in May 2017.
From 2012 to March 2015, Black served on the board of EnOcean GmbH, a German-based company that manufactures and markets energy harvesting technology, sensors, and radio frequency communication.
From September 2010 to November 2012, he served as a board member of AuthenTec, Inc., which he joined following the AuthenTec-UPEK merger in September 2010 and from 2007 to 2013, he served as a board member of Inside Contactless, a France-based company engaged in the semiconductors and information technology industry.
From September 2004 to June 2009, he was chief executive officer of Wavecom S.A., a publicly traded French wireless solutions company.
Black holds a Bachelor of Science, a Master of Science, and a Ph.D. in materials science and engineering from Cornell University.
Black has also resigned from his position on the Rambus Board of Directors.
Push-out Score determined
The Push-out Score™ determined by exechange suggests that push-out forces have contributed to the change.
Read the full story in the exechange report 27.2018 ($).