- Push-out Score determined
- After almost 18 years in the position
- Praise and thanks for Wertheizer
- Amir Panush taking over
- Wertheizer said 82 words
(exechange) — Rockville, Maryland, November 9, 2022 — Gideon Wertheizer, chief executive of Ceva, leaves his position. As announced by Ceva Inc. in a news release on Wednesday, November 9, 2022, Gideon Wertheizer leaves his post as chief executive officer at the licensor of wireless connectivity and smart sensing technologies, after almost 18 years in the role, effective December 31, 2022.
It is the end of an era.
Gideon Wertheizer’s duties as CEO will be taken over by Amir Panush, most recently Chief Executive Officer at InvenSense, Inc.
The fact that Gideon Wertheizer’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“Following an extensive search”
Ceva did not give an explicit reason for Gideon Wertheizer’s departure from the CEO post. Ceva said: “Amir Panush was selected to succeed Mr. Wertheizer as CEO following an extensive search. Having been based in the U.S. for the past 17 years, Mr. Panush will relocate to Israel in the coming months.”
Precise information regarding Gideon Wertheizer’s future plans was not immediately available.
“Retire”
Ceva said: “CEO Gideon Wertheizer has chosen to retire at the end of 2022.”
Share price decline since November 2021
The announcement follows a decline in Ceva Inc.’s share price of 37% since November 2021.
In the position of CEO since 2005
Gideon Wertheizer became CEO of the Company in 2005.
Wertheizer will continue to serve as an active member of Ceva’s board of directors and will be employed in an advisory role in the near term to ensure a smooth leadership transition.
Wertheizer has served as a member of the Company’s board of directors since January 2010.
He has held the position of the Company’s Chief Executive Officer since May 2005.
Wertheizer has 34 years of experience in the semiconductor and Silicon Intellectual Property (SIP) industries.
He previously served as the Company’s executive vice president and general manager of the DSP business unit.
Prior to joining the Company in November 2002, Wertheizer held various executive positions at DSP Group, Inc., including such roles as executive vice president – strategic business development, vice president for marketing and vice president of VLSI design.
Wertheizer holds a BsC for electrical engineering from Ben Gurion University in Israel and executive MBA from Bradford University in the United Kingdom.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Gideon Wertheizer’s move on a scale of 0 to 10.
exechange reached out to Ceva and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 46.2022 ($).