Exhibit 99.1
Pericom Semiconductor Announces Resignation of CFO
SAN JOSE, Calif., Nov. 1 /PRNewswire-FirstCall/ -- Pericom Semiconductor Corporation (Nasdaq: PSEM) today announced that Michael D. Craighead, Chief Financial Officer, has resigned his position. The Company is in the process of identifying a new CFO, and expects to announce a replacement soon. Mr. Craighead has agreed to remain with the Company in his current capacity through January 31, 2006 to facilitate a smooth transition.
Alex Hui, President and Chief Executive Officer of Pericom said, “Mike has been a great contributor to Pericom since he joined the company in July 1999, and assumed the role of CFO in October 2000. We regret Mike’s decision to leave, but appreciate his willingness to stay on through January 31 to work with his replacement, and we wish him the very best in the future”.
Mr. Craighead said, “This was a very difficult decision as I believe the Company is positioned well for the future, however after six plus years I am simply ready to move on and embrace some new challenges.”
Pericom Semiconductor Corporation offers customers worldwide the industry’s most complete silicon and quartz based solutions for the Computing, Communications, and Consumer market segments. Our broad portfolio of leading- edge analog, digital, and mixed-signal integrated circuits and SaRonix frequency control products are essential in the timing, transferring, routing, and translating of high-speed signals as required by today’s ever-increasing speed and bandwidth demanding applications. Company headquarters are in San Jose, California, with design centers and sales offices located globally. http://www.pericom.com
This press release contains forward-looking statements as defined under The Securities Litigation Reform Act of 1995. Forward-looking statements in this release include statements that Mr. Craighead will remain with the Company through January 31, 2006, that a replacement will be announced soon, and that there will be a smooth transition. Actual results could differ materially should there be difficulty in finding a replacement. All forward-looking statements included in this document are made as of the date hereof, based on information available to the company as of the date hereof, and Pericom assumes no obligation to update any forward-looking statements. Parties receiving this release are encouraged to review our annual report on Form 10-K/A for the year ended July 2, 2005 and, in particular, the risk factors sections of that filing.
SOURCE Pericom Semiconductor Corporation
-0- 11/01/2005
/CONTACT: Mike Craighead, VP/Chief Financial Officer of Pericom Semiconductor Corporation, +1-408-435-0800, or fax, +1-408-435-1100/
/Web site: http://www.pericom.com /
(PSEM)
