Summary
Analog Devices, Inc. (ADI) filed an 8-K report on January 4, 2008, primarily to announce a change in its Board of Directors. Ms. Christine King, the President and CEO of AMIS Holdings, Inc., will not be standing for re-election as a Class III Director at ADI's upcoming 2008 Annual Meeting of Shareholders. This decision is a direct consequence of the planned acquisition of AMIS Holdings by ON Semiconductor Corporation. Ms. King will officially step down from her director role on March 11, 2008, the date of the annual meeting.
Key Highlights
- 1Christine King, President and CEO of AMIS Holdings, Inc., will not seek re-election as a Class III Director at Analog Devices' (ADI) 2008 Annual Meeting.
- 2Ms. King's decision is directly linked to the planned acquisition of AMIS Holdings by ON Semiconductor Corporation.
- 3Ms. King will officially conclude her service as a Class III Director on March 11, 2008.
- 4This filing relates to a director's departure and is not indicative of any operational or financial changes within ADI itself.
- 5The event date reported is January 2, 2008, with the filing date being January 3, 2008.
Frequently Asked Questions
The main reason for this 8-K filing is to inform investors about the departure of Ms. Christine King, a Class III Director on Analog Devices' Board of Directors.
Ms. King is stepping down because of the planned acquisition of AMIS Holdings, Inc., where she serves as President and CEO, by ON Semiconductor Corporation. This event has prompted her decision not to stand for re-election.
Based on the information provided in this 8-K, the departure is directly related to an external corporate event (the acquisition of AMIS Holdings) and is not presented as an indicator of any financial or operational problems within Analog Devices itself.
Ms. King will officially cease serving as a Class III Director on March 11, 2008, which is the date of Analog Devices' 2008 Annual Meeting of Shareholders.