8-KLeadership ChangesExhibits & Filings

MONOLITHIC POWER SYSTEMS INC 8-K Report, Executive Changes (Jan 3, 2011)

Filed January 3, 2011For Securities:MPWR

Summary

Monolithic Power Systems, Inc. (MPWR) announced a significant executive change via an 8-K filing on January 3, 2011, detailing the departure of its Chief Financial Officer, C. Richard Neely, Jr., effective December 29, 2010. Mr. Neely resigned to pursue an opportunity at another company. This marks a transition in the company's financial leadership. To fill this critical role, the Board of Directors appointed Meera Rao as the new Chief Financial Officer and Principal Financial and Accounting Officer, effective January 3, 2011. Ms. Rao brings a strong background in finance within the semiconductor industry, having served as Vice President Finance and Corporate Controller at MPWR since 2009 and previously as CFO of Integration Associates. Her extensive experience and prior work with MPS are expected to ensure a smooth transition and continued financial stewardship.

Key Highlights

  • 1C. Richard Neely, Jr., CFO, resigned from Monolithic Power Systems, Inc. effective December 29, 2010.
  • 2Mr. Neely's resignation was due to accepting a position with another company.
  • 3Meera Rao has been appointed as the new Chief Financial Officer and Principal Financial and Accounting Officer, effective January 3, 2011.
  • 4Ms. Rao joined MPWR in January 2009 as Vice President Finance and Corporate Controller.
  • 5Ms. Rao has prior experience as CFO of Integration Associates, a fabless semiconductor company.
  • 6Ms. Rao has also operated her own consulting practice focused on semiconductor companies.
  • 7The press release announcing these changes is filed as Exhibit 99.1.

Frequently Asked Questions

Mr. Neely resigned to accept a position with another company.

Meera Rao has been appointed as the new Chief Financial Officer and Principal Financial and Accounting Officer, effective January 3, 2011.

Ms. Rao has been with MPWR since January 2009 as Vice President Finance and Corporate Controller. Prior to that, she was the CFO of Integration Associates and operated her own consulting practice for semiconductor companies. She is also a CPA with an MBA.

The appointment of Meera Rao, who has been with the company for two years and has prior CFO experience in the semiconductor industry, suggests a focus on ensuring continuity. Her previous consulting work with MPS may also aid in a smooth transition.