Analysis
Zarlink Announces CEO Succession
The Board of Directors of Zarlink Semiconductor Inc. announces that Gary Tanner has been appointed Zarlink's President & Chief Executive Officer, effective May 24, 2011, prior to the Company's Board Meeting to be held on May 25, 2011.
GaryGary brings a record of strong leadership to Zarlink's management team, said Adam Chowaniec, Chairman of the Board, Zarlink Semiconductor. Gary has a deep understanding of our business, from supplier relationships through to customer requirements and changing market dynamics. Under his leadership, we have seen revenue for our Communication Products Group grow at double-digit rates. I have every confidence that Gary and his management team will lead Zarlink to even greater success as they work to accelerate the Company's focus on growth opportunities.
Mr. Tanner succeeds Kirk Mandy, who will remain President & Chief Executive Officer until May 23, 2011. Mr. Mandy's distinguished career spans over 34 years, 27 of which have been with Zarlink and its predecessor, Mitel Corporation. Mr. Mandy will be available as a consultant to the Company following his departure.
As a management team, we have built a stronger company delivering the right combination of products to improve our market position, gain market share and deliver long-term value for our shareholders, said Mr. Mandy. As Zarlink enters a new period with a greater emphasis on growth, this is an opportune time to transition leadership. Gary's knowledge, insight and close relationships with our customer and suppliers made him a valued member of my management team, and will benefit Zarlink as he assumes leadership of the Company.
Kirk led the Company through a period of significant challenges and opportunities, said
Mr. Chowaniec. During his tenure, Kirk met key milestones by increasing Zarlink's revenue and margins, filling its pipeline increasingly with newer products and disposing of non-strategic assets and businesses.
Kirk has had a significant impact on Zarlink, in terms of focusing its strategic direction, creating a very good balance sheet and securing relationships with key customers and suppliers, said Mr. Tanner. I will work closely with Kirk to ensure a smooth transition of leadership, while maintaining the strong momentum we are now seeing across key areas of the business. I am very excited by our potential, and honored by the confidence expressed by our Board.