UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 5, 2010
Lattice Semiconductor Corporation
(Exact name of registrant as specified in its charter)
| Delaware | 000-18032 | 93-0835214 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
5555 N. E. Moore Court
Hillsboro, Oregon 97124-6421
(Address of principal executive offices, including zip code)
(503) 268-8000
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02. | Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. |
Departure of Named Executive Officer; Appointment of Chief Executive Officer. On August 6, 2010, Lattice Semiconductor Corporation (the “Company”) issued a press release announcing the resignation of the Company’s President and Chief Executive Officer, Mr. Bruno Guilmart, effective September 4, 2010. Mr. Guilmart served in this position since July 2008 and is leaving the Company to pursue other opportunities. Mr. Guilmart is also resigning as a director and tendered his resignation on August 5, 2010.
The Company also announced that effective September 4, 2010, Mr. Christopher M. Fanning has been appointed to serve as interim Chief Executive Officer of the Company while the Company seeks a permanent replacement for this position.
Mr. Fanning, 47, joined the Company in 1997 and was promoted to Corporate Vice President and General Manager, Low Density & Mixed Signal Solutions in 2008. Previously, he managed the Company’s software, intellectual property and technical support businesses as Corporate Vice President, Enterprise Solutions. He also served as Vice President of Strategic Planning. Prior to joining the Company, Mr. Fanning was employed by The Boston Consulting Group.
The terms of Mr. Fanning’s compensation for services as interim Chief Executive Officer are being considered by the Compensation Committee and any changes from the current compensation will be disclosed in a report on Form 8-K once finalized.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press release, dated August 6, 2010, entitled: “Lattice Semiconductor Announces Resignation of CEO Effective September 4; Appoints Christopher Fanning as Interim CEO” (furnished herewith) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LATTICE SEMICONDUCTOR CORPORATION | ||||
| Date: August 6, 2010 | By: | /s/ Byron W. Milstead | ||
| Byron W. Milstead Corporate Vice President, General Counsel and Secretary | ||||
EXHIBIT INDEX
| Exhibit No. |
Description | |
| 99.1 | Press release, dated August 6, 2010, entitled “Lattice Semiconductor Announces Resignation of CEO Effective September 4; Appoints Christopher Fanning as Interim CEO” (furnished herewith) |
Exhibit 99.1
News Release
For more information contact:
Michael G. Potter
Chief Financial Officer
Lattice Semiconductor Corporation
503-268-8000
David Pasquale
Global IR Partners
914-337-8801
lscc@globalirpartners.com
LATTICE SEMICONDUCTOR ANNOUNCES
RESIGNATION OF CEO EFFECTIVE SEPTEMBER 4; APPOINTS CHRISTOPHER FANNING AS INTERIM CEO
HILLSBORO, OR – August 6, 2010 - Lattice Semiconductor (NASDAQ: LSCC) today announced that Bruno Guilmart has resigned as President and CEO effective September 4, 2010 to pursue other opportunities. Mr. Guilmart is also resigning as a director and tendered his resignation on August 5, 2010. The Board has appointed Christopher M. Fanning as interim Chief Executive Officer, also effective September 4, 2010. Mr. Fanning currently serves as Lattice’s Corporate Vice President and General Manager, Low Density & Mixed Signal Solutions. The Company intends to undertake a formal search for a new CEO.
Patrick S. Jones, Chairman of the Board of Directors, said, “Bruno has been instrumental in Lattice’s return to profitability and we wish him well in his future endeavors. We are grateful to him for his efforts and success at helping Lattice better realize the Company’s potential. The Board is confident moving forward under the leadership of Chris Fanning, a proven Lattice executive respected by his peers and our customers, and one of the key executives driving our successful turnaround. We remain focused and in a strong competitive position given the Company’s world-class organization, momentum with customers, targeted product families, and product roadmap.”
Christopher Fanning joined Lattice in 1997 and was promoted to Corporate Vice President and General Manager, Low Density & Mixed Signal Solutions in 2008. Previously, he managed Lattice’s software, intellectual property, and technical support businesses as Corporate Vice President, Enterprise Solutions. He has also served as Vice President of Strategic Planning where he focused on Sales, Marketing, and M&A related matters. He holds an AB and MS in Computer Science from Boston College and Worcester Polytechnic Institute, respectively, and an MBA from The University of Chicago’s Graduate School of Business. Prior to joining Lattice, Mr. Fanning was employed at The Boston Consulting Group, a leading international management consulting firm.
No conference call will be held in conjunction with this update.
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About Lattice Semiconductor:
Lattice is the source for innovative FPGA, PLD, programmable Power Management and Clock Management solutions. For more information, visit www.latticesemi.com.
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Lattice Semiconductor Corporation, Lattice (& design) and L (& design) are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.
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