16 March 2011

Avago announces changes to board

Avago Technologies Ltd of San Jose, CA, USA and Singapore, which designs and supplies analog interface components for communications, industrial and consumer applications (with a focus on III-V based products), said last week that James A. Davidson, David M. Kerko and Bock Seng Tan have tendered their resignations from its board of directors due to a re-organization following the secondary public offerings of Avago ordinary shares by sponsor shareholders at the end of February.

Davidson and Kerko were director designees of Silver Lake and KKR, respectively, and Bock Seng Tan was originally the director designee of Seletar Investments Pte Ltd. Following the sale of shares in February, under the terms of Avago’s Second Amended and Restated Shareholder Agreement, Silver Lake and KKR are each currently entitled to designate only one member to the board. Seletar ceased to be entitled to designate a member following its sale of shares in a secondary offering last December.

Davidson, Kerko and Bock Seng Tan were nominated for re-election to the board at the firm’s upcoming 2011 Annual General Meeting of shareholders (AGM), due to take place on 30 March. However, following their resignations, each has withdrawn as a candidate for re-election. The board has decided not to fill the vacancies.

Tags: Avago

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