16 November 2011

Anadigics’ CFO/COO Shields resigns; VP, finance & controller promoted to CFO

RF and mixed-signal semiconductor maker Anadigics Inc of Warren, NJ, USA says that Thomas Shields had resigned from the positions of chief operating officer, executive vice president, chief financial officer and secretary, in order to pursue career advancement opportunities outside of Anadigics. Shields has agreed to provide consulting services to the firm for a period of time to ensure an orderly transition of all of his current responsibilities.

“He has been instrumental in helping me transition from my previous role to my current chief executive officer role,” says CEO Ron Michels. “I would like to thank him for his assistance in that regard as well as for his many years of service and contributions to Anadigics,” he adds. Shields has been CFO since 1999.

“Ron and the Anadigics team have accomplished a great deal in a short period of time,” comments Shields, who expresses confidence in the future of Anadigics.

Terrence Gallagher, who w as VP, finance & controller, has been promoted to the positions of vice president and chief financial officer.

“I have worked with Terry for many years. He is a seasoned semiconductor industry veteran with an outstanding knowledge of both finance and the Anadigics business,” notes Michels. “The breadth and depth of Terry’s financial experience will enable him to make very meaningful contributions as we maintain our focus on a product leadership strategy that delivers improved financial performance as quickly as possible,” he adds. “I am committed to working closely with the entire Anadigics management team to return our business to profitability,” Gallagher comments.

See related items:

Anadigics’ sales rise 4.7% in Q3 to $37.3m

Tags: Anadigics

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