Brief: Semtech Chair Steps Down Over Options Investigation
John "Jack" Powe has taken a leave of absence from the Semtech board pending the conclusion of an ongoing investigation into past stock option granting practices.
SAN FRANCISCO Semtech Corp. has appointed Rockell Hankin chairman of its board of directors, replacing John "Jack" Powe, the company said Friday (Aug. 25). Powe has taken a leave of absence from the board pending the conclusion of an ongoing investigation into past stock options granting practices.
Hankin, 59, has been a Semtech director since 1988 and vice chair of the company's board of directors since 1998. He is a private investor and a director of Sparta Inc., as well as two private companies.
Poe informed Semtech that he was stepping down and chairman and taking a leave of absence "in order to avoid even the appearance of a conflict of interest," Semtech (Camarillo, Calif.) said.
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