Internal strife at Tessera

NUREMBERG, Germany – Packaging intellectual property licensor Tessera Technologies Inc. announced that two members of its board of directors have said they will resign unless a third board member quits.

Tessera (San Jose, Calif.) said in a statement that John Goodrich and Kevin Rivette submitted a joint letter on Feb. 22 to the company's board of directors stating that they would each resign, effective March 1, unless Robert Boehlke has resigned by then from the board of directors.

Tessera added that Boehlke has informed the company in writing that he does not intend to resign and that it therefore expects the resignations of Goodrich and Rivette to take effect on March 1, 2013.

No statement was included from Robert Young, Tessera's CEO. However, on Feb. 19 the company announced that it had received a letter from Starboard Value IP, one of the company's largest shareholders. That letter was highly critical of how Tessera has been run and stated that it is seeking to put up its own slate of directors for election at the 2013 annual meeting.


Related links and articles:

www.tessera.com

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