SAN JOSE, Calif. Christine King, president and chief executive of AMI Semiconductor Inc., has received a contract extension through the end of 2008, according to a report from the Idaho State Journal.
The board of AMI Semiconductor’s parent company, AMIS Holdings (Pocatello, Ida.), earlier this month extended King's contract, which was due to expire at the end of this year, according to the report.
King’s pay has also been increased from $500,000 to $550,000 annually, according to the report. She can also earn 100 percent of salary in the form of an annual bonus for reaching certain performance goals, it added.
In June, AMI Semiconductor said that it had acquired the semiconductor division of Flextronics Inc. for $135 million in cash (see June 15 story).
Mixed-signal semiconductor supplier AMI recently realigned its business by integrating its foundry services business into its mixed-signal business unit, a move the company said would offer customers a full range of options from applications-specific products to custom designs and foundry services (see July 28 story).
Continuing to cut costs, AMI in August announced plans to consolidate its European wafer fabrication operations (see August 17 story).