MOUNTAIN VIEW, Calif. -- TelCom Semiconductor Inc. here has shuffled its executive staff, naming a new president and promoting another manager to head up product definition and development.
TelCom's chief financial officer, Bob Gargus, has been promoted to president in the reorganization of top management, said Phillip M. Drayer, the company's CEO. In addition, TelCom promoted Ed Mitchell to executive vice president of strategic marketing and new product development.
Drayer said the new executive appointments are aimed at leveraging new business opportunities for TelCom, which struggled back this year from losses in 1998. TelCom's net income for the first nine months of 1999 was $9.1 million vs. a net loss of $3.2 million for the same period last year.
"In order to take TelCom to the next step in its evolution, it is necessary for me to focus on evaluating potential acquisitions and strategic alliances," Drayer said. "These appointments not only recognize the outstanding contribution of these individuals, but also allows them to make the day to day business decisions while freeing up my time to focus on these new endeavors."
In his new role, Gargus will be responsible for the day-to-day operations of the company, which makes and linear and mixed-signal ICs. Gargus had been the CFO at TelCom for the past 18 months. He was previously president of Atalla, a division of Tandem Computers Inc. which is now part of Compaq Computer Corp.
Mitchell was previously vice president of engineering at TelCom. He will be responsible for the company's new products, focusing on strengthening the company's product definition and development.