SAN FRANCISCO—Technology licensor Rambus Inc. has begun searching for a new CEO to replace Harold Hughes, who plans to retire, the company said Monday (Feb. 27).
Hughes, who took over as Rambus CEO in 2005 and has been on the company's board of directors since 2003, will remain CEO until a successor is named, Rambus (Sunnyvale, Calif.) said. He will be nominated for election to another term as a director at the company's annual stockholder’s meeting in April, the company said.
"Rambus is on a strong path as a result of our diversification strategy and recent license agreements with key semiconductor companies," Hughes said in a statement. "Given this, I have decided it is time to start the process of identifying my successor and help the company move into the next phase."
J. Thomas Bentley, Rambus's chairman, said Hughes would continue to be involved in helping management execute on the strategy he championed as CEO. "With Harold’s vision and foresight through a series of key acquisitions in new technology areas and continued development in the core technology, we feel the stage is set for finding a successor to lead Rambus forward."