The folks at Lattice Semiconductor have just announced that Sean Riley has joined the company as Corporate Vice President and General Manager of High Density Solutions. Concurrently, Chris Fanning has been promoted to Corporate Vice President and General Manager of Low Density and Mixed Signal Solutions.
Sean Riley was previously Vice President of Marketing for programmable logic company MathStar, Inc. and prior to that held a variety of senior management positions for Intel, most recently as Director of the Planning, Networking and Storage Group. Riley holds both a B.S. and M.S. in Electrical Engineering from Arizona State University.
Chris Fanning most recently was Corporate Vice President, Enterprise Solutions, managing Lattice's software, intellectual property and technical support businesses. He holds an A.B. and M.S. in Computer Science from Boston College and Worcester Polytechnic Institute, respectively, and an MBA from The University of Chicago's Graduate School of Business.
These executive appointments support the company's September 16 announcement that Lattice is restructuring to better align operating expenses with near-term revenue expectations, and longer-term to more efficiently implement its product strategy.
"I am extremely pleased that Sean has elected to join Lattice at this exciting point in our company's history," said Bruno Guilmart, Lattice President and CEO. "Sean's extensive background in programmable logic and the semiconductor industry, as well as in Ethernet, video and storage technologies, will be an enormous asset to Lattice as we move forward. I am equally pleased that Chris Fanning has agreed to become General Manager of Low Density and Mixed Signal Solutions. Chris has established an exceptional record of achievement during his tenure with Lattice, and he is the right person to take on the challenges of managing this critically important part of our product portfolio."
The Company also announced the grant of an employment inducement stock option award to Riley on September 22, 2008. Riley may purchase up to 450,000 shares of the Company's common stock at an exercise price of $2.27 per share pursuant to the inducement stock option. The stock option will vest 1/4th on the first anniversary of the grant date and 1/16th each three months thereafter over the remaining three-year period. The option grant has an expiration date of September 22, 2015.