Russell brings to Virage (Fremont, Calif.) more than 20 years of high-tech financial executive management experience. Most recently, Russell served as CFO of OuterBay Technologies, a database archiving company that was acquired by to Hewlett-Packard in February. Prior to that, Russell held CFO positions at Ceva Inc., a digital signal processing IP company and Persistence Software Inc. She previously held CFO or senior financial positions at Cygnus Solutions, Valence Technology, Xerox and Measurex.

Russell replaces former Virage CFO Jens Meyerhoff, who in May, after less than six months on the job, resigned to pursue an opportunity in the alternative energy market.

"With [Russell's] IP business model experience, I'm confident she will provide strong leadership to Virage Logic's financial operations and will be a key contributor to the overall success of the company as we continue to build a solid business based on both license fees and royalties," said Adam Kablanian, Virage president and CEO, in a statement.