Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that Stephen N. Ananias will assume the role of senior vice president and chief financial officer of the company effective October 31, 2011. Ananias joins the company from Broadcom Corporation (NASDAQ: BRCM), where he served for more than 11 years in various finance positions of increasing responsibility, most recently as controller, Broadband Communications Group, a $2 billion semiconductor division of Broadcom. Ananias will report directly to Raouf Y. Halim, Mindspeed's chief executive officer.
"We are delighted to appoint a new chief financial officer of Stephen's caliber with a demonstrated management track record in the semiconductor industry. Stephen has a compelling combination of strategic planning and corporate development expertise, with a proven record of driving operating profitability," said Halim. "I look forward to working closely with Stephen as we pursue the growth opportunities ahead of us in next generation communications infrastructure markets."
"Mindspeed is undergoing an exciting transformation, with its successful entrance into the wireless infrastructure market," said Ananias. "I am grateful to join the high-performance team at Mindspeed at this stage of its growth, and will focus on improving the company's financial position and operating leverage."
Ananias has a 14-year track record of financial management responsibility at Broadcom and at LSI Corporation (NYSE: LSI). During his career at Broadcom, Ananias served as director of corporate development and strategic planning for five years before assuming the role of controller, Broadband Communications Group.
Ananias received a bachelor of business administration degree and a bachelor of science degree from the University of Kentucky, and a master of business administration degree from the Marshall School of Business at the University of Southern California.
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