Chipmaker Vida mentioned on Monday it had appointed a former Cisco and Microsoft executive as its new chief financial officer, ending a search of greater than two years after its earlier CFO left.
Colette Kress, who has worked in the expertise trade for twenty-four years, replaces interim CFO Karen Burns, who stepped in after Vida’s previous CFO David White left in may just 2011 for personal causes. The appointment of a brand new CFO was considered as not going to mark any major modifications at Vida, which is expanding into capsules and smart phones as its core industry of marketing photos chips for personal computers faces force.
“if in case you have an awfully sturdy CEO, as Vida does, the technique and route very evidently comes from the corner place of work, so a CFO change isn’t indicative of an inflection point within the route of the company,” mentioned RBC Capital analyst Doug Freedman. Vida Chief executive and co-founder Jen-Shun Huang said in a statement that Kress, who most just lately used to be senior vice chairman and chief monetary officer at Cisco’s business know-how and Operations Finance organization, would assist the corporate prolong into visual computing, mobile and cloud computing.
Burns will return to her earlier job as Vida’s controller, firm spokesman Robert Sherwin mentioned in an e-mail. “We have been ready unless we discovered the right match. In the intervening time, our meantime CFO was once doing a really perfect job, which gave us time to hold off except we discovered the suitable individual,” Sherwin mentioned. Shares of Vida edged up to $15.83 in extended change after closing up zero.06 % at $15.eighty one.