SUNNYVALE, Calif., August 18, 2004 — Silicon Image, Inc. (Nasdaq: SIMG), a leader in multi-gigabit semiconductor solutions for the secure transmission and storage of rich digital media, today announced that Chief Financial Officer, Robert G. Gargus, plans to retire from the company in early 2005.
"The decision to retire was based on my desire to spend more time with my family. Nevertheless, I want to assure everyone, that I plan to stay on until a new CFO is hired and an orderly transition has taken place. Given that the company has a CEO search underway, it makes sense to complete that search and then include the new CEO in the hiring of my replacement. Therefore, the exact timing of my departure can only be approximated as sometime in early 2005. This timing is consistent with my desire to continue with undiminished commitment in my role and responsibilities through the end of our fiscal year, and with the completion of Sarbanes-Oxley 404 requirements and our 2004 10-K," said Mr. Gargus.
Commenting on today's announcement, David Lee, chairman and CEO, stated, "Bob has made numerous contributions to Silicon Image to date and will no doubt continue to do so. I look forward to continuing to work with Bob as we execute on the company's business goals and management succession plan. We respect Bob's decision and we especially appreciate his cooperation in ensuring that an orderly transition occurs. In the interim we will continue to rely upon Bob as a valued member of the executive team." >
The company also announced that the Board of Directors has named Dale Brown, the company's corporate controller, as the Company's Chief Accounting Officer. Dale joined Silicon Image in April of this year and has more than 20 years of accounting and financial expertise, most recently at 3Com Corporation where he held the title of Senior Finance Director/ Assistant Corporate Controller.About Silicon Image
Headquartered in Sunnyvale, Calif., Silicon Image, Inc. designs, develops and markets multi-gigabit semiconductor and system solutions for a variety of communications applications demanding high-bandwidth capability. With its proprietary Multi-layer Serial Link (MSL™) architecture, Silicon Image is well positioned for leadership in multiple mass markets including PCs, consumer electronics, and storage. Silicon Image is a leader in the global PC/display arena with its innovative digital interconnect technology and is now emerging as a leading player in the fields of storage and consumer electronics by offering robust, high-bandwidth semiconductors. For more information on Silicon Image, visit www.siliconimage.com
Safe Harbor Statement
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to future executive hires and departures. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. In particular, future executive hires and departures may not occur in the time frames currently anticipated. In addition, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors Affecting Future Results" in the most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K filed by Silicon Image with the SEC. Silicon Image assumes no obligation to update this forward-looking information. ###
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