GREENSBORO, N.C., April 05, 2022 (GLOBE NEWSWIRE) — Qorvo, Inc. (NASDAQ: QRVO) at this time introduced that Chief Monetary Officer Mark Murphy is leaving the Firm efficient April 18, 2022. Mr. Murphy was appointed Qorvo’s CFO in June 2016 and is departing to hitch Micron Expertise, Inc. as its CFO.
Qorvo has initiated a complete seek for a brand new CFO. Qorvo’s Vice President of Treasury, Grant Brown, has been named interim CFO by way of the transition interval.
“On behalf of the Board of Administrators and Qorvo’s administration group, we thank Mark for his many contributions to Qorvo,” mentioned Bob Bruggeworth, CEO of Qorvo. “Qorvo has constructed a high-performing finance group below Mark that has been crucial to executing our strategic priorities.
“Grant has been with Qorvo for a few years and has been a key a part of our disciplined development, main varied features in our finance group,” Bruggeworth continued. “He has in depth information of our enterprise and is uniquely positioned to help Qorvo throughout this era as we ship on our monetary and strategic initiatives.”
The corporate’s steering for its fiscal 2022 fourth quarter, offered February 2, stays unchanged.
About Qorvo
Qorvo (Nasdaq:QRVO) makes a greater world attainable by offering revolutionary Radio Frequency (RF) options on the middle of connectivity. We mix product and expertise management, systems-level experience and international manufacturing scale to shortly resolve our clients’ most advanced technical challenges. Qorvo serves various high-growth segments of enormous international markets, together with superior wi-fi units, wired and wi-fi networks and protection radar and communications. We additionally leverage distinctive aggressive strengths to advance 5G networks, cloud computing, the Web of Issues, and different rising purposes that develop the worldwide framework interconnecting folks, locations and issues. Go to www.qorvo.com to learn the way Qorvo connects the world.
Qorvo is a registered trademark of Qorvo, Inc. within the U.S. and in different international locations. All different logos are the property of their respective homeowners.
This press launch contains “forward-looking statements” throughout the that means of the protected harbor provisions of the Personal Securities Litigation Reform Act of 1995. These forward-looking statements embrace, however are usually not restricted to, statements about our plans, targets, representations and contentions, and are usually not historic information and sometimes are recognized by use of phrases akin to “could,” “will,” “ought to,” “might,” “count on,” “plan,” “anticipate,” “imagine,” “estimate,” “predict,” “potential,” “proceed” and comparable phrases, though some forward-looking statements are expressed in a different way. You need to be conscious that the forward-looking statements included herein signify administration’s present judgment and expectations, however our precise outcomes, occasions and efficiency might differ materially from these expressed or implied by forward-looking statements. We don’t intend to replace any of those forward-looking statements or publicly announce the outcomes of any revisions to those forward-looking statements, aside from as is required below U.S. federal securities legal guidelines. Our enterprise is topic to quite a few dangers and uncertainties, together with these referring to fluctuations in our working outcomes; our substantial dependence on growing new merchandise and attaining design wins; our dependence on a number of giant clients for a considerable portion of our income; the COVID-19 pandemic materially and adversely affecting our monetary situation and outcomes of operations; a lack of income if protection and aerospace contracts are canceled or delayed; our dependence on third events; dangers associated to gross sales by way of distributors; dangers related to the operation of our manufacturing services; enterprise disruptions; poor manufacturing yields; elevated stock dangers and prices as a consequence of timing of buyer forecasts; our lack of ability to successfully handle or preserve evolving relationships with platform suppliers; our skill to proceed to innovate in a really aggressive business; underutilization of producing services on account of business overcapacity; unfavorable adjustments in rates of interest, pricing of sure valuable metals, utility charges and overseas foreign money trade charges; our acquisitions and different strategic investments failing to attain monetary or strategic targets; our skill to draw, retain and inspire key staff; guarantee claims, product remembers and product legal responsibility; adjustments in our efficient tax price; adjustments within the favorable tax standing of sure of our subsidiaries; enactment of worldwide or home tax laws, or adjustments in regulatory steering; dangers related to environmental, well being and security laws, and local weather change; dangers from worldwide gross sales and operations; financial regulation in China; adjustments in authorities commerce insurance policies, together with imposition of tariffs and export restrictions; we could not have the ability to generate adequate money to service all of our debt; restrictions imposed by the agreements governing our debt; our reliance on our mental property portfolio; claims of infringement of third-party mental property rights; safety breaches and different comparable disruptions compromising our data; theft, loss or misuse of private information by or about our staff, clients or third events; provisions in our governing paperwork and Delaware regulation could discourage takeovers and enterprise mixtures that our stockholders would possibly contemplate to be of their greatest pursuits; and volatility within the worth of our widespread inventory. These and different dangers and uncertainties, that are described in additional element in Qorvo’s most up-to-date Annual Report on Type 10-Okay and in different reviews and statements filed with the Securities and Trade Fee, might trigger precise outcomes and developments to be materially completely different from these expressed or implied by any of those forward-looking statements.
At Qorvo®
Doug DeLieto
VP, Investor Relations
1.336.678.7968
