Leading microcontroller and touch technology solutions company
) recently announced the appointment of Steve Skaggs as interim
Chief Financial Officer (CFO). Steve Skaggs will hold the new
office immediately after Stephen Cumming steps down from his
position of Vice President of Finance and CFO. Meanwhile, Atmel
will continue with its search for a permanent CFO.
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Steve Skaggs is currently entrusted with the responsibilities of
the Senior Vice President of Corporate Strategy & Development
division at Atmel. He brings on board 20 years of experience in
the semiconductor industry along with global business insight in
corporate restructuring and technology.
With his leadership traits, expertise and experience, Skaggs is
expected to unlock further value for the company. We believe that
Steve Skaggs' sector-specific know-how will prove beneficial for
Atmel and augment its revenues and margins going forward.
Incidentally, Atmel also increased the lower range of its revenue
guidance for first quarter 2013 from the earlier range of $311
million to $328 million to $318 million to $328 million.
With past experience in companies like Bain & Company, where
he played a major role in corporate restructuring, mergers and
acquisitions and strategic planning, Steve Skaggs is expected to
bring in transformative changes in Atmel. Steve Skaggs had also
served as the CEO and CFO of
Lattice Semiconductor Corporation
Based in San Jose, Calif, Atmel designs, develops, manufactures
and sells integrated circuit (IC) products. These products
include microcontrollers, advanced logic, mixed-signal,
non-volatile memory and radio frequency (RF) components. Atmel
produces non-volatile memory that stores information after power
is turned off and combines this with microcontrollers, digital
signal processors and other products to meet the needs of its
The company operates in an intensely competitive landscape that
includes big players such as
). Atmel currently has a Zacks Rank #3 (Hold). One of its
competitors, Semiconductor Manufacturing
) carries a Zacks Rank #1 (Strong Buy).