Analog Devices, Inc. (ADI)

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Analog Devices Inc. (ADI)

March 13, 2013 9:00 am ET


Margaret K. Seif - Vice President, General Counsel and Secretary

Ray Stata - Founder and Chairman

Jerald G. Fishman - Chief Executive Officer and Director

Robert P. McAdam - Executive Vice President of The Strategic Market Segments Group

Thomas Wessel - Vice President of Worldwide Sales


Margaret K. Seif

Good morning, everyone. It is 9:00 and we're ready to begin our Annual Meeting of Shareholders of Analog Devices. My name is Margaret Seif, I'd like to welcome everyone here today joining us at our corporate headquarters and also those of you listening via the web. Please note that rules of conduct and procedure apply to this meeting and are available in the voting area over there if you wish to inspect them. Our agenda today will begin with prepared remarks from our Chairman, Ray Stata. We'll then proceed to the formal meeting, and we will conclude with remarks by our CEO, Jerry Fishman. So without further delay, I'd like to introduce ADI Co-Founder and Chairman of the Board, Ray Stata.

Ray Stata

Thank you, and good morning, everyone, and thank you, Marnie, for the introduction. And I'd like to add my welcome to those who come to our 2013 Annual Stockholders Meeting. I'll begin by introducing the corporate officers who are with us today. First, Vincent Roche, the President of Analog Devices. Vincent, I think -- particularly take -- make note of the fact that I'm sure all of you seen that Vincent was promoted to President this past year, and he's taken a lot of new responsibilities, and along with him, a number of others in the senior management ranks, who are promoted to share the load, and Jerry is going to talk a bit about -- more about that in his remarks. Also here is David Zinsner, our Vice President of Finance and Chief Technical Officer; Sam Fuller, Vice President of Research and Development and our Chief Technical Officer; Bill Matson, Vice President of Human Resources; Robbie McAdam, Executive Vice President of our Strategic Business Segments Group; and Dick Meaney, Vice President of our Products and Technology Group; and Marnie Seif, Vice President, General Manager and Secretary -- General Counsel, I should say; Thomas Wessel, Vice President of Sales; and Robert Yung, Vice President of Corporate Development and Chief Strategic Officer; and finally, Jerry Fishman, our CEO.

I'd also like to just introduce the Board of Directors who are with us today: Jim Champy; John Hodgson -- Jim, John Hodgson; Yves-Andre Istel; Neil Novich; Grant Saviers; Paul Severino; Ken Sicchitano. And I'd also like to extend a special welcome to Lisa Su, who joined us last year as our newest director. Lisa has a distinguished record of leadership both in the managerial and the technical arena and a long career at both Freescale, IBM, and more recently, at AMD where she is the Senior Vice President and General Manager of Global Business Units. So Lisa joined us in June of 2012 and is serving on our -- as a member of our nominating and governance committee, and we're pleased that she's sitting for election here today.

Next, I'd like to introduce to you our independent auditors, Ernst & Young, and we're asking our shareholders today to ratify the selection of Ernst & Young as our auditors for 2013, and representing EY here today is Michael Terrell [ph]. And finally, I'd like to introduce Mark Borden, a long friend of Analog Devices, our General Counsel from Wilmer Hale.

So before we begin the formal part of our meeting today, I wanted to mention just a few of the highlights for 2012. First, in April of last year, Analog's stock began trading on the NASDAQ, which I think is now recognized throughout the world as the leading exchange for innovative high-technology companies. In December of last year, Analog Devices was added to the NASDAQ 100, which is an index of the largest NASDAQ companies rated by their market cap. Our market cap today stands at about $14 billion. If you happened to be in New York -- in Time Square last week, you may have seen our logo, up on the iconic NASDAQ tower. Here's what you would have seen.


Ray Stata

So we -- Dave tried very hard to get them to play that on New Year's Eve, but somehow he failed. So the other thing I'd point out is that in 2012, Analog was named a top 100 innovator by Thomson Reuters. This is the second time that Analog has been so recognized, and that's quite a distinguished recognition because it's done on the basis of rather thorough examination of what qualifies for that amongst many, many thousands of firms. In 2012, we were also published -- we also published our sustainable report, the third one we reported, which chronicles Analog's leadership in environmental health and safety stewardship. We achieved the highest score amongst all the Analog semiconductor companies for the quality of our disclosures and for our performance on the actions taken to mitigate air, water and climate impact. So Analog's score rose to 76 in 2012, up from 49 the year before. We were also honored as one of America's greenest companies, again, for the third consecutive year by BusinessWeek. And moreover, Forbes Magazine reported that Analog Devices was named to the top 25 list of socially responsible dividend paying stocks. So all in all in many ways, 2012 was a very successful year for Analog Devices, for our employees, our customers, our stockholders, for everyone, and I'd like to just congratulate the team and all of our employees for the outstanding job that they did once again in maintaining our leadership in the high-performance, surreal world signal processing industry. Thank you.

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