Tuesday, May 8, 2007
Heads are rolling at Marvell Technologies Group, as a special board investigation found numerous instances of stock options back-dating. Matthew Gloss, General Counsel of the U.S. subsidiary, wa fired, the CFO has resigned, and the board has urged the CEO to give up the position as chairman of the board. The COO will step down to a lower position in the company and resign as director. See WSJ, Marvell's Finance Chief Resigns in Wake of Probe.