Management ChangeJun 11, 2026, 04:37 PM
Marvell Appoints Daniel Durn as CFO; Willem Meintjes Resigns
AI Summary
Marvell Technology, Inc. announced the resignation of Willem Meintjes as Chief Financial Officer and Executive Vice President, effective June 15, 2026. Daniel Durn, previously a member of the Board of Directors, has been appointed as the new CFO and Executive Vice President, effective June 15, 2026. Mr. Meintjes will remain in an advisory capacity through April 2027 to support an orderly transition. The company also reaffirmed its financial outlook for the second quarter of fiscal 2027.
Key Highlights
- Willem Meintjes resigned as CFO and Executive Vice President, effective June 15, 2026.
- Daniel Durn appointed as CFO and Executive Vice President, effective June 15, 2026.
- Mr. Durn resigned from Marvell's Board of Directors and Audit Committee on June 10, 2026.
- Mr. Durn's annual base salary is $850,000, with a target annual incentive bonus of 120% of base salary.
- Mr. Durn will receive a one-time cash sign-on bonus of $1,000,000.
- Mr. Durn will receive four RSU grants, each for 25,877 shares, with various vesting schedules.
- Marvell reaffirmed its financial outlook for the second quarter of fiscal 2027.
Price Impact
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