Corporate GovernanceMay 13, 2026, 04:21 PM
Marvell Technology Files Definitive Proxy for 2026 Annual Meeting
AI Summary
Marvell Technology, Inc. filed its definitive proxy statement for the Annual Meeting of Stockholders on June 25, 2026. The CEO's letter highlighted fiscal 2026 revenue of approximately $8.2 billion, a 40% year-over-year growth, and $2.2 billion returned to stockholders. The company emphasized its decade-long transformation into a leading data infrastructure semiconductor solutions provider, driven by strong demand in data center, cloud, and AI markets. The meeting agenda includes the election of eight directors, an advisory vote on executive compensation, and auditor ratification.
Key Highlights
- Fiscal 2026 revenue was approximately $8.2 billion, growing over 40% YoY.
- Returned approximately $2.2 billion to stockholders through repurchases and dividends.
- Data center revenue exceeded $6 billion in fiscal 2026, a 45% CAGR over 10 years.
- Non-GAAP operating profit reached approximately $2.9 billion; non-GAAP EPS was $2.84.
- Completed over $24 billion in acquisitions and nearly $4.5 billion in divestitures over a decade.
- Annual Meeting of Stockholders scheduled for June 25, 2026.
- Board nominated eight directors for election; one director is retiring.
- 97% of global electricity usage from renewable sources in fiscal 2026.