Marvell Appoints Interim CFO

July 17, 2007
Marvell Technology has appointed its second interim CFO since May, when George Hervey resigned amid a stock-options backdating scandal.

Marvell Technology has appointed its second interim CFO since May, when George Hervey resigned amid a stock-options backdating scandal. Michael Rashkin, vice president and general tax counsel for subsidiary Marvell Semiconductor, will take over the position. "Mike already is a significant contributor to the Company and has built a strong tax organization," Sehat Sutardja, Marvell CEO, said in a statement. "He will immediately step in and help guide the company through a critical time as we continue to build a solid platform for growth." Treasurer Michael Tate assumed the position after Hervey's departure but resigned last week. Though details about his resignation were not available,he left after the company completed its process of filing delayed SEC reports. Marvell had to pay approximately $328 million after restating financial reports to account for stock option backdating between 2000 and 2006.

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