As I begin the final stage of transitioning into my new role as CEO, I wanted to reflect on the past 4 years, and look a bit to the future. I am especially grateful to be part of what I think is the “gold standard” in leadership transition plans. Lots of companies talk about having one; QuickLogic is one of the very few companies that actually executes on it. Four years ago, Tom Hart and I discussed the framework of such a plan that started with my assuming the role of VP of Worldwide Sales, helping the company through the difficult transition to the entirely different business model of CSSPs. Two and half years later, we took the next step when I took over the duties of President, expanding my scope of influence into other areas of the company, specifically operations and engineering. Now, after more than one and half years in that role, we – Tom, the Board, our Executive Leadership Team and I — feel that it is time for the final stage of that transition plan.
Starting on January 3, with Tom moving to the role of Executive Chairman, I am confident that the two of us will continue to work exceptionally well together. While Tom and I come from very similar backgrounds (both ex-Navy, both long time semiconductors veterans) we have not always agreed on everything—who does? However, we have always been able to quickly resolve the rare disagreement with the best interests of QuickLogic, our stockholders, and our employees in mind. Tom has been a great boss, coach, mentor and friend and I look forward to working closely with him in the future.
Finally, I am exceptionally humbled and grateful for this opportunity. I am very excited about our future here at QuickLogic–Wall Street has heard the message of CSSPs loud and clear (check our 1 year stock performance—not too bad!), and our continued impressive earnings reports back that up. Here’s to 2011 and beyond!