Cyrix CEO resigns
Jerry Rogers is stepping down as the CEO of Cyrix as the chip maker tries to recover from heavy losses and weak revenue growth.
CEO Jerry Rogers is stepping down as the chip maker tries to recover from heavy losses and weak revenue growth. Rogers will remain on the board.
"Jerry has done a great job guiding Cyrix through its recent difficult time," Chairman Berry Cash said in a statement. "We are coming out of these difficulties with a strong product offering that has attracted healthy customer interest. Jerry will continue to provide continuity as a board member."
Until the company finds another CEO, an interim president's office will be established. Jay Swent, senior vice president of finance and administration, will chair the management committee, which will also consist of Kevin McDonough, senior vice president of engineering, Nancy Dechaud, vice president of manufacturing, and board members.
Cyrix posted a net loss of $6.9 million in the quarter ending September 30, compared with profits of $6 million a year earlier. Meanwhile, its revenues fell 38 percent to $33.1 million for the quarter.
The company's financial performance has been hit by fierce competition in the microprocessor market that has led to substantial price cuts.