UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 17, 2014

 

 

MARVELL TECHNOLOGY GROUP LTD.

(Exact name of registrant as specified in its charter)

 

 

 

Bermuda   0-30877   77-0481679

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

Canon’s Court

22 Victoria Street

Hamilton HM 12

Bermuda

(Address of principal executive offices)

(441) 296-6395

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(c)

On February 17, 2014, the Board of Directors of Marvell Technology Group Ltd. (the “Company”) appointed Michael Rashkin, age 68, as Chief Financial Officer of the Company. Mr. Rashkin had been serving as Interim Chief Financial Officer of the Company since December 9, 2013. Mr. Rashkin served as the Director of Taxes and Tax Counsel of the Company’s subsidiary, Marvell Semiconductor, Inc. (“MSI”), from 1999 until 2000 and Director of Taxes and General Tax Counsel of MSI from 2000 until 2005, when he became MSI’s Vice President and General Tax Counsel. In 2007, Mr. Rashkin was appointed Special Assistant to the CEO and Vice President of Strategic Development of MSI. From July 2007 to January 2008, Mr. Rashkin served as Interim Chief Financial Officer of the Company. From January 2008 to March 2011, Mr. Rashkin served as Vice President of Taxes and General Tax Counsel of MSI. From March 2011, Mr. Rashkin has served as President of the Marvell Charitable Fund.

Prior to joining MSI, Mr. Rashkin spent 13 years at Apple, where he served many executive roles, including, General Manager of Asia and Latin America, Director of Marketing for Apple Japan, Director of International Business Development, Director of Taxation, Customs, and Export Licensing, and Director of International Legal. He is the author of several books on taxation and has testified several times before the Senate Finance Committee on tax reform proposals to encourage innovation in the United States. Mr. Rashkin holds an LL.M. from the New York University Graduate School of Law, a J.D. from St. John’s University School of Law and a B.S. from Brooklyn College, City University of New York. Mr. Rashkin is a member of both the California and New York bars.

There are no arrangements or understandings between Mr. Rashkin and any other persons pursuant to which he was selected as Chief Financial Officer. There are also no family relationships between Mr. Rashkin and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. The Company has entered into its standard form indemnification agreement with Mr. Rashkin.

 

Item 7.01 Regulation FD Disclosure

On February 20, 2014, the Company issued a press release announcing the appointment described above. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

  (d) Exhibits.

 

  99.1 Press Release dated February 20, 2014

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: February 20, 2014

 

MARVELL TECHNOLOGY GROUP LTD.
By:  

/s/ Sehat Sutardja

  Sehat Sutardja
  Chief Executive Officer

 

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EXHIBIT INDEX

 

Exhibit
No.
   Description
99.1    Press Release dated February 20, 2014

 

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EX-99.1

Exhibit 99.1

 

  

LOGO

 

For further information, contact:   
Sukhi Nagesh    Holly Zheng
Investor Relations    Media Relations
408-222-8373    408-222-9202
[email protected]    [email protected]

Marvell Technology Names Michael Rashkin Chief Financial Officer

Santa Clara, Calif. (February 20, 2014) — Marvell Technology Group Ltd. (NASDAQ: MRVL), a global leader in integrated silicon solutions, today announced it has named Michael Rashkin Chief Financial Officer, effective February 17, 2014.

Mr. Rashkin served as the Interim Chief Financial Officer since December of 2013 and brings to Marvell more than 40 years of experience in finance, tax and operations in high technology industries. Mr. Rashkin has been with the Company since 1999 and prior to this appointment served in a variety of roles in the finance organization including as VP of Tax, VP of Strategic Development and President of the Marvell Charitable Fund. Mr. Rashkin also served as Interim Chief Financial Officer of Marvell from July 2007 to January 2008. Prior to joining Marvell, Mr. Rashkin spent 13 years at Apple, where he served many executive roles, including, General Manager of Asia and Latin America, Director of Marketing for Apple Japan, Director of International Business Development, Director of Taxation, Customs, and Export Licensing, and Director of International Legal. He is the author of several books on taxation and has testified several times before the Senate Finance Committee on tax reform proposals to encourage innovation in the United States.

“Mike has extensive financial management experience with a steady and dependable track record of improving operations,” said Sehat Sutardja, Marvell’s Chief Executive Officer. “He is a well-known and well-liked executive within Marvell and having already served as our interim CFO is the best choice for all our stakeholders including customers, employees and shareholders. I am confident that his past experience and proven leadership will help him guide Marvell to the next level.”


“I am very pleased to step up and serve as the chief financial officer of Marvell and help build a truly world class semiconductor company,” said Mr. Rashkin. “The world-wide employees of Marvell continue to strive for excellence in products and execution and as we enter this new era of mobility and Internet for the masses, I look forward to doing my part in helping the company continue its journey from start-up to industry leader. As one of the most innovative companies in the world, Marvell is poised to take advantage of the new market opportunities that are sure to arise, and I look forward to assisting Marvell’s leaders drive our technologies into these new markets.”

Mr. Rashkin holds an LL.M. from the New York University Graduate School of Law, a J.D. from St. John’s University School of Law and a B.S. from Brooklyn College, City University of New York. Mr. Rashkin is a member of both the California and New York bars.

About Marvell

Marvell is a global leader in providing complete silicon solutions enabling the Smart lifestyle. From mobile communications to storage, cloud infrastructure, digital entertainment and in-home content delivery, Marvell’s diverse product portfolio aligns complete platform designs with industry-leading performance, security, reliability and efficiency. At the core of powerful consumer, network and enterprise systems, Marvell empowers partners and their customers to always stand at the forefront of innovation, performance and mass appeal. By providing people around the world with mobility and ease of access to services adding value to their social, private and work lives, Marvell is committed to enhancing the human experience.

As used in this release, the term “Marvell” refers to Marvell Technology Group Ltd. and its subsidiaries. For more information please visit www.marvell.com.

Marvell® and the Marvell logo are registered trademarks of Marvell and/or its affiliates.

 

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