Vitesse firings.Vitesse Firings: Vitesse Semiconductor Corp. fired three top executives after a suspension in April concerning stock options that were awarded inappropriately. Louis R. Tomasetta, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Yatin Mody, CFO See Chief Financial Officer. and Eugene F. Hovanec EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition have all been terminated as a result. Christopher R. Gardner has been named to take on the role of CEO and Shawn C.A. Hassel the role of CFO. Both Gardner and Hassel were formerly CEO and CFO, respectively, of financial restructuring firm Alvarez & Marsal. The Camarillo-based semiconductor manufacturer, currently endangered en·dan·ger tr.v. en·dan·gered, en·dan·ger·ing, en·dan·gers 1. To expose to harm or danger; imperil. 2. To threaten with extinction. of being delisted on the Nasdaq, is continuing its internal investigation of its accounting practices. Vitesse has a tentative agreement with a lender concerning its credit facility, which has exceeded its borrowing levels. Vitesse has also hired an investment bank to obtain more financing. |
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