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Cirrus Logic Moves Corporate Headquarters to Austin, Texas; Robert W. Fay Named Vice President/CFO.

Business Editors/High-Tech Writers

AUSTIN, Texas--(BUSINESS WIRE)--April 26, 2000

Cirrus Logic Inc. (Nasdaq:CRUS) today announced that the company's headquarters have moved from Fremont, California to Austin, Texas. Cirrus Logic becomes the largest semiconductor company to be headquartered in Austin, and the city's third largest semiconductor employer. The company also announced that Robert W. Fay, 53, vice president of finance, has been promoted to vice president/chief financial officer, treasurer, and corporate secretary. Fay replaces Glenn C. Jones, who moves to an advisory role to handle special projects.

"Over the past year, we have strengthened our balance sheet, restructured our foundry relations, and focused our resources on our core businesses to become the leader in entertainment electronics for the Internet Age," said David French, president and chief executive officer of Cirrus Logic. "Bob Fay, who joined us late last year, will continue to drive the financial disciplines and strategies that support our new fabless model."

Prior to joining Cirrus Logic in November to direct all accounting, planning, treasury, and risk management functions, Fay spent 22 years with Harris Corporation in Melbourne, Florida, where he served in a number of key financial management positions, including vice president and corporate controller for the company's $4 billion business. Fay holds a Bachelor of Arts degree in Mathematics from Duke University, a Bachelor of Science in Business Administration and Accounting from Villanova University, and a Master's degree in Business Administration from Drexel University.

Commenting on the relocation of headquarters, French said: "Cirrus Logic has a great heritage in Silicon Valley, and we expect continued innovation and strong market presence from our Magnetic and Optical Storage divisions remaining there. We expect our headquarters move to result in greater operating efficiencies as virtually all of our corporate functions and about two-thirds of our worldwide workforce are now located in Austin."

With the corporate communications function moving to Austin, Stan Victor has been named the company's new director of corporate communications. He replaces Tom Rigoli, who moves from vice president of corporate communications to an advisory role to handle special projects.

Cirrus Logic

Cirrus Logic is a premier supplier of high-performance analog and DSP chip solutions for Internet entertainment electronics. Building on its global market share leadership in audio integrated circuits and its rich mixed-signal patent portfolio, the company targets high-volume audio, storage and communications applications. Cirrus Logic sells its products under the Crystal (R), Maverick(TM) and 3Ci(TM) brands as well as its own name. Founded in 1984 in Silicon Valley, Cirrus Logic operates from headquarters in Austin, Texas and major sites located in Fremont, California and Broomfield, Colorado, as well as offices in Europe, Japan and Asia. More information about Cirrus Logic is available at www.cirrus.com.
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Publication:Business Wire
Date:Apr 26, 2000
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