Synaptics CEO steps down, Q3 revenue guidance updated
Synaptics announced on Friday an executive leadership transition and the departure of CEO Richard Bergman, effective immediately.
The company has commenced an executive search process for a successor and the Board has formed an executive leadership committee to assist with the transition. Nelson Chan, a director since 2007 and non-executive chairman since October 2018, has been appointed executive chairman of the board and will provide direct support to Synaptics’ executive leadership committee to ensure a smooth and effective transition.
“We are focused on capturing numerous opportunities before us and evolving the company under new leadership to increase shareholder value,” explained Chan. “We thank Rick for his contributions to Synaptics.”
The announcement notes that Mr. Bergman’s departure was not a result of any disagreement with Synaptics on any matter relating to Synaptics’ operations, policies, or practices.
The company also updated its third fiscal quarter guidance and, due to demand softness in China, now expects revenue and non-GAAP EPS to be around the lower end of the original guidance range of $340 million to $380 million and $0.70 to $1.00, respectively.