Atmel Corp. (ATML) said Tuesday that Stephen Cumming has decided to resign as Vice President of Finance and Chief Financial Officer of the company.
The company also said it has appointed Steve Skaggs, who currently serves as Atmel's Senior Vice President of Corporate Strategy & Development, as interim Chief Financial Officer, effective immediately.
Atmel noted that Cumming's separation is not related to any disputes with the company or any issues regarding the integrity of the company's financial statements or accounting policies and practices.
The company plans to retain a leading executive search firm to assist in the search for a permanent CFO.
Atmel also raised the lower end of its previously announced guidance range for first quarter revenues to $318 million to $328 million from the prior range of $311 million to $328 million. Analysts polled by Thomson Reuters currently expect the company to report revenue of $320.69 million for the first quarter.
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