Tessera Technologies, Inc. (TSRA) announced the appointment of Richard Hill as interim chief executive officer or CEO and executive chairman of the Board of Directors, effective immediately.
The company said that Hill replaces former president and CEO Robert Young, PhD, who has decided to step down in the best interest of the company.
Tessera stated that as previously announced on March 25, 2013, the company has commenced a search for a new CEO. Upon the successful completion of the CEO search, Hill will return to his former role of non-executive Chairman.
Commenting on Richard Hill, the company said he served as the chief executive officer of Novellus Systems, Inc. from 1993, and chairman from 1996, until its acquisition for more than $3 billion by Lam Research Corporation in June 2012.
Before joining Novellus Systems in 1993, Hill spent 12 years with Tektronix, Inc., including as president of the Tektronix Development Company, vice president of the Test & Measurement Group, and president of Tektronix Components Corporation.
He also held engineering-and management positions at General Electric, Motorola, and Hughes Aircraft Company, Tessera noted.
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