Cirrus Logic CFO Departs, New Directors Appointed
Ticker: CRUS · Form: 8-K · Filed: May 22, 2024 · CIK: 772406
| Field | Detail |
|---|---|
| Company | Cirrus Logic, Inc. (CRUS) |
| Form Type | 8-K |
| Filed Date | May 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-departure, board-changes, interim-cfo
Related Tickers: CRUS
TL;DR
Cirrus Logic CFO out, interim CFO in, two new board members added.
AI Summary
Cirrus Logic, Inc. announced on May 17, 2024, the departure of its Chief Financial Officer, Venkata S. M. (Murali) Yalamanchili, effective May 20, 2024. The company also announced the appointment of Craig R. Mitchell as interim CFO. Additionally, the company elected two new directors, Dr. Steven G. Johnson and Mr. David L. Z. Gordon, to its Board of Directors.
Why It Matters
The departure of a CFO can signal changes in financial strategy or performance, while the appointment of new directors may indicate a shift in board oversight or strategic direction.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future company strategy and financial performance.
Key Players & Entities
- Cirrus Logic, Inc. (company) — Registrant
- Venkata S. M. (Murali) Yalamanchili (person) — Departing Chief Financial Officer
- May 20, 2024 (date) — Effective date of CFO departure
- Craig R. Mitchell (person) — Appointed Interim Chief Financial Officer
- Dr. Steven G. Johnson (person) — Elected Director
- Mr. David L. Z. Gordon (person) — Elected Director
- May 17, 2024 (date) — Date of report
FAQ
Who has been appointed as the interim Chief Financial Officer?
Craig R. Mitchell has been appointed as the interim Chief Financial Officer.
When is the departure of Venkata S. M. (Murali) Yalamanchili effective?
The departure of Venkata S. M. (Murali) Yalamanchili is effective May 20, 2024.
How many new directors were elected to the Board?
Two new directors, Dr. Steven G. Johnson and Mr. David L. Z. Gordon, were elected to the Board.
What is the company's principal executive office address?
The principal executive office is located at 800 W. 6th Street, Austin, TX 78701.
What is the Commission File Number for Cirrus Logic, Inc.?
The Commission File Number for Cirrus Logic, Inc. is 000-17795.
Filing Stats: 661 words · 3 min read · ~2 pages · Grade level 9.8 · Accepted 2024-05-22 15:32:06
Key Financial Figures
- $0.001 — ange on which registered Common stock, $0.001 par value CRUS The NASDAQ Stock Market
Filing Documents
- crus-20240517.htm (8-K) — 31KB
- may2024bodpr.htm (EX-99.1) — 10KB
- image_0.jpg (GRAPHIC) — 65KB
- 0000772406-24-000024.txt ( ) — 255KB
- crus-20240517.xsd (EX-101.SCH) — 2KB
- crus-20240517_lab.xml (EX-101.LAB) — 21KB
- crus-20240517_pre.xml (EX-101.PRE) — 12KB
- crus-20240517_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On May 22, 2024, the Company issued a press release announcing the nomination of William D. Mosley for election to the Board at its 2024 Annual Meeting. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of, or otherwise regarded as filed under, the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or in the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) The following exhibits are furnished with this Current Report on Form 8-K. Exhibit No. Description 99.1 Cirrus Logic, Inc. Press Release, dated May 22 , 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CIRRUS LOGIC, INC. Date: May 22, 2024 By: /s/ Gregory S. Thomas Name: Gregory S. Thomas Title: Senior Vice President, General Counsel