If link below does not work or you can not copy and paste do a compare of LSI to Nasdaq, SP500, and Dow since Ahbi took over in May of 2005. For yahoo charts ICIX = NASDAQ which you know is tech heavy and best compare (hint LSI sucks).
LSI is on par with SP500 and DOW performance.
Conclucison: At best ceo has added no value added under his reign! How long will shareholders tolerate this?
The chart hides both the magnitude of AT's failure, as well as his relative successes. When AT took over LSI, it was worth about 3.5 billion, with about a third of their revenue generated equally by storage components, storage systems, and consumer electronics. Then shortly after he takes over he engineers the Agere takeover for 3 billion to add networking to the fold. So he had a 6.5 billion dollar company with 60% of revenue equally from storage components, consumer semis, and storage systems, and 40% in networking. Today, LSI is a 4 billion company, with 85% of revenue from storage components and 15% of revenue from networking. As c. alludes to, the Agere purchase was a disaster from every possible viewpoint. Might as well have taken out a 3 billion cash loan and used the cash as bonfire fodder.
That said, AT has grown the storage component biz. to such an extent as to make up for any revenue lost from the consumer and systems divisions he axed and sold off. Storage components are less sensitive to market pressures and in many of the areas LSI operates, it is as part of an effective duopoly (with Marvell, PMC-Sierra, Micron, Fusion-IO). While I'm no AT fan, I think this part of the biz is solid.
So if you ax AT now, you're axing the guy who has proven effective at leading the 85% of the biz that's pretty solid. Who would you bring in?? Someone who is big in the 4G hotspot biz? Networking probably deserves the same treatment consumer semis got. Just take it out back and shoot it. But if you did that, you're left with a company devoted to the one sector that AT and LSI have proved competent in.