There are a lot of rumors that Richard Leza is being fired as the Chairman of the Board at Exar. Future Electronics (largest shareholder) has had it with him and he is bing forced out. Not sure what this means to the stock but the current CEO seems to have a plan to re-stack the BOD. Pretty common practice with a new CEO. This could provide a good buying opportunity.
“Why should anyone care what Leza thinks if DiNardo is incharge?”
The chairman along with the BOD can remove a CEO. They have done it before and I suppose they will keep doing it. The CEO has an employment contract which provides compensation in the event of early termination so that could be expensive.
However, the chairman is elected by the shareholders. In that, I agree that a major shareholder could have something to say about it, especially during a regular shareholder election. Perhaps they could call a special election, or persuade him to resign.
the CEO Lou DiNardo worked for Peter Feld of Starboard Value Vulture Fund at Xicor. Starboard Vulture is pulling the strings here. Future E. and Soros would have no problem with a BOD stacked with Starboard candidates. They think Starboard can make them money. Richard Leza’s going is evidence that a Xicor Exit Scenario is in play.
There may be money in this but I believe in growing companies for profit. I despise people and entities that use companies as pawns to manipulate the market for profit.
applefan333; you are terribly misinformed...simply read a few pertinent documents if you have the energy or your money is better placed at the craps table. Starboard did not exist at the time of Xicor and Peter Field has never been a director at either company.