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Mellanox names longtime board member as chairman

SUNNYVALE, Calif. (AP) -- Mellanox Technologies Ltd. on Tuesday named Irwin Federman as nonexecutive chairman of its board.

The semiconductor company, which is based in both California and Israel, said Federman has served as a member of its board since the company's inception in 1999 and currently serves as its lead director.

Federman has served as a general partner of the investment firm U.S. Venture Partners since 1990.

From 1988 to 1990, he was a managing director of the investment banking firm Dillon Read & Co. and a general partner in its venture capital affiliate, Concord Partners.

Mellanox shares rose 17 cents to $49.89 in morning trading.