SUNNYVALE, Calif. (AP) -- Memory-chip designer Rambus Inc. on Monday said its board has appointed Ronald Black as its CEO, replacing Harold Hughes, who announced his retirement earlier this year.
Black, 47, was the CEO of French phone designer Sagem Mobile. He left early last year, when it filed for bankruptcy. Before that, he was the CEO of UPEK, maker of fingerprint scanners. He left when it merged with AuthenTec Inc. in 2010.
Hughes, 66, announced early this year that he would retire.
Rambus was dealt a big setback last November, when a California jury denied it billions of dollars in damages in a 7-year-old antitrust case. Rambus alleged that chip-makers Micron Technology Inc. and Hynix Semiconductor Inc. conspired to fix prices of memory chips in order to hike the prices of products for which Rambus licenses the rights. Its stock price was cut in half.
Rambus shares fell 18 cents, or 3.2 percent, to $5.43 in Monday afternoon trading. The shares are still close to their 10-year low of $4, hit briefly after the November ruling.