August 2010

Lattice Interim CEO Chris Fanning: "Our Goal is to Accelerate Growth"

On August 6, the Lattice Board of Directors appointed Christopher M. Fanning interim Chief Executive Officer, effective September 4, 2010. Previous CEO Bruno Guilmart has resigned and will relocate to Singapore to be CEO of Kulicke & Soffa, which makes equipment for manufacturing semiconductors and LEDs. Lattice intends to undertake a formal search for a new CEO.

Patrick S. Jones, Chairman of the Board of Directors, said, "Bruno has been instrumental in Lattice's return to profitability and we wish him well in his future endeavors. The Board is confident moving forward under the leadership of Chris Fanning, a proven Lattice executive respected by his peers and our customers, and one of the key executives driving our successful turnaround. We remain focused and in a strong competitive position given the Company's world-class organization, momentum with customers, targeted product families, and product roadmap."

In July, Lattice reported its third-straight quarterly profit, and its sales were up 64 percent from a year earlier. Fanning said the company would continue its current strategies and try to execute them faster. “Bruno’s departure is a catalyst to get the leadership team thinking even faster and harder," he said. Fanning added that the company's goal would be to accelerate growth in its core markets. "We're very profitable, so we're not looking to cut out costs," he said. "We're looking at how to apply our existing resources more effectively."

Christopher Fanning joined Lattice in 1997 and was promoted to Corporate Vice President and General Manager, Low Density & Mixed Signal Solutions in 2008. Previously, he managed Lattice's software, intellectual property, and technical support businesses as Corporate Vice President, Enterprise Solutions. He has also served as Vice President of Strategic Planning where he focused on Sales, Marketing, and M&A related matters. He holds an AB and MS in Computer Science from Boston College and Worcester Polytechnic Institute, respectively, and an MBA from The University of Chicago's Graduate School of Business. Prior to joining Lattice, Mr. Fanning was employed at The Boston Consulting Group, a leading international management consulting firm.