PLANO, Texas -- Amid a financial review due to a shortfall in sales, Microtune Inc. late Friday (June 27) announced that Douglas J. Bartek has resigned his positions as chairman, CEO and president.
The vacated board seat will remain empty at this time. Bartek and the board reached an agreement as to his severance terms.
The supplier of radio-frequency (RF) devices anticipates that it will announce a new chairman, president and CEO in the near future. In the interim, the board will establish an office of the president that will be filled by James H. Clardy, a director and chairman of the company's audit committee, Harvey B. Cash, a director and chairman of the compensation committee, and Albert H. Taddiken, its chief technical officer.
The company continues to anticipate that it will file its 2002 annual report on Form 10-K and its quarterly report on Form 10-Q for the quarter, ended March 31, 2003 by the end of July.
The company's internal investigation being conducted under the direction of the board's audit committee is expected to be completed on or about the same date.
