FPGA Giant Lattice CEO Moves to Coherent

Lattice Semiconductor, a leading FPGA chip manufacturer, has announced the sudden departure of its CEO Jim Anderson, who has jumped ship to join rival chipmaker Coherent. Following the news, Lattice's stock price fell nearly 11%, while Coherent's share prices rose.

According to an official statement released on June 3, Lattice Semiconductor unexpectedly announced the resignation of its CEO Anderson, who has served for six years, effective immediately. The statement cited Anderson's "pursuit of an opportunity at another company" as the reason for his departure. Chief Marketing and Strategy Officer Esam Elashmawi has been appointed as interim CEO, effective immediately. Anderson has decided to resign from his positions as President, CEO, and a member of the Board of Directors to pursue a role at another company.

Lattice's Board of Directors has stated that it has begun searching for a suitable candidate for the permanent CEO position, considering both internal and external candidates in the process.

Esam Elashmawi, who joined Lattice in 2018, brings over 30 years of FPGA technology and industry experience. He previously served as Senior Vice President and General Manager at Microsemi and Vice President of Product Development at Actel. Earlier in his career, he co-founded SiliconExpert Technologies, an electronic component management software company, which was later acquired by Arrow Electronics.

Lattice's Board Chairman Jeff Richardson commented, "Over the past six years, Esam has played a pivotal role in Lattice's transformation. We believe he and the management team will ensure a smooth transition for all our stakeholders, with a clear strategic focus and significant growth and value creation opportunities." Richardson also wished Jim Anderson well on behalf of the Board and thanked him for his leadership during Lattice's meaningful period of transformation and innovation.