Transmeta (Semiconductor) (TMTA)

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Transmeta Corporation Announces CFO Transition Plan
Business Wire - May 09, 2006 16:06

SANTA CLARA, Calif., May 09, 2006 (BUSINESS WIRE) -- Transmeta Corporation (NASDAQ:TMTA), the leader in efficient computing technologies, today announced that Mark R. Kent, the Company's chief financial officer, plans to resign following the filing of the Company's Form 10-Q for the first quarter ended March 31, 2006. Transmeta has initiated a search for a new CFO and is defining its transition plan. Kent will be available to the Company on a consulting basis for a three month interim period while a CFO search is conducted.

"Mark has made significant contributions to our corporate transformation, including helping us to refine our strategy, enhance our liquidity position, build the finance team and infrastructure, and drive our efforts to become fully compliant with the requirements of the Sarbanes-Oxley Act," commented Arthur L. Swift, president and CEO. "I want to thank Mark, and I wish him success in his future endeavors."

"I have enjoyed working with Art, the Board and my colleagues at Transmeta," commented Mark R. Kent, chief financial officer. "When I came to Transmeta over a year and half ago, my goal was to help the executive team and the Board to get the Company onto a more sustainable strategic path, and I now feel that we have accomplished this goal."