At Bermuda-incorporated semiconductor firm Marvell Technology (NASDAQ:MRVL), the family that designs and markets computer chips together, stays together.
On Monday, Marvell announced that its board of directors has appointed company co-founder Weili Dai to the position of president, calling her "a driving force for the company's success." Company CEO Dr. Sehat Sutardja praised her "long-term vision, integrity, strong principles, unrelenting drive, customer focus, and passion for Marvell" and called her "one of the most successful women entrepreneurs in the world today."
Kind words are to be expected in this instance. As Marvell reminds investors in a related SEC filing, Dai is Sutardja's wife, and the sister-in-law of Dr. Pantas Sutardja, the Company's vice president, chief technology officer, and chief research and development officer.
No details on Dai's compensation plan have yet been filed with the SEC.