MagnaChip (MX) Chairman Resigns

September 9, 2016 4:35 PM EDT

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MagnaChip (NYSE: MX) disclosed in an SEC filing:

On September 8, 2016, Michael Elkins resigned from his position as Chairman of the Board of Directors of MagnaChip Semiconductor Corporation (the “Company”), effective immediately. Mr. Elkins served on the Company’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee. Mr. Elkins resigned because he will be unable to continue as a director of the Company due to a new professional opportunity. His decision to resign from the Company’s Board of Directors was not the result of any disagreement with the Company or its executive officers, or any matter relating to the Company’s operations, policies or practices.

On September 8, 2016, the Board of Directors of the Company appointed Melvin Keating as a member of the Audit Committee and appointed Camillo Martino as a member of the Compensation Committee.

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