SemiLEDs (LEDS) CFO Young Resigns
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On January 2, 2013, David Young resigned as the Chief Financial Officer of SemiLEDs Corporation (Nasdaq: LEDS).
On January 4, 2013, the Board of Directors of the Company appointed Timothy Lin to serve as Chief Financial Officer on an interim basis while it conducts a search for a permanent Chief Financial Officer. Mr. Lin, 36, has served as the Company’s Deputy Controller since joining the Company in October 2010. Prior to joining the Company, Mr. Lin was a Senior Manager at Ernst & Young (Taiwan) from October 2009 to October 2010 and a Manager at Deloitte & Touche (Taiwan) from June 2006 to October 2009.
Mr. Lin’s monthly base salary is 200,000 New Taiwan dollars (approximately $6,900). Mr. Lin is also eligible for a year-end bonus equivalent to two months of Mr. Lin’s then average base salary, subject to the achievement of performance targets as determined by the Company’s Chief Executive Officer.
There is no family relationship between Mr. Lin and any officer or director and, other than his compensation as an employee, no transaction that would require reporting pursuant to Item 404 of Regulation S-K.
Mr. Young has agreed to provide transition assistance to the Company for a period of time.
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On January 4, 2013, the Board of Directors of the Company appointed Timothy Lin to serve as Chief Financial Officer on an interim basis while it conducts a search for a permanent Chief Financial Officer. Mr. Lin, 36, has served as the Company’s Deputy Controller since joining the Company in October 2010. Prior to joining the Company, Mr. Lin was a Senior Manager at Ernst & Young (Taiwan) from October 2009 to October 2010 and a Manager at Deloitte & Touche (Taiwan) from June 2006 to October 2009.
Mr. Lin’s monthly base salary is 200,000 New Taiwan dollars (approximately $6,900). Mr. Lin is also eligible for a year-end bonus equivalent to two months of Mr. Lin’s then average base salary, subject to the achievement of performance targets as determined by the Company’s Chief Executive Officer.
There is no family relationship between Mr. Lin and any officer or director and, other than his compensation as an employee, no transaction that would require reporting pursuant to Item 404 of Regulation S-K.
Mr. Young has agreed to provide transition assistance to the Company for a period of time.
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