Marvell names Adobe's Dan Durn as finance chief amid growing AI demand

June 11 (Reuters) - Marvell ‌Technology on ​Thursday ​named Adobe's Dan Durn as chief financial officer, succeeding Willem Meintjes, who ‌is stepping down after more than three ⁠years in the role.

Durn will take charge at ‌Marvell starting June 15, ‌while Meintjes will remain with the semiconductor company in an advisory role through April ​2027 to support the transition.

The appointment comes as Marvell looks to benefit from a ⁠surge in spending on AI-related data center infrastructure, which has ​boosted demand for advanced networking and custom chip technologies.

Durn has previously held senior ​finance roles at Applied ‌Materials, NXP Semiconductors, Freescale Semiconductor and GlobalFoundries.

Marvell CEO Matt Murphy said ⁠Durn's experience across the semiconductor industry would help the company capitalize on growing demand for AI ⁠infrastructure. Durn has resigned from Marvell's board effective June ​10.

Last month, Marvell forecast its custom chip business would surpass $10 billion in revenue in fiscal 2029 after raising ‌its 2028 revenue outlook to about $16.5 billion.

Shares of the company, which reaffirmed ‌its financial outlook for the second quarter ⁠of fiscal 2027, were ‌down about 2% ​in extended trading.

(Reporting by Harshita Mary Varghese in Bengaluru; Editing by Arun ‌Koyyur)

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