Touchscreen maker Synaptics has rushed to tell the world plus dog that its chief executive Thomas Tiernan resigned for “personal reasons”.
Tiernan has been the Chief Executive Officer of the outfit since July 2009 and the president and a director of our company since July 2008. The touchscreens are appearing in many of the leading smartphones.
His resignation appears to have caught everyone on the hop and as yet no one has revealed what the “personal reasons” were.
In a bid to calm nervous investors, Synaptics revealed that it is going to report an increase of more than 80 percent in its fiscal first-quarter profit. It said it expects to report a quarterly profit of $18 million to $19 million.
Synaptics said it expects revenue to increase 28 percent to $153 million, helped by record sales from mobile applications. It said it shipped the largest number of mobile phone designs in its history to leading handset manufacturers globally.
It named long-time executive Russell Knittel to replace Tierman until a successor can be found.