SEOUL,
South Korea, Sept. 6,
2023 /PRNewswire/ -- Magnachip Semiconductor
Corporation (NYSE: MX) ("Magnachip" or the "Company") received a
letter of resignation, dated September 5,
2023, from Mr. Mel Keating, a
member of the board of directors of the Company (the "Board"),
whose resignation was accepted by the Board and effective as of
September 5, 2023.
Now that the Company has announced its plan to separate its
Display and Power operations into two distinct legal entities, Mr.
Keating has decided that, after over 7 years of service as a member
of the Board, during which time he led the Audit Committee and the
Strategic Review Committee, and given other important and time
consuming business obligations, it was the right time to conclude
his service to the company.
Mr. Keating's resignation is not due to any disagreement with
the company over any of its financial reporting, operations,
policies or practices.
About Magnachip Semiconductor
Magnachip is a designer
and manufacturer of analog and mixed-signal semiconductor platform
solutions for communications, IoT, consumer, computing, industrial
and automotive applications. The Company provides a broad range of
standard products to customers worldwide. Magnachip, with more than
40 years of operating history, owns a portfolio of approximately
1,100 registered patents and pending applications, and has
extensive engineering, design, and manufacturing process expertise.
For more information, please visit www.magnachip.com. Information
on or accessible through Magnachip's website is not a part of, and
is not incorporated into, this release.
CONTACT:
Yujia Zhai
The Blueshirt Group
Tel. (860) 214-0809
Yujia@blueshirtgroup.com
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SOURCE Magnachip Semiconductor Corporation