Ambarella CFO Brian White to Retire at End of Fiscal Year 2024
18 Octobre 2023 - 2:00PM
Ambarella, Inc., an edge AI semiconductor company, today announced
that Brian White will retire from his role as Chief Financial
Officer at the conclusion of the current fiscal year ending January
31, 2024. John Young, Ambarella’s current Vice President of
Finance, has been elected to assume the role of Chief
Financial Officer effective at that time.
Mr. White’s career in finance and corporate management spans
over 35 years, including serving as Chief Financial Officer at
Maxim Integrated Products and Integrated Device Technology before
joining Ambarella in 2022. Earlier in his career, Mr. White held
increasingly expanding roles at companies, including Nvidia,
Hitachi GST, IBM and Deloitte.
“On behalf of the entire Ambarella team, I want to thank Brian
for his contributions to the company, including helping navigate
the challenging inventory correction faced by the semiconductor
industry, as well as continuing to strengthen our financial team
and helping position us for success as we continue our transition
into larger markets,” said Dr. Fermi Wang, president and CEO. “We
wish Brian the very best as he enters this next chapter.”
Mr. Young has served as Ambarella’s Vice President of Finance
since December 2019 and previously served as Corporate Controller
from March 2017 to December 2019. Mr. Young also served as the
company’s Principal Accounting Officer and Principal Financial
Officer from November 2021 until April 2022. Prior to joining
Ambarella, Mr. Young served in a variety of roles at Mellanox
Technologies from 2009 to 2016, including most recently as
Corporate Controller.
“John is well respected within our organization, including among
the executive team,” said Dr. Wang. “Not only does John have an
extensive finance background, he knows our company and business
intimately and brings a forward-thinking mindset coupled with a
passion for fostering a high-performance culture. We are confident
that John will continue to be a valuable contributor as we seek to
drive our transformation forward and grow shareholder value,”
continued Dr. Wang.
In addition to the anticipated management change, Ambarella also
announced it is reaffirming its previously provided guidance for
the third quarter of fiscal year 2024 of revenue of $50 million
plus or minus 4%, gross margin on a non-GAAP basis of 62% to 64%
and operating expenses on a non-GAAP basis of $46 million to $49
million. The company plans to report its financial results for the
third fiscal quarter, ending October 31, 2023, on November 30,
2023.
About Ambarella
Ambarella’s products are used in a wide variety of human vision
and edge AI applications, including video security, advanced driver
assistance systems (ADAS), electronic mirror, drive recorder,
driver/cabin monitoring, autonomous driving and robotics
applications. Ambarella’s low-power systems-on-chip (SoCs) offer
high-resolution video compression, advanced image and radar
processing, and powerful deep neural network processing to enable
intelligent perception, fusion and planning. For more information,
please visit www.ambarella.com.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements involve substantial risks and
uncertainties. All statements other than statements of historical
facts contained in this communication, including statements
regarding our plans, objectives and expectations, including
anticipated financial results for the third fiscal quarter ending
October 31, 2023, are forward-looking statements. These
forward-looking statements are based upon the current assumptions,
beliefs and expectations of our management and are subject to risks
and uncertainties that could cause actual results to differ
materially, including risks and uncertainties relating to the
performance of members of management and our ability to attract,
develop, motivate and retain highly qualified and skilled
employees; our ability to generate revenue from the sale of our
solutions; and other risks, uncertainties and other factors
described in the section titled “Risk Factors” included under Part
II, Item 1A of our Quarterly Report on Form 10-Q for the quarter
ended July 31, 2023 and in our other filings with the Securities
and Exchange Commission. The results, events and circumstances
reflected in the forward-looking statements may not be achieved or
occur, and actual results, events or circumstances could differ
materially from those described in the forward-looking statements.
The forward-looking statements made in this communication relate
only to events as of the date on which the statements are made. We
undertake no obligation to update any forward-looking statements
made in this communication to reflect events or circumstances after
the date of this communication or to reflect new information or the
occurrence of unanticipated events, except as required by law.
Contact:Louis Gerhardycell
415-305-5818lgerhardy@ambarella.com
Ambarella (NASDAQ:AMBA)
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