Rambus Terminates CEO Ron Black

(RTTNews) - Rambus Inc. (RMBS) announced that it terminated Ron Black as Chief Executive Officer, effective immediately.

The termination follows an incident unrelated to the Company's financial and business performance in which the Board determined Dr. Black's conduct fell short of the Company's standards. Dr. Black has also resigned from his position on the Rambus Board of Directors.

The Board has appointed Luc Seraphin, Senior Vice President & General Manager, Memory and Interfaces Division, as interim CEO of the Company while the Board commences a formal search to identify a new CEO.

In addition, director Chuck Kissner has been appointed Vice Chairman of the Board. Mr. Kissner has served as a director on the Rambus Board since 2012. In his newly expanded role as Vice Chairman, Mr. Kissner will provide direct support to Mr. Seraphin and the Company's senior management team during the interim period to ensure a smooth and effective transition.