Xilinx CFO Olson To Retire; Flores Named Successor - Quick Facts

(RTTNews) - Xilinx, Inc. (XLNX) said that Jon Olson plans to retire from his full-time role as Chief Financial Officer in May this year, soon after the company's FY2016 financial closing process.

At that time, Lorenzo Flores, Corporate Vice President of Finance and Corporate Controller for Xilinx, will be appointed Senior Vice President and Chief Financial Officer. Jon will continue to support the transition through July in an advisory role.

Xilinx noted that Olson will retire after serving as CFO for over 11 years with the company, where he has successfully driven improved gross margins, corporate profitability, increased return of cash to shareholders, and globalization of a very strong finance team. Olson was voted CFO of the year by the Silicon Valley Business Journal in 2010.

Upon retirement as a full-time CFO, Olson plans to leverage his experience in part-time business activities and spend more time with his family.

Flores joined Xilinx as Vice President of Finance and Corporate Controller in 2008. Prior to joining Xilinx, he spent 10 years at Intel, served as CFO of a venture funded start up, and was assistant Vice President of Financial Planning and Analysis at Cognizant Technology Solutions.