Wednesday, March 22, 2006

Pinto gallops off the board of Rambus

Rambus announced today (3/22/06) that Dr. Mark R. Pinto resigned from its board of directors. Dr. Pinto was appointed to the board on March 6, 2006, to fill David Mooring's vacated seat and was to stand for election of a two-year term at the stockholders meeting to be held in May 2006.

"We are sorry to lose Mark as he is a superb person, with extraordinary skill, experience and integrity," said Geoff Tate, chairman of the Rambus board of directors. "We understand corporate conflicts have arisen for Mark at his company that were not foreseeable at the time of his appointment. While we regret his decision to withdraw from the board, we nevertheless defer to his judgment as to the need to do so."
Dr. Pinto was given options for 40,000 shares at $31.36 on March 10, 2006. The first 5,000 to fully vest on September 10, 2006. Rambus closed today at $36.78.

Hat tip to FinzToRite of the Pinehurst Thread for the link and headline.

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