Lattice Semiconductor Corp. (Hillsboro, OR) announced the appointment of Stephen Skaggs as CEO and Patrick Jones as Chairman of the Board and the termination of incumbent CEO and Chairman Cyrus Tsui and incumbent Vice President of Finance Rodney Sloss. Tsui and Sloss came under investigation last June when the company's audit committee grew suspicious of executive compensation and several related items pertaining to the company's internal controls.
Lattice maintains that it is not aware of any required adjustments to its historical financial results in connection with the independent investigation by its audit committee. Meanwhile, the company has furnished information regarding the investigation to the Securities and Exchange Commission, which is conducting an ongoing informal inquiry into the Lattice's prior restatement of financial results.
