June 12, 2007 – Jazz Technologies Inc. says that its president, Ellen Hancock, has resigned “to devote time to other business obligations,” having seen the company through its startup in 2005 as Acquicor Technology, a 2006 IPO, and merger earlier this year with Jazz Semiconductor. The company says she will not be replaced, with her duties divided between CEO Gil Amelio and CFO Paul Pittman.
In a statement, Jazz noted that Hancock currently sits on three corporate boards, is trustee at three institutes and schools, and director of the Pacific Council of International Policy, and eventually decided she couldn’t also pursue a full-time role as Jazz’s president.
Since co-founding the company two years ago, Ellen has been a driving force behind the development and implementation of the company’s strategy, helping us to evolve into a public company and playing a critical role in our merger with Jazz Semiconductor. We wish Ellen the best,” said Amelio, in the statement.
“I am pleased to have achieved the goal we set when we formed Acquicor as a blank check company, which was to find a viable business to acquire that showed great promise and potential for success,” Hancock stated, referring to the merger with Jazz Semiconductor.