March 22, 2007 – Shu Li, president and CEO of Jazz Semiconductor, has left to “pursue other opportunities,” and parent company chairman/CEO Gil Amelio (former Apple exec) will assume his duties “for the foreseeable future,” according to the company.

Li had been the top Jazz exec and board member since the company’s launch in March 2002. He previously directed Conexant’s fabless initiatives and led efforts to transition its captive wafer fab business to a specialty foundry operation. Before that he held several positions at AlliedSignal/Honeywell overseeing semiconductor packaging and logistics operations, with earlier operations managerial experience at Motorola and Intel.

In a separate announcement, Jazz said it would hold a conference call on April 2. to provide initial observations on the status of the business and preliminary estimates regarding near-term performance outlook. “We realize that our investors have had limited insight into the business and markets served by the company following the completion of our merger with Jazz Semiconductor,” stated Paul Pittman, company CFO.