February 10, 2016 – Redwood City, CA-headquartered executive search firm Lonergan Partners has recruited Martin McDermut as chief financial officer for Applied Micro Circuits Corporation (AppliedMicro). The search was led by CEO Mark Lonergan and consultant Alex Zakupowsky.
“Marty McDermut is one of the most statured chief financial officers in the public company semiconductor market,” said Mr. Lonergan. “He will add a great deal to the strategy and the operational execution capabilities of AppliedMicro going forward.”
Mr. McDermut was most recently senior vice president of finance and CFO of Vitesse Semiconductor Corporation from 2011 to 2015, when the company was acquired by Microsemi Corporation. Prior to Vitesse, he served as CFO for publicly traded companies, including Iris International Inc. and Superconductor Technologies. He was also a partner at the public accounting firm of Coopers & Lybrand (now PricewaterhouseCoopers LLP), where he was practice leader of the firm’s Los Angeles entrepreneurial advisory services group.
“Marty is a seasoned executive with over 30 years of financial leadership experience, a wealth of strategic and operational expertise, and deep knowledge of the semiconductor industry,” said Dr. Paramesh Gopi, president and CEO of AppliedMicro. “We are thrilled to have him join our executive team.”
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AppliedMicro is a global leader in silicon solutions for next generation cloud infrastructure and data centers, as well as connectivity products for edge, metro, and long-haul communications equipment. The company’s corporate headquarters are located in Santa Clara.
Lonergan Partners focuses on the recruitment of CEOs and C-level executives for technology companies. The firm has recently recruited CFO positions for Viavi Solutions, Inc., MetricStream, and Energous Corporation.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media