San Jose, CA. - 06 June 2003 - ParthusCeva, Inc. (Nasdaq: PCVA,
LSE: PCV) the leading provider of licensable Digital Signal Processor
(DSP) cores and platform-level IP to the semiconductor industry, today
announced the appointment of Chet Silvestri as chief executive officer.
Mr. Silvestri will assume his duties immediately and be based at
ParthusCeva's headquarters in San Jose, CA.
Eli Ayalon and Brian Long, Chairman and Vice-Chairman respectively
of ParthusCeva commented: "We are pleased to announce the appointment
of Chet Silvestri as CEO of ParthusCeva. Chet has tremendous experience in
the semiconductor intellectual property industry, and a track record in
driving business growth and shareholder value. The Board believes that the
appointment of Chet to this US-based executive position will help drive a
new stage of growth for ParthusCeva."
Chet Silvestri, CEO of ParthusCeva commented: "I am delighted to
be appointed CEO of ParthusCeva. I believe that the company is uniquely
positioned as the leading supplier of open-standard DSP solutions to the
semiconductor industry, a market I believe is poised to deliver strong and
sustained growth. I look forward to the challenge and opportunity of
driving this next stage of ParthusCeva's business activity and growing
Mr. Silvestri has over 25 years experience in the semiconductor
industry, beginning as a design engineer and progressing through
marketing, sales, R&D and executive management positions. Most
recently, Mr. Silvestri held the position of CEO of Arcot Systems, the
developer of the "Verified by Visa" credit card authentication software
product. Previously Mr. Silvestri held the position of chief operating
officer of Tripath Technology, Inc. and president of the Microelectronic
Division of SUN Microsystems, Inc., with responsibility for R&D,
Sales, Manufacturing and Marketing of SPARC microprocessors and chipsets.
Prior to his position at Sun Microsystems, Mr. Silvestri was vice
president and general manager of the Technology Licensing division of MIPS
Computer Systems, Inc., where he helped create the MIPS microprocessor
licensing program. Before joining MIPS in 1986 Mr. Silvestri held various
marketing management positions at Intel Corporation, both in the US and in
Europe. Mr. Silvestri holds BS and MS degrees in Electrical Engineering
from Michigan State University and an MBA from the Harvard Graduate School
About ParthusCeva, Inc.
Further information about ParthusCeva
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Safe Harbor Statement - ParthusCeva
This document contains "forward-looking statements", which
are subject to certain risks and uncertainties that could cause actual
results to differ materially from those stated. Any statements that are
not statements of historical fact (including, without limitation,
statements to the effect that the company or its management "believes,"
"expects," "anticipates," "plans" and similar expressions) should be
considered forward-looking statements. Important factors that could cause
actual results to differ from those indicated by such forward-looking
statements include uncertainties relating to the ability of our new
management to successfully integrate the operations of Parthus and Ceva,
uncertainties relating to the continued acceptance of our DSP cores and
semiconductor intellectual property offerings, continuing or worsening
weakness in our markets and those of our customers, quarterly variations
in our results, and other uncertainties that are discussed in our most
recent quarterly report on Form 10-Q of ParthusCeva (formerly called Ceva,
Inc.), on file with the U.S. Securities and Exchange Commission.