Advertisement
Singapore markets close in 7 hours 17 minutes

  • Straits Times Index

    3,301.72
    +29.00 (+0.89%)
     

  • Nikkei

    38,326.71
    +774.55 (+2.06%)
     

  • Hang Seng

    16,993.17
    +164.24 (+0.98%)
     

  • FTSE 100

    8,044.81
    +20.94 (+0.26%)
     

  • Bitcoin USD

    66,801.73
    -215.79 (-0.32%)
     

  • CMC Crypto 200

    1,436.31
    +21.55 (+1.52%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • Dow

    38,503.69
    +263.71 (+0.69%)
     

  • Nasdaq

    15,696.64
    +245.33 (+1.59%)
     

  • Gold

    2,333.30
    -8.80 (-0.38%)
     

  • Crude Oil

    83.39
    +0.03 (+0.04%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • FTSE Bursa Malaysia

    1,568.20
    +6.56 (+0.42%)
     

  • Jakarta Composite Index

    7,110.81
    -7,073.82 (-49.87%)
     

  • PSE Index

    6,506.80
    0.00 (0.00%)
     

Chipmaker Marvell appoints Richard Hill chairman

Reuters

(Reuters) - Chipmaker Marvell Technology Group Ltd has appointed Richard Hill its chairman, as part of an agreement it reached with activist hedge fund Starboard Value LP last week.

Marvell had reached an agreement with Starboard to add to its board three independent directors nominated by the hedge fund.

Hill, whose appointment came into effect on Sunday, is also among the four independent directors that Yahoo Inc agreed to add to its board last week under pressure from Starboard.

He is also on the board of software maker Autodesk Inc.

Starboard, which has been agitating for changes at Marvell since early this year, has a 6.5 percent stake in the chipmaker.

Peter Feld and Oleg Khaykin are the other two directors that Marvell added to its board.

(Reporting by Kshitiz Goliya in Bengaluru; Editing by Kirti Pandey)