Los Altos, California, United States – 08/15/2006
Rambus Inc. (NASDAQ: RMBS) announced today that Geoff Tate, former CEO of the Company from 1990 through 2005, has given notice of his intention to resign from its Board of Directors. “On behalf of Rambus, we thank Geoff for his efforts in building the Company’s strong technology base and for his many contributions to the Company as CEO and Director,” said Kevin Kennedy, Chairman of the Rambus Board of Directors.
As announced on July 19, 2006, the Audit Committee of the Rambus Board of Directors has reached a preliminary conclusion that the actual measurement dates for certain stock option grants issued in prior years differ from the recorded grant dates for such awards. During this period, Geoff was CEO and the sole member of the Stock Option Committee. Given these circumstances and to ensure that there is not even the appearance of a conflict of interest, Geoff felt he could best support the Company by resigning from his position on the Board as Rambus resolves these issues.