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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 20, 1999
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QLOGIC CORPORATION
(Exact name of Registrant as specified in its charter)
Delaware 0-23298 33-0537669
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No)
3545 Harbor Boulevard, Costa Mesa, California 92626
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (714) 438-2200
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Not Applicable
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(Former name or former address, if changed since last report)
Page 1 of 5
Exhibit Index on Page 3
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ITEM 5. OTHER EVENTS
On May 20, 1999, the Registrant issued a press release regarding the
retirement of Gary E. Liebl, its first Chairman of the Board. A copy of the
press release is attached as Exhibit 99.1 and incorporated herein by this
reference.
ITEM 7. EXHIBITS
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EXHIBIT NO. DESCRIPTION
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99 Press Release issued by the Registrant on May 20, 1999,
announcing the retirement of Gary E. Liebl.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
QLOGIC CORPORATION
Date: May 25, 1999 By: /s/ H.K. DESAI
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H.K. Desai
President and Chief Executive Officer
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EXHIBIT INDEX
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SEQUENTIAL
EXHIBIT NO. DESCRIPTION PAGE NO.
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99 Press Release issued by the Registrant on May 20, 1999, 4
announcing the retirement of Gary E. Liebl.
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FOR IMMEDIATE RELEASE
EDITOR'S CONTACT:
Tom Anderson
QLogic Corporation
Phone: 714/668-5092
Fax: 714/668-5090
E-mail: [email protected]
LIEBL RETIRES AS CHAIRMAN OF QLOGIC CORPORATION
COSTA MESA, Calif., May 21, 1999 - QLogic Corp. (NASDAQ:QLGC) announces the
retirement of its first Chairman of the Board, Gary E. Liebl. Mr. Liebl has
served as the company's Chairman since February of 1993, when it was spun out of
Emulex Corporation as a separate public company. During those six years, the
company has become a leader in pioneering the introduction of Fibre Channel
technology and the market capitalization of QLogic has grown from about $35
million to approximately $2.0 billion.
"I am extremely proud of the QLogic team and the company's tremendous
accomplishments over the past six years," stated Mr. Liebl. "QLogic is a unique
and remarkable success story. While I had not intended to participate for more
than one year after the `spin,' I remained during the critical growth years. The
company now has undeniable success momentum and a management team qualified to
take it to the next level. This is an excellent time for me to step aside. I
look forward to finally having the additional time I desire for not-for-profit
endeavors and more time in Maui for my wife and myself."
"As a board member of Emulex Corporation, Mr. Liebl was asked in 1992 to lead
the planning and implementation of the creation of QLogic," according to George
Wells, a company director. "In the process, he recruited the board of directors,
all but one of whom are still involved. He also recruited the CEO, H.K. Desai,
and has actively and very effectively supported management in key, strategic
respects throughout the past five years. His skills including those involving
corporate governance, will be missed."
"Gary and I have collaborated very closely since I was selected President in
1995," stated H.K. Desai. "As a new CEO of a public company, our close
interaction and his participation allowed QLogic to make critical strategic
decisions quickly and effectively. I respect Gary immensely and will miss his
participation at QLogic."
The Board of QLogic has elected H.K. Desai as the new Chairman of the Board.
ABOUT QLOGIC
QLogic Corporation is a leading designer and supplier of semiconductor and
board-level I/O and enclosure management products. The company's products
provide high-performance
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interface connections for computer systems and their attached data storage
peripherals, such as hard disk drives, tape drives and RAID subsystems. In
addition, QLogic provides enclosure management products that monitor and
communicate management information related to components that are critical to
computer system and storage subsystem reliability and availability. QLogic's
highly integrated, fully featured solutions are targeted at the computer system,
storage device and storage subsystem marketplaces.
The company is utilizing its expertise to develop products for emerging
standards such as Fibre Channel and Ultra3, as well as, SAF-TE, SES, and IPMI
enclosure management solutions.
For more information about QLogic and its product lines, contact QLogic Corp.,
3545 Harbor Blvd., Costa Mesa, CA 92626; telephone: 800/662-4471 (sales);
714/438-2200 (corporate); fax: 714/668-5008; home page http://www.qlc.com
With the exception of historical information, the statements set forth above
include forward-looking statements that involve risks and uncertainties. The
Company wishes to advise readers that a number of important factors could cause
actual results to differ materially from those in the forward-looking
statements. Those factors include new and changing technologies and customer
acceptance of those technologies; a change in semiconductor foundry capacity or
conditions; fluctuations in the growth of I/O markets; fluctuations or
cancellations in orders from OEM customers; the Company's ability to compete
effectively with other companies; cancellation of OEM products associated with
design wins; and reductions in the need for space and increased costs of
operations due to facility relocations. Carrying additional expansion space may
increase costs and adversely impact future earnings.
These and other factors which could cause actual results to differ materially
are also discussed in the company's filings with the Securities and Exchange
Commission, including its recent filings on Form S-3, Form 10-K, and Form 10-Q.
Trademarks and registered trademarks are the property of the companies with
which they are associated.
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