Exhibit 99.1
[LOGO]
FOR IMMEDIATE RELEASE
ELANTEC SEMICONDUCTOR ANNOUNCES NEW PRESIDENT AND CHIEF
EXECUTIVE OFFICER
MILPITAS, CALIFORNIA, July 24, 2000 Elantec Semiconductor, Inc. (NASDAQ:
ELNT) today announced the appointment of Mr. Richard Beyer as its new President and Chief
Executive Officer. In addition, Mr. Beyer will join the Board of Directors of Elantec.
Mr. Beyer replaces Jim Diller, the Companys Chairman who has been serving as the
President and Chief Executive Officer. Prior to joining Elantec, Mr. Beyer was President
and CEO of FVC.COM, Inc. Prior to FVC.COM, Mr. Beyer was President and Chief Operating
Officer (and member of the Board of Directors) for VLSI Technology, Inc. and previously
he was Executive Vice President and Chief Operating Officer for National Semiconductor
Corporation. Mr. Beyer holds a Masters degree in business from Columbia University.
All of us at Elantec are very pleased to welcome Rich to the
Company. Rich not only brings a wealth of experience in general management and in the
semiconductor industry; he also has solid experience in leading public companies.stated
Jim Diller, Chairman of Elantec. During my short tenure as CEO of Elantec, the
Company experienced strong growth and we are optimistic about our future and the markets
that we serve. I and the rest of the Board look forward to Richs leadership toward
our next stage of growth. Although I am formally retiring, I will continue to contribute
to the future success of Elantec serving as Chairman of the Board.
Elantec designs, manufactures and markets high performance analog
integrated circuits primarily for the video, optical storage, communication, and
integrated DC:DC markets. The Company targets high growth commercial markets in which
advances in digital integrated circuit technology are driving increasing demand for high
speed, high performance and low power consumption analog circuits.
Certain matters discussed in this press release pertaining to the market
conditions, market trends and growth prospect are forward-looking statements that involve
risks and uncertainties.
These risks and uncertainties include product introductions by the Companys
competitors, market conditions, competitive pricing pressures, fluctuations in
manufacturing yield, changes in the mix or markets in which products are sold,
availability and cost of raw materials, and other risks discussed in the Companys
1999 Form 10-K and most recent Form 10-Q, filed with the Securities and Exchange
Commission. The Companys actual results could differ materially from those
discussed herein.
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