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|Item 5.02.|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 28, 2023, Shin Young Park, Chief Financial Officer, as well as the principal financial officer and principal accounting officer, of Magnachip Semiconductor Corporation (the “Company”), went on maternity leave. In Ms. Park’s absence, the Board of Directors of the Company appointed Mr. Young-Joon Kim, the Company’s Chief Executive Officer, to serve as Interim Chief Financial Officer and to assume the duties of principal financial and accounting officer of the Company on a temporary basis, with such appointment effective as of April 28, 2023. We currently expect Ms. Park to return at the end of July or early August 2023, and upon her return from maternity leave, she will return to the position of Chief Financial Officer and the principal financial and accounting officer of the Company, and Mr. Kim will continue in his role as the Company’s Chief Executive Officer.
Biographical information for Mr. Kim is available in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the Securities and Exchange Commission on February 22, 2023, and such information is incorporated herein by reference. Mr. Kim will not receive additional compensation in connection with his role as Interim Chief Financial Officer.
|Item 7.01.|| |
Regulation FD Disclosure.
On May 1, 2023, the Company issued a press release announcing Ms. Park’s maternity leave and the appointment of Mr. Kim as Interim Chief Financial Officer as described in Item 5.02 of this Form 8-K. A copy of the Company’s press release is furnished with this Form 8-K and attached hereto as Exhibit 99.1.
The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.
|Item 9.01.|| |
Financial Statements and Exhibits
The following exhibit is furnished as part of this report:
|99.1||Press release of Magnachip Semiconductor Corporation dated May 1, 2023.|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document).|
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 hereunto duly authorized.
|MAGNACHIP SEMICONDUCTOR CORPORATION|
|Dated: May 1, 2023||By:|| |
/s/ Theodore Kim
|Chief Compliance Officer, General Counsel and Secretary|
Magnachip Announces CFO Maternity Leave
SEOUL, South Korea, May 1, 2023 Magnachip Semiconductor Corporation (Magnachip or the Company) (NYSE: MX) announced today that Shin Young Park, the Companys Chief Financial Officer and the principal financial and accounting officer, went on maternity leave. In Ms. Parks absence, the Board of Directors of the Company appointed Mr. Young-Joon Kim, the Companys Chief Executive Officer, to serve as Interim Chief Financial Officer and to assume the duties of principal financial and accounting officer of the Company on a temporary basis, with such appointment effective as of April 28, 2023. We currently expect Ms. Park to return at the end of July or early August 2023, and upon her return from maternity leave, she will return to the position of Chief Financial Officer and the principal financial and accounting officer of the Company, and Mr. Kim will continue in his role as the Companys Chief Executive Officer.
About Magnachip Semiconductor Corporation
Magnachip is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, computing, industrial and automotive applications. The Company provides a broad range of standard products to customers worldwide. Magnachip, with more than 40 years of operating history, owns a portfolio of approximately 1,100 registered patents and pending applications, and has extensive engineering, design, and manufacturing process expertise. For more information, please visit www.magnachip.com. Information on or accessible through Magnachips website is not a part of, and is not incorporated into, this release.
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