Tom Krause to Become President of Infrastructure Software Group
San Jose, Calif., Dec. 10, 2020 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced the following senior leadership appointments, effective immediately, reporting to Hock Tan, President and Chief Executive Officer:
- Tom Krause, currently Chief Financial Officer of Broadcom, has been named President of the new Infrastructure Software Group, overseeing the Company's six software divisions as well as software sales, customer support and software operations.
- Charlie Kawwas, currently Senior Vice President and Chief Sales Officer of Broadcom, has been named Chief Operating Officer of Broadcom, now overseeing the Company's global operations, as well as continuing to be responsible for sales for the Semiconductor and Brocade Storage Networking businesses and corporate marketing for all of Broadcom.
- Kirsten Spears, currently Vice President, Corporate Controller and Principal Accounting Officer of Broadcom, will now assume the role of Chief Financial Officer of Broadcom.
Henry Samueli, Ph.D., Chairman of the Board of Broadcom Inc., said, "Through a series of strategic acquisitions and a steadfast commitment to R&D, Broadcom has grown to be one of the world's leading technology companies. The leadership appointments announced today underscore the Board's focus on driving the long-term growth and sustainability of Broadcom. Hock has created tremendous value and built a deep bench of talent. With these changes, Broadcom will be best positioned to build on its accomplishments and capture the significant opportunity it has ahead."
Mr. Tan said, "Tom, Charlie and Kirsten are invaluable members of our management team, and these appointments demonstrate our Company's commitment to continued growth and success in the future. With this strong group of leaders, we look forward to building on our outstanding track record of shareholder value creation."
For Fiscal Year 2020, Broadcom's one-year total shareholder return ("TSR") was 23.5%. Broadcom's TSR has increased by 15.7% annually on average over the past three years, and by 26.8% annually on average over the past five years. Additionally, since its initial public offering in 2009, Broadcom has increased its absolute TSR by over 2,500%, averaging a TSR increase of 34.0% annually.
Mr. Tan has been granted a new long-term performance-based equity award that incentivizes him through the end of fiscal 2023. The Company will file today with the SEC the amended agreements with Mr. Tan, Mr. Krause and Dr. Kawwas and the new agreement with Ms. Spears.
About Tom Krause
Tom Krause has been Chief Financial Officer of Broadcom since October 2016, overseeing all financial functions, mergers and acquisitions, information technology, human resources and investor relations. He joined the company as Vice President of Corporate Development in January 2012. Prior to joining, Mr. Krause ran his own financial advisory firm where he represented several public and private technology companies. Prior to this, he served as Vice President of Business Development at Techwell, a mixed-signal fabless semiconductor company that went public in 2006 and was acquired by Intersil in 2010. Additionally, he has had roles with Technology Crossover Ventures and Robertson Stephens. Mr. Krause received a B.A. in Economics from Princeton University.
About Charlie Kawwas, Ph.D.
Charlie Kawwas has been Senior Vice President and Chief Sales Officer of Broadcom, responsible for global sales and marketing across all business divisions, since June 2015. Dr. Kawwas joined the company through the LSI acquisition where he was head of worldwide sales. Previous positions at LSI include Vice President of Sales and Marketing for the networking division and Vice President of Marketing for the networking and storage products group. Before joining LSI, Dr. Kawwas was the leader of Product Line Management for the Optical Ethernet and Multi-service Edge portfolio at Nortel. Dr. Kawwas received a B.Eng. in Computer Engineering, an M.S. in Electrical Engineering and Computer Engineering, and a Ph.D. in Electrical and Computer Engineering from Concordia University, Montreal, Canada. Dr. Kawwas was awarded Alumnus of the Year for 2020 by Concordia University.
About Kirsten Spears
Kirsten Spears has been Vice President and Corporate Controller of Broadcom since May 2014. In this role, she was responsible for the accounting and business controllership, financial planning and analysis, financial reporting activities and related disclosure controls and global financial shared services including payroll. Previously, she was Vice President and Corporate Controller at LSI. She joined LSI in September of 1997 and held a number of management positions in accounting and reporting before becoming the Corporate Controller in 2007. Before LSI, Ms. Spears worked for PriceWaterhouseCoopers in audit; for Raychem, managing a variety of accounting functions; and for Bank of America, managing branch operations. Ms. Spears holds an M.B.A. from Santa Clara University.
About Broadcom Inc.
Broadcom Inc., (NASDAQ: AVGO), a Delaware corporation headquartered in San Jose, CA, is a global technology leader that designs, develops and supplies a broad range of semiconductor and infrastructure software solutions. Broadcom's category-leading product portfolio serves critical markets including data center, networking, enterprise software, broadband, wireless, storage and industrial. Our solutions include data center networking and storage, enterprise, mainframe and cyber security software focused on automation, monitoring and security, smartphone components, telecoms and factory automation. For more information, go to www.broadcom.com.
Beatrice F. Russotto
Source Broadcom Inc.