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08-04-2016, 10:40 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
hubby is ah neh and wife is ah tiong bu.....kena investigated for prematurely booking revenue and inflate sales numbers. they got fired as ceo and president respectively but remain on the board. ah neh hubby is still chairman of board while they hunt for a new executive team. their hq is very prominent and huge along highway 237 in santa clara before the lawrence expressway exit. shocking.
http://venturebeat.com/2016/04/07/th...ilicon-valley/ (http://venturebeat.com/2016/04/07/the-shocking-fall-of-marvells-weili-dai-long-hailed-as-a-role-model-for-women-in-silicon-valley/)
by chris o'brien of venture beat
april 7, 2016
A few years ago, I made the trek out to the headquarters of Marvell Technology Group in Santa Clara to meet cofounder and president Weili Dai. As an immigrant, an engineer, an entrepreneur and, yes, a woman, hers was a remarkable tale of success.
And it was a tale oft told. I wrote a profile for the Los Angeles Times following our interview. But I was hardly the first or the last to profile the astonishing woman who had been lauded so many times as a pioneer and an inspiration and a role model.
I’ll admit that I didn’t take too much notice when I heard some of the rumblings about accounting issues and investigations at Marvell a few months ago. So it was a shock to see that Dai and her husband, Marvell cofounder and CEO Sehat Sutardja, had been fired this week.
In a press release, the company said Sutardja and Dai will remain on the board of directors, with Sutardja continuing as chair. Marvell has created an executive committee to run the company while the board searches for new leadership. Marvell’s accounting firm resigned a few months ago and has been replaced in the midst of the ongoing inquiry.
The couple’s dismissal comes after a months-long probe found no accounting fraud. But, as Reuters noted, the investigation found: “There was ‘significant pressure’ from the management on sales teams to meet revenue targets. The audit committee also noted that internal controls were not fully followed and revenue was booked prematurely for some transactions.”
Certainly the demise of Sutardja is its own tragic story. But for many years, Dai served as the public face of Marvell. A tough executive who balanced that role with the role of goodwill ambassador for the company, she was funny, fashionable, scary smart, and personable.
Dai, a software engineer, and Sutardja, a chip designer, cofounded Marvell in 1995. The company is a “fabless” semiconductor company, meaning it designs the chips, and someone else builds them.
A native of Shanghai, Dai moved to the U.S. with her family as a girl. She became interested in technology at an early age and eventually graduated from UC Berkeley with a degree in computer science. As an undergraduate, she completed an internship at Bell Labs in New Jersey, and in 1984, after graduating, she started working at Xerox’s PARC lab in Palo Alto.
The company grew, with Dai receiving much of the public acclaim. As her bio on the company’s website notes: “Weili Dai is one of the most successful women entrepreneurs in the world today…the only woman cofounder of a global semiconductor company.”
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?227910-tiong-and-neh-co-founders-allegedly-cook-books-at-marvell-of-sillycon-valley&goto=newpost).
hubby is ah neh and wife is ah tiong bu.....kena investigated for prematurely booking revenue and inflate sales numbers. they got fired as ceo and president respectively but remain on the board. ah neh hubby is still chairman of board while they hunt for a new executive team. their hq is very prominent and huge along highway 237 in santa clara before the lawrence expressway exit. shocking.
http://venturebeat.com/2016/04/07/th...ilicon-valley/ (http://venturebeat.com/2016/04/07/the-shocking-fall-of-marvells-weili-dai-long-hailed-as-a-role-model-for-women-in-silicon-valley/)
by chris o'brien of venture beat
april 7, 2016
A few years ago, I made the trek out to the headquarters of Marvell Technology Group in Santa Clara to meet cofounder and president Weili Dai. As an immigrant, an engineer, an entrepreneur and, yes, a woman, hers was a remarkable tale of success.
And it was a tale oft told. I wrote a profile for the Los Angeles Times following our interview. But I was hardly the first or the last to profile the astonishing woman who had been lauded so many times as a pioneer and an inspiration and a role model.
I’ll admit that I didn’t take too much notice when I heard some of the rumblings about accounting issues and investigations at Marvell a few months ago. So it was a shock to see that Dai and her husband, Marvell cofounder and CEO Sehat Sutardja, had been fired this week.
In a press release, the company said Sutardja and Dai will remain on the board of directors, with Sutardja continuing as chair. Marvell has created an executive committee to run the company while the board searches for new leadership. Marvell’s accounting firm resigned a few months ago and has been replaced in the midst of the ongoing inquiry.
The couple’s dismissal comes after a months-long probe found no accounting fraud. But, as Reuters noted, the investigation found: “There was ‘significant pressure’ from the management on sales teams to meet revenue targets. The audit committee also noted that internal controls were not fully followed and revenue was booked prematurely for some transactions.”
Certainly the demise of Sutardja is its own tragic story. But for many years, Dai served as the public face of Marvell. A tough executive who balanced that role with the role of goodwill ambassador for the company, she was funny, fashionable, scary smart, and personable.
Dai, a software engineer, and Sutardja, a chip designer, cofounded Marvell in 1995. The company is a “fabless” semiconductor company, meaning it designs the chips, and someone else builds them.
A native of Shanghai, Dai moved to the U.S. with her family as a girl. She became interested in technology at an early age and eventually graduated from UC Berkeley with a degree in computer science. As an undergraduate, she completed an internship at Bell Labs in New Jersey, and in 1984, after graduating, she started working at Xerox’s PARC lab in Palo Alto.
The company grew, with Dai receiving much of the public acclaim. As her bio on the company’s website notes: “Weili Dai is one of the most successful women entrepreneurs in the world today…the only woman cofounder of a global semiconductor company.”
Click here to view the whole thread at www.sammyboy.com (http://www.singsupplies.com/showthread.php?227910-tiong-and-neh-co-founders-allegedly-cook-books-at-marvell-of-sillycon-valley&goto=newpost).