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EX-10.1 - EX-10.1 - CYPRESS SEMICONDUCTOR CORP /DE/ | a17-15077_1ex10d1.htm |
8-K - 8-K - CYPRESS SEMICONDUCTOR CORP /DE/ | a17-15077_18k.htm |
Exhibit 99.1
June 11, 2017
Dear Fellow Directors:
With mixed emotions, I hereby tender my resignation, effective immediately, both as Executive Chairman of Cypress Semiconductor and as a member of the Cypress Board of Directors. It has been a pleasure and a privilege working with all of you.
Together we have achieved a great deal to benefit our shareholders. We took difficult but necessary steps in removing TJ as both CEO and as a Director. I believe we also made an excellent decision in appointing Hassane as CEO. Under Hassanes leadership, I am confident that the Cypress 3.0 strategy is key to a bright future for the Company. In sum, I am quite proud of our many accomplishments as a Board and a company during my tenure.
Despite all of the fine work, we now are engaged in a prolonged, collateral struggle with TJ over the future composition of the Board. As a result, my position on the Board has become a distraction from the Companys focus on the task of paramount importance to our shareholders the most effective possible execution of the 3.0 plan.
Thus, for the Companys greater good, I am tendering this resignation.
Very truly yours, |
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/s/ Ray Bingham |
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Ray Bingham |
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