Power Integrations fires chief financial officer, says move is unrelated to financials

Monday, May 10, 2010

Power Integrations fires chief financial officer

SAN JOSE, Calif. — Power Integrations Inc. said Monday it fired its chief financial officer.

The company didn’t explain the move other than to say that the firing of Bill Roeschlein was not related to financial statements or regulatory issues.

According to a recent regulatory filing, Roeschlein was the subject of a felony domestic assault criminal complaint filed in Missouri. He had denied the allegations, according to the filing, which described the case as being in the early stages.

Roeschlein joined Power Integrations in June 2008 after serving as CFO at software company Selectica Inc. and controller of Ultra Clean Holdings Inc., a semiconductor capital equipment maker. He also held audit positions with Hewlett-Packard, and Coopers & Lybrand, according to the filing.

Power Integrations said president and CEO Balu Balakrishnan would act as interim CFO while the company looks for a successor.

The company also reaffirmed its outlook for second-quarter financial results, which it offered last month.

The San Jose company makes integrated circuits used in power conversion between alternating and direct current.

In extended trading after the announcement of the CFO’s firing, shares lost $1.15, or 3.2 percent, to $35.

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