PMC-Sierra (Nasdaq:PMCS) has appointed Greg Lang as its new president and CEO.
The broadband technology developer said the appointment will be effective immediately following the resignation of Robert Bailey, the company's current president and CEO.
PMC, which has its headquarters in Burnaby, said Bailey will resign once the company's financials for 2008's first quarter are filed in early May.
The company did not provide a reason for Bailey's resignation, although it reported that he will continue on as chairman of PMC-Sierra's board.
Lang was formerly the CEO of Integrated Device Technology Inc. (Nasdaq:IDTI), a U.S. based digital technology developer. He also spent 15 years with Intel Corp., where he was vice-president and general manager of the company's platform networking group.
PMC's share price range during the past week: between $5.60 and $6.05; 52-week high: $9.83; 52-week low: $4.21.