Scotts Valley, Ca., USA - October 14, 2009, Scotts Valley, Ca., USA - Multigig Inc., an electronics company, announced that Michael L. Canning has joined the company as chief executive officer, and Haris Basit, co-founder and former CEO has been appointed chief strategy officer.
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Dr. Canning has more than four decades of experience in the Semiconductor Industry, the last 25 years in Executive Management positions and the last 10 as CEO of Public and Private Companies. Most recently, he was President & CEO of SiRF Technology, where he managed a successful IPO in 2004 and grew the company rapidly to a $400M revenue run rate. Prior to that, he was President & CEO of Stream Machine, a digital video recording startup which was acquired by Cirrus Logic Inc. Prior to Stream Machine he spent 12 years at Cirrus Logic, starting as a member of the founding executive team and leaving after the company had reached more than $1B in revenue.
As Executive VP Operations, Dr. Canning was responsible for pioneering a new concept called "Fabless" Manufacturing, which is now standard practice in the industry. As President of the Mass Storage Division, he created a profitable $300-400M business providing storage chips for magnetic and optical storage applications. He has also served as President of Teledyne Semiconductor and in Engineering and R&D positions at Signetics/Philips, Commodore/MOS Technology, Intersil and Texas Instruments. Dr. Canning holds an MBA from the University of Santa Clara, a Ph.D. (EE) from the University of Newcastle-upon-Tyne, and a BSc(EE) from the University of Durham.
Haris Basit has extensive experience bringing early technology from the drawing board to product introduction, working with nascent technologies as diverse as ultra-bright LED's and heterojunction bipolar transistors. Mr. Basit joined the Company in March 2004 as its Chief Operating Officer. From 1999 to 2004 Mr. Basit was VP, Business Development for OEA International, a leading edge circuit design and EDA software company. From 1997 to 1999, Mr. Basit was West Coast Regional Manager for Bell Labs' Design Automation (sold to Cadence Design Systems), where he was responsible for sales, marketing and customer support. ■