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Two Tessera directors to quit unless chairman resigns
February 25, 2013 / 1:10 PM / 5 years ago

Two Tessera directors to quit unless chairman resigns

Feb 25 (Reuters) - Two of Tessera Technologies Inc’s directors said Chairman Robert Boehlke was obstructing the smooth functioning of the board and they would resign on March 1 unless he steps down.

Tessera has an intellectual property unit that licenses chip-packaging technology and an unprofitable digital optics unit that sells technology used in cellphone cameras.

The company said Boehlke does not intend to resign and it expects the resignations of John Goodrich, a member of the board since August 2001, and Kevin Rivette, a director since March 2011.

Goodrich and Rivette said in a letter to Tessera that Boehlke prevented “effective operating oversight,” cost control and strategic planning, and they would like to serve on Tessera’s board again if Boehlke was removed.

“We remain convinced that our technology assets, Internet protocol (IP) and human resources are far more valuable than reflected by the current stock price,” they said.

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