Dublin-based technology firm ParthusCeva today said its chief executive Mr Kevin Fielding and chief financial officer Mr Elaine Coughlan have resigned.
They will be both replaced by candidates who will be based at the company's corporate headquarters in San Jose, California, the company said in a statement.
Both Mr Fielding and Ms Coughlan will continue working with the company through the transition period.
Mr Peter McManamon however will replace Mr Fielding as a director in the company.
The company said executive functions will be shared by chairman Mr Eli Ayalon and vice-chairman Mr Brian Long, who will become interim-CEO until a new CEO is appointed.
Once a new CEO is appointed, Mr Ayalon and Mr Long intend to resign from their positions as chairman and vice-chairman respectively but will continue as non-executive directors.
An additional independent non-executive director will be appointed to serve as chairman.
The firm, formed last year from the merger of Parthus and the Ceva division of US-based DSP Group, said recently it would report a net loss of up to $25.2 million (€24.06 million) for the quarter.
ParthusCeva said it expects revenue to be between $5 million to $5.6 million for the fourth quarter ended December 31st, 2002, significantly below pre-merger forecasts for revenues at the company.
