PMC-Sierra's Bob Bailey to Step Down as CEO

Bob Bailey will be retiring as PMC-Sierra's president and CEO once a replacement has been named. A search for a replacement is underway. Bailey will continue to serve as chairman of the board through his current term. Bailey joined PMC-Sierra in 1993 and has served as the company's president and CEO since July 1997. He's been chairman of the board since May 2005 to now, and also served as chairman from February 2000 until February 2003.

http://www.pmc-sierra.com