Lewis Chew to take on EVP & CFO role; Murray Demo to retire on
SAN FRANCISCO--(BUSINESS WIRE)--
Dolby Laboratories, Inc. (NYSE: DLB) today announced the appointment of
Lewis Chew as the company's Executive Vice President and Chief Financial
Officer, effective June 4, 2012, replacing Murray Demo.
Chew comes to Dolby with decades of financial management experience.
From April 2001 to September 2011, he served as Senior Vice President,
Finance, and Chief Financial Officer of National Semiconductor, where he
was responsible for all finance functions as well as information systems
and investor relations. Prior to that role, he served for two years as
Corporate Controller and one year as Director of Global Internal Audit.
"I am confident that Lewis's strong track record in finance, operations,
and IT will ensure a smooth transition that continues Dolby's commitment
to shareholder value and allows us to continue to focus on growing our
core business and expanding into new markets," said Kevin Yeaman,
President and CEO, Dolby Laboratories.
Before joining National Semiconductor in 1997, Chew was a partner and
certified public accountant at KPMG LLP, serving numerous technology and
financial institution clients. Chew has been recognized five times as
one of America's best CFOs by Institutional Investor magazine in
its annual ranking. In 2009, Chew was a finalist for Bay Area CFO of the
Year; and in 2002, Treasury and Risk Management magazine named
him as one of the nation's top 40 finance executives under the age of 40.
"I'm honored to take the role of CFO, and I'm excited about the
opportunities ahead for Dolby," said Chew. "Dolby has a great portfolio
of products, strong financial and operational accountability, and is
well positioned for growth as the industry evolves."
Chew serves on the board of directors at PG&E Corporation. He holds a
bachelor of science degree in accounting from Santa Clara University.
Chew will serve on an interim basis as a non-executive, part-time
employee of Dolby from March 27 through June 3, and he will assume the
position of CFO on Monday, June 4.
Chew replaces Murray Demo, who plans to retire on June 3. Demo will
continue at Dolby working closely with Chew through June 3 to ensure a
About Dolby Laboratories
Dolby Laboratories (NYSE: DLB) is the global leader in technologies that
are essential elements in the best entertainment experiences. Founded in
1965 and best known for high-quality audio and surround sound, Dolby
creates innovations that enrich entertainment at the movies, at home, or
on the go. For more information about Dolby Laboratories or Dolby
technologies, please visit http://www.dolby.com.
Dolby and the double-D symbol are registered trademarks of Dolby
Laboratories. S12/25490 DLB-F
Joshua Gershman, 415-645-5611
Source: Dolby Laboratories, Inc.
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