Roseville, California – Jan 4 2016 –
Dear TSI Customers:
First, TSI wishes to thank you for your continued dedication and business. This has enabled TSI to increase its revenue base over 2014 and achieve “break even” EBITDA in 2015 — a key milestone for any growing enterprise . We have also just concluded our “year end” Operations review and Board meeting where we have planned for another growth year in 2016. 2016 is expected to bring new challenges to TSI as we seek to ramp up both Foundry and TDCS business levels while we continue to fulfill all of our present customer obligations.
As TSI executes its strategy in the next phase of its growth, the company is making an executive management change that is expected to bring needed scale and stability to TSI. We wish to advise you that our CEO, Sagar Pushpala, is leaving the company. Please join us in thanking Sagar for his efforts on TSI’s behalf and wishing him success in the future.
Effective January 25 of 2016, Bruce Gray ( our current independent board member and a veteran of the semiconductor industry ) will assume the CEO role at TSI. Bruce is no stranger to TSI as he has spent over a year working with many of our teams to improve manufacturing efficiency. In addition, Bruce has been the CEO of Silterra Malaysia Sdn Bhd where he significantly increased revenue and EBITDA, as well as the President / Acting CEO of Xicor, Inc ( a programmable analog / NVM product company ).
Until Bruce is fully on board at TSI, the executive management team, in conjunction with me, will handle the daily business activities for the company during this interim period.
As TSI moves forward in 2016, the company will continue to fulfill all of our business commitments to our customers. Please continue to support TSI with your confidence and business — TSI is dedicated to helping you make your businesses successful.
Thank you and Best regards,
Chairman, TSI Semiconductors, Inc.
About TSI Semiconductors
TSI Semiconductors is a specialty analog and mixed-signal Trusted and ITAR Foundry with ISO, Automotive and Industrial Class Certifications and offers state-of-the-art contract semiconductor foundry services at its world-class manufacturing location in Roseville, California. At its 8-inch fabrication plant in Roseville, Ca, TSI can manufacture products in a large array of versatile processes that include analog/mixed-signal, deep-submicron, high-voltage BCDMOS, and emerging-market solutions, using traditional and novel materials, structures and devices. Find out where tradition and innovation meet in one place at www.tsisemi.com.
Scott Olsen, (916)789-4662