The recent resignation of two board members at Irvine-based Netlist Inc. is the latest setback for the struggling computer memory products maker.
Independent director Claude Leglise, in a resignation letter to Chief Executive Chun Hong, said disagreements with management prompted his departure.
“You have refused to meet with me and have a substantive discussion,” the Oct. 8 letter said. “I am therefore unable to effectively perform my duties as a member of the board of directors.”
Leglise’s resignation came two days after the resignation of Alan Portnoy, who served as chair of the Nominating and Corporate Governance Committee.
“The company believes that Mr. Portnoy’s resignation was due at least in part to his disagreement with the company’s strategic and financing plans,” Netlist said in a regulatory filing.
Netlist’s revenue has fallen, and losses have mounted for three consecutive quarters amid a rash of unresolved legal disputes with several companies over patent infringement and trade secret misappropriation claims that have plagued the company for years, curtailing product adoption and keeping investors at a distance.
Netlist didn’t respond to a request for comment.
The company is now down to three board members.
Firms, Execs Take Honors
Irvine-based memory products maker Western Digital Corp., Costa Mesa startup Airwolf 3D, software maker Telogis Inc., and Microsemi Corp. Chief Executive Jim Peterson were among the big winners at the 21st annual OC Tech Alliance High-Tech Innovation Awards.
Western Digital took home the award in the Cloud/SaaS/Web Platform Solutions category and the Company of the Year award in the large-company category. Aliso Viejo-based GPS and fleet management software maker Telogis won the top prize among midsize companies.
Airwolf, a maker of 3-D printers, earned a nod in the Enterprise Hardware & Devices category.
Peterson took home honors as the top chief executive among large companies, and Simon Arkell of Aliso Viejo-based Predixion Software garnered recognition in the midsize company category.
Check out www.octechalliance.com for the full list of winners.
Google and Magic
Chatter is picking up in tech circles that Google Inc. is planning a big investment in Florida-based Magic Leap Inc., which is developing a 3-D technology billed to be more realistic than Irvine-based Oculus VR Inc.’s virtual reality headset Oculus Rift. The expected funding round is projected to be in the neighborhood of $500 million, with noted VC and Oculus backer Andreessen Horowitz potentially in the fold.
