Weebit’s big ‘Dadi’ to take a bigger role in the company
Published 03-MAY-2016 09:40 A.M.
2 minute read
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Former Intel Vice President David ‘Dadi’ Perlmutter has agreed to take the position of Non-Executive Chairman with Weebit Nano Ltd.
The position will come into effect at the settlement of the proposed acquisition of Weebit by Radar Iron Ltd (ASX:RAD).
Mr. Perlmutter has been with Weebit since 1 April 2016 in the position of Non-Executive Director and brings with him extensive industry experience in the semi-conductor space and a vast list of contacts.
As the preeminent provider of semi-conductor chips and platforms, Intel has provided a rare breeding ground for top tech talent of which Mr. Perlmutter is one. His roles at Intel include Executive Vice President and Chief Product Officer at Intel Corporation and General Manager of the Intel Architecture Group.
Mr. Perlmutter was directly responsible for developing several of Intel’s major products and had an enormous impact on Intel’s business globally.
He grew Intel’s business from US$35 billion in 2008 to more than $50 billion. By 2013, he managed 35,000 people worldwide and oversaw investments and acquisitions exceeding $2.5 billion.
While at Intel he developed the 1387 math co-processor, for which he received an award for innovation in industrial development from the President of Israel. He also led the team that developed the architecture of Intel’s Pentium Processor in the late 1980s and led Intel into the data centre industry and wireless communication via development of Wi-Fi products for Centrino; acquiring 3G and LTE.
“This further appointment is a massive gain for the management and shareholders of the company,” said Weebit CEO Yossi Keret.
As a Managing General Partner of Eucalyptus Capital Growth he has been focused on investment in late stage Israeli technology companies, where he helps grow their business.
Radar iron is expected to meet on 18 May to seek approval for the step required for the Weebit acquisition and associated re-compliance capital raising.
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