Marvell Technology, Inc. (NASDAQ:MRVL) shares were trading more than 2% higher Thursday afternoon following the company’s announced CFO change and narrowed Q4 guidance range.
Jean Hu, the company’s well-regarded CFO, is leaving to become CFO at AMD. The company’s Chief Accounting Officer and Treasurer, Willem Meintjes, is being promoted to CFO effective January 20.
Furthermore, the company reaffirmed the midpoint of its Q4 revenue guidance, tightening the range from $1.4 billion plus/minus 5% to plus/minus 3%.