Wednesday, May 14, 2008

Broadcom Execs Take Leaves of Absence Following SEC Charges

Broadcom's Chairman and Chief Technical Officer, Dr. Henry Samueli, and Senior Vice President and General Counsel, David A. Dull, have each taken leaves of absence as executive officers of Broadcom pending resolution of a civil complaint filed against them by the U.S. Securities and Exchange Commission relating to its previously- disclosed investigation of Broadcom's historical stock option granting practices.

Also pending resolution of the civil action, Dr. Samueli has resigned as a member of the Board of Directors and as Chairman of the Board of Directors of the company. The Board has named John E. Major, an independent director of the company since January 2003, to serve as non-executive Chairman of the Board of Directors.

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