New CEO for Imagination Technologies

British chip maker Imagination Technologies has announced the appointment of a new chief executive.

Dr Leo Li (pictured), the chairman of the Global Semiconductor Alliance and a well-known and respected figure in the semiconductor industry, has taken on the role. He has more than 30 years of semiconductor experience, including positions as chairman, chief executive and president of Spreadtrum Communications and chairman of RDA. He was also co-president at Tsinghua Unigroup.

With extensive experience of working in both the US and China, two of Imagination’s major markets, the appointment of Dr Li supports the company’s strategy of expanding into China and bridging the gap between the US, Europe and Asia.

Imagination Technologies is already capitalising on the opportunities in China, one of the largest semiconductor markets in the world, through new licensing deals.

The company is focused on creating and licensing a broad range of silicon intellectual property. Dr Li replaces Andrew Heath, who has led Imagination since February 2016 and was responsible for first returning the company to profitability and then brokering the sale of the company to US-based private equity firm Canyon Bridge.

Said Ray Bingham, founding partner at Canyon Bridge Capital Partners and executive chairman of Imagination: “Andrew has done a great job as chief executive of Imagination through a challenging period. He is leaving the company with a strong roadmap and sales pipeline and with excellent partnerships around the world, especially in Asia. We thank him for his invaluable contribution over the last two years.”

He added: “With his extensive experience in both the global semiconductor industry and China, Leo will lead Imagination on the next phase of its journey as a world-leading, independent IP supplier. He will deliver leadership for its graphics and connectivity customers, continued growth and our new vision in AI technologies. This appointment demonstrates our commitment to hire the best talent, invest in new technology and acquire and serve customers globally.”

Said Dr Li: “I have paid close attention to Imagination over the years. We have a strong strategy today to evolve the company to the next level of success by capitalising on the opportunities in other markets, particularly China, one of the largest semiconductor markets in the world. We will have a renewed focus on technology innovation through strengthening our R&D capabilities, making Imagination a clear global technology leader again, and bringing value to our customers. With the equity and strategic capital provided by Canyon Bridge, Imagination can reach its full potential as a world-leading, independent IP supplier.”