MagnaChip (MX) just unveiled an update.
Woungmoo Lee has stepped down as Executive Vice President and General Manager of Mixed-Signal Solutions at Magnachip Semiconductor Corporation, effective July 31, 2024. Following his resignation, Lee will provide consulting services to the company. His separation package includes a year’s worth of severance pay, a prorated annual bonus for 2024, and treatment of his unvested equity awards as if he were terminated without cause. Additionally, Lee has agreed to a consulting role with the company’s Korean subsidiary for 11 months, which includes a monthly compensation and allowances.
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