BUSINESS BRIEFING / EXECUTIVES
Times Staff and Wire Reports
Irvine-based semiconductor manufacturer Microsemi Corp. will retain Chief Executive James Peterson after a board review concluded that he didn’t receive bachelor’s or master’s degrees from Brigham Young University.
Peterson will pay $100,000 to the company and forgo a bonus for the current fiscal year, Microsemi said. During the last three years, his annual bonuses averaged about $680,000, the company said. Microsemi will also delay the vesting of Peterson’s stock grants by one year.
