Broadcom co-founder Henry Samueli returns to work
Cleared last month of criminal wrongdoing by a federal judge, Broadcom Corp. co-founder Henry Samueli has returned to the Irvine chip designer as senior vice president and chief technical officer, a company spokesman said Tuesday.
Samueli, who founded Broadcom in 1991 with friend Henry T. Nicholas III, resumed his former positions in December after a federal judge threw out his guilty plea in a stock- option backdating case, said Bob Marsocci, Broadcom’s vice president for corporate communications.
In June 2008, Samueli pleaded guilty to a single count of making false statements to federal regulators during the options investigation. Last month, U.S. District Judge Cormac J. Carney said he did not believe that Samueli committed a crime and set aside his guilty plea. The judge also dismissed options-related charges against Nicholas and William J. Ruehle, Broadcom’s former chief financial officer.
Samueli, who also is owner of the Anaheim Ducks hockey team, had taken a leave of absence in 2008 but continued to work as an advisor to the company, Marsocci said.
Broadcom was one of several firms accused of wrongdoing for setting the dates of stock option grants to make them more valuable to employees without disclosing the moves in regulatory filings.
Broadcom designs chips used in such products as Apple Inc.’s iPhones and Bluetooth headsets. Nicholas, who left the company in 2003, still faces federal narcotics distribution charges.
