Marvell CEO Upheaval Clears Path to Takeover as Activist Presses

  • Husband and wife company co-founders to remain on the board
  • Changes may make chipmaker more receptive to sale offers

Sehat Sutardja.

Photographer: David Paul Morris/Bloomberg

The management changes at Marvell Technology Group Ltd. remove a major hurdle to a possible acquisition of the chipmaker, the target of an activist investor agitating for new leadership amid falling sales and accounting missteps.

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