CEO quits at loss-making Cyrix
No reason was given for the resignation but the Texas-headquartered firm has a spotty fiscal record. For the quarter ending September 30, 1996, Cyrix had revenues of $33.1 million, down from $53.6 million for the equivalent quarter last year and made a net loss of $6.9 million, compared to a small profit the year earlier. Cyrix has lost $21.4 million in the first nine months of 1996.
In a short press statement, Cyrix said Rogers will remain on the board and it is looking for a replacement for him as president and CEO.
"Jerry has done a great job guiding Cyrix through its recent difficult time, said chairman Berry Cash. "We are coming out of these difficulties with a strong product offering that has attracted healthy customer interest."
"I just find it amazing," said Richard Baker, regional manager for PC products at fellow CPU maker AMD. "I can only think they're going to announce something significant like a slip for the M2 [a forthcoming CPU with MMX instructions]. I hope it doesn't mean Cyrix is dropping out of the game. The more of us fighting Intel the better."
PCDN Comment: The surprise here is that after a precarious year, Cyrix appears to have an excellent chance of turning itself around. It has hot technology in the 6x86 and forthcoming processors aimed at NetPC and similar devices. Also, it has picked up some sizeable deals from European OEMs such as Tulip and Vobis.