Business
Adeia Announces CEO Paul Davis to Step Down by the Fourth Quarter of 2026; Board Launches Search Process
SAN JOSE, Calif., May 04, 2026 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the technology company known for developing foundational innovations that enable next-generation solutions for the semiconductor and media industries, today announced that after nearly 15 years at the company (including its predecessor companies), with the past four years serving as chief executive officer of Adeia Inc., Paul E. Davis has informed the company and the Board of Directors (the “Board”) that he intends to
About this update from Adeia Inc.
SAN JOSE, Calif., May 04, 2026 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the technology company known for developing foundational innovations that enable next-generation solutions for the semiconductor and media industries, today announced that after nearly 15 years at the company (including its predecessor companies), with the past four years serving as chief executive officer of Adeia Inc., Paul E. Davis has informed the company and the Board of Directors (the “Board”) that he intends to step down as the company’s chief executive officer and as a member of the Board to focus on his health and personal pursuits. Davis plans to stay on as the chief executive officer and Board member until such time as a successor has been named, with a target date for the search to be completed by the fourth quarter of 2026. In accordance with the company’s established governance policies, the Board is launching a search led by a special transition committee of the Board (the “Transition Committee”) that will be chaired by Dan Moloney, the company’s chairman of the Board. The Transition Committee will benefit from its existing chief executive officer succession planning process and will consider internal and external candidates. A nationally recognized search firm will assist the Transition Committee throughout the process. “Paul has been a steady hand at the wheel as chief executive officer, leading the company through a successful separation from Xperi and transitioning the company from one that was primarily reliant on revenue from Pay-TV customers to one with a growing and diverse customer base for both the media and semiconductor markets, and setting Adeia up for an even brighter future to come,” said Dan Moloney, chairman of the Board. “Our business today is positioned for continued revenue growth, led by an exceptional executive team with decades of experience and past successes. We are incredibly appreciative of Paul’s leadership over the past four years.” Davis has built an enduring culture at Adeia that is focused on innovation and connections, both internally and with its customers and partners. He started at Adeia’s predecessor company, Tessera Technologies, in 2011 as associate general counsel and quickly earned the trust and respect of the management team and Board and was named the general counsel within two years of joining the company. He helped guid...