InfiniBand processor developer Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX) had a very good year in 2009, as it was barely affected by the crisis that hit the semiconductor industry. Although the share fell more sharply in late 2008 and early 2009 than its competitors, such as Broadcom Corporation (Nasdaq: BRCM) and LSI Corporation (NYSE: LSI), Mellanox's share rose over 130% in 2009 as a whole, and sales recovered after just two quarters.
One of the biggest beneficiaries of Mellanox's success is founder, chairman, president and CEO Eyal Waldman. On Friday, the company's board of directors allotted him an additional 45,000 options, which can be vested over the next five years. The options are worth $900,000 on the basis of the shares' closing price on Friday.
The board also raised Waldman's annual salary from $325,000 to $375,000, beginning in April 2010.
Mellanox's share closed at $19.82 on Nasdaq on Friday, giving a market cap of $639 million. The share opened at NIS 75 on the TASE today.
Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2010
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