Lonergan Partners is pleased to announce that Martin ‘Marty’ McDermut has been named Chief Financial Officer at Applied Micro Circuits Corporation (AppliedMicro). The search was led by Mark Lonergan.
Martin ‘Marty’ McDermut was most recently Senior Vice President Finance and Chief Financial Officer of Vitesse Semiconductor Corporation from August 2011 until April 2015, when the company was acquired by Microsemi Corporation. Prior to Vitesse, he served as CFOfor publicly traded companies including Iris International Inc. and Superconductor Technologies Inc. He was a partner at the public accounting firm of Coopers & Lybrand (now known as PricewaterhouseCoopers LLP), where he was the practice leader of the firm’s Los Angeles Entrepreneurial Advisory Services group.
Marty is a Certified Public Accountant. He holds an MBA in Finance and Accounting from The University of Chicago, and a BA in Economics from the University of Southern California.
AppliedMicro (Nasdaq:AMCC) is a global leader in silicon solutions for next-generation cloud infrastructure and data centers, as well as connectivity products for edge, metro, and long-haul communications equipment. The company’s corporate headquarters are located in Santa Clara, California.
Marty is a seasoned executive with over 30 years of financial leadership experience, a wealth of strategic and operational expertise, and deep knowledge of the semiconductor industry. We are thrilled to have him join our executive team.Dr. Paramesh Gopi, President & CEO, AppliedMicro
I am excited to join AppliedMicro at this important time in the company’s transformation. AppliedMicro is the clear leader in the ARM® server and high-speed connectivity markets and we are highly focused on maximizing value for our shareholders.Marty McDermut, CFO, AppliedMicro
Marty McDermut is one of the most statured Chief Financial Officers in the public company semiconductor market. He will add a great deal to the strategy and the operational execution capabilities of AppliedMicro going forward.Mark Lonergan, Founder & Managing Partner, Lonergan Partners