International Rectifier Corp. said Tuesday that its founder and chairman, Eric Lidow, will retire effective on May 1.
Lidow has served as chairman since 1995 and previously served as chief executive. Eric Lidow’s son, Alex, was appointed his replacement but subsequently resigned Aug. 30 amid an investigation into accounting irregularities. Due to the investigation, the El Segundo-based maker of high-efficiency computer chips has not posted any quarterly earnings statements for 2007.It is scheduled to release its annual earnings report for the fiscal year ended June 30, 2007 by June 17. That Deadline is subject to reassessment, the company said.
Alex Lidow’s departure, which was for unspecified reasons, was the third departure of a member of the company’s executive suite last year. Oleg Khaykin was elected his replacement effective March 1.
Eric Lidow founded International Rectifier in 1947.
Shares were down 19 cents to $24.05 in early trading Tuesday.