Sir hossein yassaie biography books
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“On behalf of the Board and everyone at Imagination, I would like to thank him for his considerable contribution, his passion, leadership and achievements.”
The departure of Sir Yassaie comes as Imagination reported an EBIT loss for the financial year up to April 2016 as well as share price dropping 7%.
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Hossein Yassaie
Education and early life
Yassaie came to Britain in 1976 from Iran and became a United Kingdom national in 1984. Thank you very much!
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Since the Group published its half year results in December 2015, market conditions have not improved and the slow-down in the overall semiconductor sector has continued, reinforced by global uncertainty about future trading prospects with China.
Imagination also announced details of restructuring and cost cutting initiatives including the sale of Pure, its consumer electronics business, in a bid to cut costs, saying it felt there were “more appropriate owners for Pure”.
The group is expecting to reduce the total operating costs of its on-going businesses by £15million in the financial year ending April 2017.
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“Imagination is now one of the genuine UK-headquartered companies with significant global influence and impact.”He added: “It’s now time for someone else to lead this great company.”
Bert Nordberg, chairman of Imagination Technologies, said: “Hossein has led the creation of Imagination’s successful IP business model over many years and through his vision and drive, the Group has become a global technology leader.
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Nordberg added: “The measures announced today will allow the business to maintain the necessary investment in key areas, in order to further strengthen our unique IP, technologies and system solutions.”
Hossein Yassaie
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However, its net budget is shrinking. He stayed at Birmingham to complete a Doctor of Philosophy degree on the application of Charge-Coupled Devices (CCDs) to Sonar.
Following his PhD, Hossein was a postdoctoral research fellow at the University of Birmingham for several years.
Yassaie then spent eight years working at STMicroelectronics and Inmos.
£2m of which will be re-invested into the group’s key graphics processor technology product, PowerVR. He studied Electronics and Communications at the University of Birmingham gaining a first class honours Bachelor of Science degree in 1979. He joined Imagination Technologies in 1992, becoming its CEO in June 1998 focusing the business on advanced technology development using the semiconductor intellectual property business model and created the brand Pure.
Yassaie resigned his position as CEO of Imagination Technologies on the 8 February 2016, amid calls for his resignation from shareholders after slumps in profits and spiralling costs.
Awards and honours
Hossein received a knighthood in the 2013 New Year Honours in recognition of his services to technology and innovation.
He was awarded the honorary degree of DUniv by the University of Birmingham in 2013.
In September 2016 he was elected a Fellow of the Royal Academy of Engineering.
Andrew Heath, a non-executive director who has held executive roles at Rolls-Royce and Alent, has been appointed interim chief executive while Imagination searches for a new chief executive.
“We have built Imagination from very small beginnings into the leading provider of graphics processors as well as general purpose micro-processors and connectivity solutions,” Sir Yassaie said.