ClearSpeed Technology has announced that its CEO has resigned from the company.
Tom Beese is leaving the Bristol-based processor developer with immediate effect.
Two weeks ago the company announced its intention not to remain a quoted company. This followed a disappointing set of results for 2008 and the company has begun a cost-cutting programme.
ClearSpeed is a developer of computer accelerator chip IP which it licenses to OEMs including BAE Systems.
ClearSpeed started licensing its parallel processor technology last year. Until then its approach has been that of a fabless chip company designing, making and selling chips and boards, principally into computing applications.
BAE was the company's first licensing deal.
In November, ClearSpeed appointed Russell David, as semiconductor specialist, to the board as chief operating officer.