ClearSpeed Technology has appointed Russell David to the board as chief operating officer.

At the same time John Hart, one of the non executive directors, has resigned as part of restructuring process announced at the time of the Group interim results which now is largely completed.

A semiconductor specialist, David joined ClearSpeed in 1998 and is responsible for the development and delivery of the Group's hardware and software, including silicon and board products, and the development tools and application software.

“This appointment to the Board recognises the excellent work he has put in at ClearSpeed over the last decade,” said Richard Farleigh, ClearSpeed chairman.

“On behalf of the Board I would like to thank John for his valuable contribution over the last few years and wish him well for the future. He has agreed to continue to assist us in an advisory capacity,” said Farleigh.

At the interim results in September, the parallel processor developer, reported revenues of £500,000 in the first six months of the year. This represented a four-fold increase on the same period a year ago.

The high end processor company, which has offices in Bristol and the US, said  at the time that it would carry out further restructuring to reduce its cost base but “allow retention of the core team to work with development partners”.

“We have developed a very strong product offering but, as with many new technologies, the challenge is to gain acceptance in the marketplace. Consequently, we have continued to reduce costs and focus on the careful management of our resources,” said Farleigh.