Toon to be CEO of XMOS
Nigel Toon has been appointed the new CEO of XMOS, the Bristol-based fabless maker of C-programmable ICs.
“The challenge over the next 12 to 18 months is to show we’re making the right progress in design wins and in defining a clear position for the company,” Toon told EW.
Unlike his previous companies, Icera and PicoChip, XMOS has a wide range of markets into which it can sell it chips.
Icera was sold to Nvida after ten years for $367m after VCs had invested $250m in the company.
PicoChip was sold for around $50m after 11 years after VCs had invested $100m in the company.
Is Toon taking the job to grow the company or sell it?
“I’ve just been telling the people here at XMOS that our goal is to build a $100m revenue business in the next five years,” replied Toon.
XMOS wwas founded in 2005. How patient are his investors?
“We’ll be quiet for the next three months while we talk to customers,” responded Toon, “and then we’ll have to show we’re heading in the right direction and doing the right thing.”