Finally, Silicon Graphics announced that Dennis McKenna has been named chairman of the board, chief executive officer and president, effective immediately. McKenna succeeds Robert Bishop, who will remain on the board of directors and serve as vice chairman. "Dennis McKenna is a proven leader, with an established track record of driving positive results in difficult business environments. He is well balanced in strategy, business development and operational execution - a combination that we believe will bring improved results to SGI and its stakeholders," said James McDivitt, SGI's lead director. "To me, the name SGI is synonymous with High Performance Computing. Having the opportunity to lead this company with its passionate employees and innovative customers is very exciting. I am confident my global background in business development and operational execution will add to the strength of our products and solutions," said McKenna. "We have challenges that we are addressing. My approach will be to continue to do what we do well, do it more efficiently and productively, and to determine how what we do well can extend our ability to grow revenue and profits. I believe this will give our current and potential customers and partners confidence in our ability to deliver leading HPC solutions into the future." McKenna brings over 20 years of front-line leadership experience in high technology companies to SGI. Prior to joining SGI, McKenna was the CEO of privately held SCP Global Technologies, a leading supplier of semiconductor capital equipment. While at SCP, he returned the company to profitability by repositioning the services business and completing a strategic technology sale. Prior to his work with SCP, McKenna was chairman and CEO of ChipPAC, a global semiconductor manufacturing and services company with 6,000 employees. McKenna established ChipPac by leading an LBO, taking the company public in 2000 and initiating a $1.6 billion merger with STATS Singapore in 2004 to form STATS ChipPac (NASDAQ: STTS). McKenna's previous management roles in the technology industry have also included executive positions with Hyundai Electronics America and Oki Semiconductor. McKenna is also a member of the board of directors of Legerity, a privately held semiconductor company. He graduated from Wayne State University with a business degree and started his career with Burroughs in Michigan. "The board of directors acknowledges with gratitude Bob Bishop's 20 years of service to SGI, including the past six years as chairman and CEO," said McDivitt. "We are pleased that Bob will continue to contribute his passion for SGI and its customers and employees as vice chairman of the board." "It has been my honor to serve as the company's leader for the last six years and to foster the company's spirit of innovation and entrepreneurship," said Bob Bishop, vice chairman of SGI. "Throughout its 24-year history, SGI has always made strategic high-impact contributions to the IT industry. I welcome Dennis McKenna into the role of chairman and CEO, knowing that he will balance the company's focus on technical markets with the pursuit of new activities that accelerate our path to profitability."