Obrem Capital supports election of Daniel Heneghan to Micrel's board of directors

By Lisa Kerner

Charlotte, N.C., Nov. 11 - Micrel Inc. announced that Daniel Heneghan was elected to the company's board of directors.

Heneghan is the fifth independent director on the company's six-person board, according to a Micrel news release.

Micrel said Heneghan has more than 25 years of experience in financial and executive positions in the semiconductor and high-tech industries. Most recently, Heneghan was the chief financial officer of Intersil Corp.

Micrel shareholder Obrem Capital Management, LLC said it was pleased with the election of Heneghan and with the steps taken by Micrel to deepen its board of directors.

In July, Obrem withdrew its slate of nominees for election to Micrel's board and agreed to support the company's nominees.

Obrem had called for a special meeting to be held in May for Micrel shareholders to vote on a proposal to rescind Micrel's shareholder rights plan and to expand the board to six members. Obrem also sought the election of its six nominees to the board.

Shareholders rejected all proposals made by Obrem at that meeting, Micrel noted.

Micrel develops and manufactures high-performance analog power, mixed-signal and digital integrated circuits. The company is based in San Jose, Calif.

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