Marvell has appointed Adobe CFO Dan Durn as its new finance chief, betting on his semiconductor industry experience to support its AI-driven expansion strategy.
Marvell Technology has announced the appointment of Dan Durn as its new Chief Financial Officer, effective June 15. Durn, who currently serves as CFO at Adobe, will succeed Willem Meintjes, who is stepping down after more than three years in the role.
To ensure a smooth leadership transition, Meintjes will continue working with the company in an advisory capacity until April 2027.
The leadership change comes as Marvell seeks to strengthen its position in the rapidly expanding artificial intelligence infrastructure market. Growing investments in AI-driven data centers have increased demand for advanced networking solutions and custom semiconductor technologies, areas where Marvell has been expanding its presence.
Durn brings extensive financial and operational experience from across the semiconductor industry. Before joining Adobe, he held senior finance positions at Applied Materials, NXP Semiconductors, Freescale Semiconductor, and GlobalFoundries. Marvell CEO Matt Murphy said Durn’s deep industry expertise will help the company capitalize on opportunities created by the accelerating adoption of AI infrastructure.
As part of the transition, Durn resigned from Marvell’s board of directors on June 10 ahead of taking on the CFO role.
The appointment follows Marvell’s recent bullish outlook for its custom AI chip business. The company said last month that revenue from its custom silicon segment is expected to exceed $10 billion in fiscal 2029. It also raised its fiscal 2028 revenue forecast to approximately $16.5 billion, reflecting strong demand from AI-related customers.
Alongside the leadership announcement, Marvell reaffirmed its financial guidance for the second quarter of fiscal 2027. Despite the positive long-term outlook, the company’s shares declined about 2% in extended trading following the news.
