Marvell Tech CFO Mike Rashkin To Retire May 22

Marvell Technology Group Ltd. said Thursday that Chief Financial Officer Mike Rashkin is retiring effective May 22 after 16 years with the company. The chip maker said Sukhi Nagesh, currently vice president of finance and investor relations, will serve as interim CFO. Sukhi is a former Deutsche Bank analyst who joined Marvell in 2011. Shares fell 3.3% in after-hours trade, and are down 0.9% in the year so far, while the S&P 500 has gained about 3.5%.