Marvell Taps Adobe’s Dan Durn as CFO; Forecasts $10B Custom Chip Revenue
MRVL•Marvell named Adobe finance chief Dan Durn as CFO effective June 15, with predecessor Willem Meintjes transitioning to an advisory role through April 2027. The company forecast over $10 billion in custom chip revenue by fiscal 2029 and raised its 2028 outlook to about $16.5 billion, though shares dipped 2%.
1. CFO Appointment Details
Marvell announced the appointment of Dan Durn as chief financial officer effective June 15. Durn joins from Adobe and has held senior finance roles at Applied Materials, NXP Semiconductors, Freescale Semiconductor and GlobalFoundries. He succeeds Willem Meintjes, who will remain in an advisory capacity through April 2027.
2. AI Infrastructure Demand
The CFO change coincides with a surge in spending on AI-related data center infrastructure, which has boosted demand for advanced networking and custom chip technologies. Marvell aims to leverage Durn’s experience to capitalize on this expanding market.
3. Financial Outlook and Market Reaction
Marvell forecast its custom chip business to exceed $10 billion in revenue by fiscal 2029 and raised its fiscal 2028 revenue outlook to about $16.5 billion. The company reaffirmed its second-quarter fiscal 2027 outlook, while its shares slipped 2% in extended trading following the announcement.
