Here it comes again: Will Actel revamp its product lines--or are more layoffs due? Time will tell. But as part of a new deal with Ramius, Actel will expand its board of directors to nine members and add three new independent directors. The three new members of Actel's board will be Eric J. Zahler, former president and chief operating officer of Loral Space & Communications Inc., Jeffrey C. Smith, a partner of Ramius, and Gavin T. Molinelli, a vice president of Ramius.
Then, Actel also agreed to reduce the size of its board to eight members at its annual meeting. Actel and Ramius will work together to replace Molinelli with a new independent director, unaffiliated with Ramius, who has experience in the semiconductor industry.