Broadcom (NASDAQ:AVGO) welcomes Kenneth Hao, bids farewell to Raul Fernandez

Broadcom (NASDAQ:AVGO) has announced the expansion of its Board of Directors and the appointment of Kenneth Y. Hao as an independent member, effective February 5, 2024.

Hao, Chairman and Managing Partner of Silver Lake, will join the Board without immediate assignment to any committees.

His compensation will align with the current framework for non-employee directors at Broadcom, including an initial restricted stock unit (RSU) award valued at $53,279.

In related news, Raul Fernandez has informed Broadcom that he will not seek re-election at the 2024 annual meeting of stockholders, marking his departure from the Board effective February 5, 2024.

Fernandez plans to serve on the Board and its committees until his term concludes at the 2024 Annual Meeting.