Analyst Note
| William Kerwin |On Jan. 11, 2023, narrow-moat Marvell Technology announced a succession plan for its CFO position and narrowed its guidance for the fiscal fourth quarter of 2023. We make no changes to our thesis or our $57 fair value estimate. Jean Hu, Marvell's incumbent chief financial officer, is leaving effective Jan. 20 to join AMD as its CFO. Replacing her will be Willem Meintjes, Marvell's current chief accountant and treasurer, who has internally been the named successor to Hu for years.