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Actionable news in MRVL: Marvell Technology Group Ltd.,

Marvell Technology (MRVL) Stock Skyrockets as CEO, President Resign

NEW YORK (TheStreet) -- Marvell Technology Group (MRVL - Get Report) shares are surging 14.86% to $11.05 in Tuesday's pre-market trading session after the announcement that CEO Sehat Sutardja and President Weili Dai are leaving their management positions, effective immediately.

The two will remain on the company's board with Sutardja continuing as chairman.

Arturo Krueger, Marvell's lead outside director, thanked the two for their "enormous contributions," noting that the company has "revolutionized the world through its innovative technology and breakthrough designs in the semiconductor industry."

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