Silicon Image CEO resigns and search is under way for replacement; CFO named as COO

Silicon Image CEO resigns; CFO is appointed as COO

SUNNYVALE, Calif. — Silicon Image Inc. said Monday that CEO Steve Tirado, who is 55, has resigned.

The Sunnyvale, Calif.-based company has hired a recruiting firm to find a new CEO. It did not say why Tirado resigned.

Hal Covert, who was chief financial officer, will take over as president and chief operating officer, effective immediately. Covert is 62.

Also Monday, the company said its third-quarter revenue would be lower than previously expected.

Silicon Image shares fell 21 cents, or 7.2 percent, to $2.69 in aftermarket trading Monday after closing regular trading at $2.90.