InterDigital, Inc., a mobile and video technology research and development company, has announced that William J. Merritt will retire effective April 5, 2021, after 25 years at the company and nearly 16 years as President and CEO.
Mr. Merritt will also step down from the company’s Board of Directors. InterDigital has announced the appointment of industry veteran Liren Chen as the company’s next President and CEO effective April 5, 2021. Mr. Chen will also be appointed to the InterDigital Board as a director. Mr. Merritt has agreed to provide certain consulting services in order to facilitate an orderly transition.
“There is no question that Bill’s leadership has been outstanding and the Board thanks him for his years of great contributions as he looks forward to the next chapter in his life. After a thoughtful and thorough search process, the Board of Directors determined that Liren Chen’s proven expertise and leadership skills make him the best CEO to lead InterDigital forward,” said S. Douglas Hutcheson, Chairman of the Board. “Liren’s tenured and successful career at one of the world’s most innovative technology companies speaks for itself. His years of IP licensing, global business expertise, and technical capabilities are a unique combination that aligns perfectly with InterDigital’s opportunities. The Board is pleased that he has agreed to take the helm at a time of great opportunity for InterDigital, and we look forward to working with Liren to build on our company’s strong momentum.”
Mr. Chen joins InterDigital from Qualcomm, where he was Senior Vice President and Global Head of IP, Legal Counsel.
“I am honored to become InterDigital’s next President and CEO,” said Liren Chen. “I have tremendous respect for the InterDigital Board and management team and recognize the important role InterDigital has been playing to develop the fundamental technologies that enable 4G and 5G cellular systems and advanced multimedia systems. I am fully committed to building on InterDigital’s track record of success and innovation and continuing to deliver value for all stakeholders.”
“I am profoundly appreciative of the experiences and opportunities I have had here at InterDigital,” said Merritt. “Working with so many talented people, it has been the thrill of a lifetime to build a company that is ranked among the leaders in standards-focused wireless and video technologies, and is also an undisputed thought leader in fair licensing practices. I am also very excited about the company’s expansion into new technology areas. We have built a great platform and I wish Liren great success in driving the company’s growth for years to come. Having had a chance to work closely with him during the search process, I am confident he has the skills, temperament, and the passion to be a great leader for the organization.”
Doug Hutcheson continued, “On behalf of our entire Board, I want to thank Bill for his countless contributions to the company over the course of his distinguished career, including working with the Board over the last number of months to ensure a smooth transition. Under his leadership, InterDigital has stood at the forefront of our industry. Bill has played an instrumental role in executing on the vision that has set us apart from other research-backed licensing companies. Through his years of hard work and dedication, Bill has built a terrific team and a great business, positioning us well for the future. We wish him all the best in his retirement.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.