On October 16, 2015, the board of directors of the Pavonia Ltd. appointed Anthony E. Maslowski as the Chief Financial Officer and as the principal financial officer of the Company, with immediate effect. Mr. Maslowski, age 55, is Senior Vice President and Chief Financial Officer of Avago, which he joined in 2006 as Vice President of Internal Audit. Prior to joining Avago, Mr. Maslowski served as the Chief Financial Officer for Allegro Manufacturing Pte Ltd. and, prior to that, he held senior finance management positions at Lam Research Corporation and Hitachi Data Systems Corporation.

The company also announced the election of two additional members, James V. Diller, and Lewis C. Eggebrecht, each presently a director of Avago, to the Company's Board. Mr. Diller, age 80, was a founder of PMC-Sierra Inc., serving as PMC's Chief Executive Officer from 1983 to July 1997 and President from 1983 to July 1993. Mr. Diller also served as a director of PMC since its formation in 1983 until December 2013.

Mr. Eggebrecht, aged 71, served as Vice President and Chief Scientist of ICS from 1998 through May 2003. Mr. Eggebrecht has held various other technical and executive management positions for more than 30 years, including as Chief Multimedia Architect at Phillips Semiconductor Manufacturing Inc., as Graphics Architect at S3 Graphics Limited, and Vice President of Research and Development at Commodore International Limited, and as a small systems architect for 15 years at International Business Machines Corporation.