MARVELL SHARES SURGE AFTER LEADERSHIP OUSTER

Shares of Marvell Technology Group soared Tuesday after the chipmaker announced the termination of its CEO and president, effective immediately. Marvell says its board will conduct a search to replace CEO Sehat Sutardja and President Weili Dai — the husband-andwife team who co-founded the company in 1995. Both will remain on Marvell’s board of directors. Shares of Marvell (MRVL) closed up 13% to $10.88 Tuesday.