Chipmaker Marvell's CEO, president stepping down

(Reuters) - Marvell Technology Group Ltd's chief executive and president are stepping down, two months after activist investor Starboard Value LP disclosed a stake in the chipmaker and said its shares were undervalued. Chief Executive Sehat Sutardja co-founded the chipmaker in 1995, along with his wife Weili Dai, the president, and brother Pantas. Starboard, run by Jeffrey Smith, wants Marvell to cut costs and exit its mobile-wireless business, a person familiar with the matter had told Reuters