Imagination Technologies, the U.K. company that makes graphics chips for Apple’s iPhones and iPads, is ditching its CEO and its strategy as it heads for its second consecutive year of losses.

The semiconductor design and licensing company plans to sell its loss-making digital audio business, Pure, which has dogged its results for years, but will invest more in its PowerVR graphics core designs, which Apple uses in its iPhones and iPads.

Board member Andrew Heath will serve as interim CEO while the company searches for a replacement for Sir Hossein Yassaie, who had run the company since 1998.

To read this article in full or to leave a comment, please click here