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Posted 02 April, 2024

MICROCHIP TECHNOLOGY INC appointed new CEO

CEO Change detected for ticker Nasdaq:MCHP in a 8-K filed on 02 April, 2024.


  On April 1, 2024, the Board of Directors of Microchip Technology Incorporated (the "Company"), appointed Richard J. Simoncic as Chief Operating Officer of the Company. In this position, Mr. Simoncic will report to Ganesh Moorthy, the President and Chief Executive Officer of the Company.  

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Overview of MICROCHIP TECHNOLOGY INC
Technology • Semiconductors
Microchip Technology, Inc. engages in the provision of semiconductor products. It operates through the Semiconductor Products and Technology Licensing segments. The Semiconductor Products segment is involved in designing, developing, manufacturing, and marketing microcontrollers, development tools and analog, interface, mixed signal, connectivity devices, and timing products. The Technology Licensing segment offers license fees and royalties associated with technology licenses for the use of SuperFlash embedded flash and Smartbits one-time programmable technologies. The company was founded on February 14, 1989, and is headquartered in Chandler, AZ.
Market Cap
$47.0B
View Company Details
MICROCHIP TECHNOLOGY INC by TradingView
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


Appointment of Chief Operating Officer


On April 1, 2024, the Board of Directors of Microchip Technology Incorporated (the "Company"), appointed Richard J. Simoncic as Chief Operating Officer of the Company. In this position, Mr. Simoncic will report to Ganesh Moorthy, the President and Chief Executive Officer of the Company. 


Mr. Simoncic, age 60, has served as the Company's Executive Vice President since April 2023. He served as Vice President, Analog Power and Interface Business Units from September 1999 to April 2023 and, from October 1995 to September 1999, he served as Vice President in various roles. Since joining Microchip in 1990, Mr. Simoncic held various roles in Design, Device/Yield Engineering and Quality Systems. Mr. Simoncic holds a B.S. degree in Electrical Engineering Technology from DeVry Institute of Technology.


There are no family relationships between Mr. Simoncic and any director or executive officer of the Company, and Mr. Simoncic has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. 


Retirement of Executive Officer


On April 1, 2024, Stephen V. Drehobl, the Company's Senior Vice President, MCU 8 and MCU 16 Business Units, informed the Company of his retirement from the Company effective June 7, 2024.