PR Newswire
KISTA, Sweden, July 22, 2024
Appointment underscores Sivers' commitment to continued growth globally in the rapidly emerging satellite, 5G, silicon photonics, and laser sensors markets
The new CEO, Vickram Vathulya, commits to make a sizable stock purchase
KISTA, Sweden , July 22, 2024 /PRNewswire/ -- Sivers Semiconductors AB (Sivers), a leading supplier of integrated chips and photonics modules for the most advanced communications and sensor solutions, today announced the appointment of Vickram Vathulya as its new President & CEO, succeeding Anders Storm, effective August 19, 2024.
Dr. Vathulya brings over 25 years of experience in the semiconductor industry with a proven track record in building strategically sound businesses backed by strong organizational talent while navigating complex market dynamics to lead Sivers through its next phase of growth. As CEO, Vathulya will leverage his senior leadership experience, extensive network, and deep understanding of the semiconductor industry to drive Sivers' strategic initiatives worldwide.
Dr. Vathulya most recently served as President of Nuvotronics, spearheading a strategic, operational, and cultural transformation for long-term growth and value creation. Prior to that, he revitalized the standard products business at Maxim Semiconductors, the largest and most profitable business in the company portfolio. His experience also includes other executive leadership roles, such as successfully growing a variety of RF and wireless businesses at Maxim Integrated and NXP Semiconductors. Vathulya has a Ph.D. in Electrical Engineering from Lehigh University in Pennsylvania and an MBA from the Berkeley Haas School of Business, University of California.
Dr. Bami Bastani, recently appointed Chairman of the Board for the Sivers Semiconductors AB, said: "Vickram's leadership qualities and industry expertise are exactly what Sivers was looking for in this CEO appointment in order to accelerate our aggressive growth strategy in the US and worldwide. His proven ability to deliver profitable growth and build high-performance teams will be invaluable as we aim to cement our position as a leader in advanced semiconductor and photonic solutions."
"I'm excited to join Sivers and work alongside our talented wireless and photonics leaders, teams and innovative customers to expand our footprint in the global markets, driving the next phase of our growth journey," said Vathulya. "Our portfolio of RF products for Satcom & 5G systems and optical products for AI computing and sensing demonstrates the truly cutting-edge capability Sivers brings to the market. With several marquee customers recently selecting Sivers for their solutions, I am confident the company is on the cusp of remarkable growth and shareholder value creation."
The appointment of Dr. Vathulya comes at an exciting time for Sivers, as the company gains significant market momentum in SATCOM, 5G and AI Photonics. During the first 6 months of 2024 the company announced multiple new customer wins, including two major satellite communication deals valued at $7.6 million and a $1.3 million collaboration with a strategic customer to develop photonic chipsets for AI solutions. During 2023 the company grew net revenue by 80%, and continues to see significant growth in product revenue in 2024.
The company is implementing a new incentive plan, including stock option grants. The new CEO, Vickram, has made a sizable commitment to buy and, or subscribe to 2 million shares up to $1m, subject to EGM approval of the plan.
For more information, please contact:
Dr. Bami Bastani, Chairman of the Board
Tel: +1 908 87 28 370
E-mail: [email protected]
This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on July 22, 2024, 08:00 CET.
Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com.
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