- Steve Sanghi made permanent CEO and President of Microchip Technology (MCHP, Financial).
- Microchip's recovery plan underway with several completed elements.
- Sanghi's long-term leadership expected to stabilize company operations.
Microchip Technology (MCHP) has announced that Steve Sanghi will continue as the company's Chief Executive Officer and President on a permanent basis, following his interim role that began in November 2024. Sanghi, who previously led the company for nearly 30 years before retiring in 2021, will also maintain his position as Chair of the Board.
The announcement marks a significant step in stabilizing Microchip's leadership as the company undertakes a comprehensive recovery plan. Lead independent director Matthew Chapman highlighted the Board's confidence in Sanghi's leadership and his successful implementation of strategies aimed at restoring Microchip's industry-leading position. While some elements of the recovery plan have already been completed, Sanghi emphasized that achieving the company's long-term operational goals requires continued efforts.
With over 30 years of history at Microchip, Sanghi brings crucial experience and strategic vision, which the board believes is essential for the company's success. He acknowledged the challenges ahead and expressed his commitment to guiding Microchip through its recovery phase, reassuring major customers and partners about the company's stability and strategic direction. Microchip, serving approximately 109,000 customers across various sectors, relies on this leadership continuity to maintain customer confidence and execute long-term initiatives efficiently.
Microchip Technology, headquartered in Chandler, Arizona, is a leading provider of smart, connected, and secure embedded control solutions, catering to industries such as industrial, automotive, consumer, aerospace, defense, communications, and computing.
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