Microchip Technology Appoints Victor Peng to Its Board of Directors
Rhea-AI Summary
Microchip Technology has announced the appointment of Victor Peng to its Board of Directors, effective February 10, 2024. Peng, the former President of Advanced Micro Devices (AMD), brings over 40 years of industry experience to the role. His extensive background includes serving as president, CEO, and board member at Xilinx for 14 years (2008-2022) before joining AMD, where he worked until his retirement in 2024.
Peng currently serves on the board of KLA since February 2019. Microchip's President and CEO, Steve Sanghi, highlighted Peng's valuable experience in technology, strategy, and operations, particularly noting his knowledge of the semiconductor industry as an asset to the board.
Positive
- Addition of seasoned semiconductor industry executive with 40+ years experience
- Strategic expertise from leadership roles at major companies (AMD, Xilinx)
- Brings complementary board experience from KLA
Negative
- None.
News Market Reaction
On the day this news was published, MCHP gained 1.71%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
CHANDLER, Ariz., Feb. 04, 2025 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Victor Peng, former President of Advanced Micro Devices, Inc. (AMD), will join the Board of Directors of Microchip effective February10, 2024.
Regarding Mr. Peng’s appointment to the board, Microchip’s President and CEO, Steve Sanghi, said, “Victor most recently served as the President of AMD, a publicly held company that designs and manufactures hardware for high-performance computing. Prior to that, he served Xilinx for 14 years, most recently holding roles of president, CEO, board member. With over 40 years of industry experience, Victor has held leadership roles of increasing responsibility at Xilinx where he worked from 2008 until 2022, and at AMD from 2022 until his retirement in 2024. He brings years of industry experience in technology, strategy, and operations to Microchip. This knowledge of technology and of the semiconductor industry will be invaluable to our Board. Victor has also served on the board of KLA Corporation (a provider of process control and yield management systems for semiconductor manufacturing) since February 2019. We welcome Victor to our board and look forward to benefitting from his experience.”
Mr. Peng commented, “I am honored to be appointed to the Microchip board. I believe that my industry experience and leadership skills can have a positive impact on the company’s strategic direction and plans. I look forward to working with the Microchip board to achieve the company’s goals”.
About Microchip:
Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 112,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.
The Microchip logo and name are registered trademarks of Microchip Technology Incorporated.
INVESTOR RELATIONS CONTACT:
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FAQ
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