Steve Sanghi to Continue as Microchip CEO and President on a Permanent Basis
Microchip Technology (NASDAQ: MCHP) announced that Steve Sanghi will continue as permanent CEO and President, transitioning from his interim role that began in November 2024. Sanghi, who previously served as CEO for nearly 30 years before retiring in 2021, will also maintain his position as Chair of the Board.
Lead independent director Matthew Chapman expressed the Board's confidence in Sanghi's leadership, particularly noting his implementation of a recovery plan aimed at restoring Microchip's industry leadership position. Sanghi acknowledged that while several recovery plan elements have been completed, achieving the company's long-term operating model will require sustained efforts.
Microchip Technology (NASDAQ: MCHP) ha annunciato che Steve Sanghi continuerà a ricoprire il ruolo di CEO e Presidente a tempo indeterminato, passando dalla sua posizione ad interim iniziata a novembre 2024. Sanghi, che in precedenza ha ricoperto la carica di CEO per quasi 30 anni prima di andare in pensione nel 2021, manterrà anche il ruolo di Presidente del Consiglio di Amministrazione.
Il direttore indipendente principale, Matthew Chapman, ha espresso la fiducia del Consiglio nella leadership di Sanghi, sottolineando in particolare la sua attuazione di un piano di recupero volto a ristabilire la posizione di leadership di Microchip nel settore. Sanghi ha riconosciuto che, sebbene diversi elementi del piano di recupero siano stati completati, il raggiungimento del modello operativo a lungo termine dell'azienda richiederà sforzi continui.
Microchip Technology (NASDAQ: MCHP) anunció que Steve Sanghi continuará como CEO y Presidente permanente, pasando de su rol interino que comenzó en noviembre de 2024. Sanghi, quien previamente fue CEO durante casi 30 años antes de retirarse en 2021, también mantendrá su puesto como Presidente del Consejo.
El director independiente principal, Matthew Chapman, expresó la confianza de la Junta en el liderazgo de Sanghi, destacando especialmente su implementación de un plan de recuperación para restaurar la posición de liderazgo de Microchip en la industria. Sanghi reconoció que, aunque varios elementos del plan de recuperación se han completado, alcanzar el modelo operativo a largo plazo de la empresa requerirá esfuerzos sostenidos.
마이크로칩 테크놀로지(NASDAQ: MCHP)는 스티브 생히가 2024년 11월부터 임시 CEO 역할을 맡은 후 정식 CEO 겸 사장으로 계속 임명될 것이라고 발표했습니다. 생히는 2021년 은퇴 전 거의 30년간 CEO를 역임했으며, 이사회 의장직도 유지할 예정입니다.
수석 독립 이사 매튜 채프먼은 생히의 리더십에 대한 이사회의 신뢰를 표명하며, 특히 마이크로칩의 업계 리더십 회복을 목표로 한 회복 계획 실행을 주목했습니다. 생히는 회복 계획의 여러 요소가 완료되었지만, 회사의 장기 운영 모델 달성을 위해서는 지속적인 노력이 필요하다고 인정했습니다.
Microchip Technology (NASDAQ : MCHP) a annoncé que Steve Sanghi continuera en tant que PDG et Président permanent, passant de son rôle intérimaire commencé en novembre 2024. Sanghi, qui a précédemment été PDG pendant près de 30 ans avant de prendre sa retraite en 2021, conservera également son poste de Président du Conseil d'administration.
Le directeur indépendant principal, Matthew Chapman, a exprimé la confiance du Conseil dans le leadership de Sanghi, soulignant notamment sa mise en œuvre d’un plan de redressement visant à restaurer la position de leader de Microchip dans l’industrie. Sanghi a reconnu que bien que plusieurs éléments du plan de redressement aient été achevés, atteindre le modèle opérationnel à long terme de l’entreprise nécessitera des efforts soutenus.
Microchip Technology (NASDAQ: MCHP) gab bekannt, dass Steve Sanghi weiterhin als dauerhafter CEO und Präsident fungieren wird und damit von seiner interimistischen Rolle, die im November 2024 begann, übergeht. Sanghi, der zuvor fast 30 Jahre lang CEO war, bevor er 2021 in den Ruhestand ging, wird auch seine Position als Vorstandsvorsitzender beibehalten.
Der leitende unabhängige Direktor Matthew Chapman äußerte das Vertrauen des Vorstands in Sanghis Führung, insbesondere hob er dessen Umsetzung eines Wiederherstellungsplans hervor, der darauf abzielt, Microchips Branchenführerschaft wiederherzustellen. Sanghi räumte ein, dass zwar mehrere Elemente des Wiederherstellungsplans abgeschlossen sind, das Erreichen des langfristigen Betriebsmodells des Unternehmens jedoch anhaltende Anstrengungen erfordern wird.
- Return of experienced leadership with Steve Sanghi, who successfully led the company for 30 years
- Recovery plan already showing progress with several elements completed
- Stability in leadership transition from interim to permanent role
- Company still requires significant recovery efforts to achieve long-term operating model
- Return of former CEO suggests potential challenges in developing new leadership
Insights
Steve Sanghi's permanent return as CEO signals stability and continuity in Microchip's recovery strategy.
The announcement of Steve Sanghi's permanent appointment as CEO and President of Microchip represents a significant leadership stabilization move. Sanghi, who previously led the company for nearly 30 years before retiring in 2021, had stepped back in as interim CEO in November 2024. His decision to remain permanently provides crucial continuity during Microchip's ongoing recovery efforts.
Sanghi's extensive history with the company—spanning three decades—brings unparalleled institutional knowledge and industry expertise. The board's decision signals strong confidence in his recovery plan, which he has already begun implementing during his interim tenure. This announcement provides strategic clarity and removes uncertainty about Microchip's leadership direction.
What's particularly noteworthy is Sanghi's acknowledgment that while several recovery initiatives have been completed, achieving the company's long-term operating model will require "sustained efforts." This suggests he's committed to a multi-year leadership role focused on fully executing the turnaround strategy. The company's reference to a "recovery plan" indicates Microchip has been facing challenges requiring significant operational changes.
For a company serving approximately 109,000 customers across diverse sectors including industrial, automotive, and defense, leadership stability is essential for maintaining customer confidence and executing long-term strategic initiatives. Sanghi's permanent return likely reassures major customers and partners about Microchip's strategic direction and organizational stability.
Mr. Sanghi Has Been Serving in Such Roles on an Interim Basis Since November 2024
CHANDLER, Ariz., July 02, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that Steve Sanghi has agreed to continue to serve as the company’s Chief Executive Officer and President on a permanent basis. Mr. Sanghi had been serving in such roles on an interim basis since November 2024. Mr. Sanghi will also continue to serve as Chair of the Microchip Board of Directors. Prior to his retirement as Microchip’s CEO in 2021, Mr. Sanghi had served as Microchip’s CEO for almost 30 years.
Microchip’s lead independent director, Matthew Chapman, stated that “The Board is delighted that Steve has agreed to continue as CEO and President on a permanent basis. Since he assumed such roles on an interim basis, he has taken decisive action to design and implement a recovery plan to restore Microchip to its leadership position in the industry. The Board believes that Steve is the best person to lead the company on a long-term basis to further execute on its objectives.”
Mr. Sanghi commented, “I have been a leader of Microchip for over 30 years and look forward to continuing to serve the company on a long-term basis. Although several of the elements of our recovery plan have been completed or substantially implemented, some of the other elements of the plan, such as achieving our long-term operating model, will require sustained efforts. I am thankful that the Board is entrusting me to continue to guide the company towards achievement of its 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 109,000 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.
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