PRAGMATIC SEMICONDUCTOR APPOINTS PETER HERWECK AS CHAIR TO BOARD OF DIRECTORS

Rhea-AI Summary

Pragmatic Semiconductor (TER) appointed Peter Herweck as Chair of the Board effective Oct 7, 2025, succeeding Erik Langaker who will remain a director through Oct 31, 2025.

Herweck brings 40+ years of global technology and industrial automation leadership, including roles as CEO of Schneider Electric and AVEVA and senior positions at Siemens. The company highlighted recent milestones under Langaker, including a $231m Series D round and expansion of global manufacturing to commercialize its FlexIC flexible integrated circuit technology.

Positive

• Appointed Peter Herweck as Chair effective Oct 7, 2025
• Herweck brings 40+ years of industrial tech leadership
• Completed a $231m Series D funding round
• Expansion of global manufacturing footprint for FlexIC commercialization
• Pragmatic FlexIC foundry offers sustainable production and resilience

Negative

• None.

News Market Reaction

-5.23%

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-5.23% News Effect

On the day this news was published, TER declined 5.23%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Industrial technology veteran joins the FlexIC technology pioneer enabling item-level intelligence at scale that bridges our physical and digital worlds for a sustainable future.

CAMBRIDGE, England, Oct. 7, 2025 /PRNewswire/ -- Pragmatic Semiconductor Ltd. today announced the appointment of Peter Herweck as Chair to its Board of Directors, effective immediately. Herweck succeeds Erik Langaker, who has served as Chair since 2020 and transitions from his role after five years of leadership and invaluable service.

Herweck is a highly experienced global executive and board member with more than four decades in technology, industrial automation and advanced manufacturing. Most recently, he served as Chief Executive Officer of Schneider Electric SE where he led the strategic transformation of the business, and harnessed opportunities unlocked by megatrends such as digitization, electrification, and sustainability to achieve record growth.

Herweck's prior roles include Chief Executive Officer of AVEVA plc, a FTSE 100 industrial software leader, where he spearheaded the transition to cloud-first SaaS models and oversaw the landmark acquisition of OSIsoft. Earlier in his career, he held senior leadership positions at Siemens AG, including Chief Executive of the Process Industries and Drives Division, leading industrial automation technology and manufacturing on a global scale, and also served as Chief Strategy Officer of the group, shaping the company's digitization and portfolio strategy. Herweck is also a long-standing non-executive director of Teradyne Inc. (NASDAQ: TER) a global leader of semiconductor test equipment and industrial automation, and has a wealth of global experience having lived and worked in Germany, China, Japan, Switzerland, and the US.

The board would like to take this opportunity to thank Langaker for his invaluable leadership and extensive contributions. During his tenure as Chair, he oversaw a period of significant growth and transformation including the company's Series C round and subsequent $231m Series D funding round - Europe's largest ever venture raise for a semiconductor business – and the expansion of the company's global manufacturing footprint and commercialisation of its pioneering flexible integrated circuit (FlexIC) technology. Langaker will remain a director of the company through October 31, 2025, and support the transition of the Chair role to Herweck.

David Moore, CEO, Pragmatic Semiconductor, said: "I am thrilled to welcome Peter as our new Chair. His extensive global leadership and experience across industrial automation, advanced technology and manufacturing make him perfectly positioned to support Pragmatic's tremendous growth as we scale our unique FlexIC technology to accelerate the growth and success of our global customers and positively impact peoples' lives and our planet. Personally, and on behalf of the leadership team and the entire company, I want to thank Erik for his dedicated service as Chair. His stewardship and support have been instrumental in guiding Pragmatic from an early-stage technology innovator into a scaling semiconductor leader."

Peter Herweck, Chair of the Board, Pragmatic Semiconductor, said: "I am excited to join Pragmatic's Board and support the company's growth journey, scaling item-level intelligence to the trillions. It is my great honour to contribute my passion for technology paired with industrial experience as we grow. I thank Erik, the Board, and David for their trust."

Erik Langaker, Former Chair of the Board, Pragmatic Semiconductor, said: "It has been an extraordinary privilege to witness the company's journey, from raw technology to designing and manufacturing commercial products at scale. I want to express my sincere thanks to our shareholders, the Board, and, not least, David and his team for making my time with the company so rewarding. I am truly honoured that someone of Peter's calibre will take on the role of Chair as we embark on the next stage of growth."

About Pragmatic Semiconductor

Pragmatic Semiconductor is pioneering flexible semiconductor technology at scale to sustainably bridge the digital and physical worlds. With optimised, purpose-led design and sustainable innovation at its core, Pragmatic designs and manufactures flexible integrated circuits (FlexICs) – ultra-thin, flexible form factor semiconductors.

Pragmatic's products, FlexIC platforms and foundry services empower customers to deliver flexible innovation with connect, sense and compute capabilities, enabling sustainable edge and item-level intelligence at scale and speed. The Pragmatic FlexIC Foundry operates a unique and innovative process offering sustainable production and rapid innovation cycle times, coupled with a pathway to supply chain resilience.

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SOURCE Pragmatic Semiconductor Ltd.

FAQ

Who is the new Chair of Pragmatic Semiconductor (TER) and when did the appointment take effect?

Peter Herweck was appointed Chair, effective October 7, 2025.

What is Peter Herweck's background relevant to Pragmatic Semiconductor (TER)?

Herweck has 40+ years in technology and manufacturing, including CEO roles at Schneider Electric and AVEVA, and senior roles at Siemens.

Will former Chair Erik Langaker remain with Pragmatic Semiconductor (TER)?

Yes. Erik Langaker will remain a director through October 31, 2025 to support the leadership transition.

Did Pragmatic Semiconductor (TER) recently raise funding tied to growth?

Yes. The company completed a $231 million Series D funding round during Langaker's tenure.

How might the leadership change affect Pragmatic's FlexIC commercialization timeline?

The company positions the appointment to support scaling and commercialization of FlexICs, citing Herweck's industrial and global scaling experience.

What operational capabilities does Pragmatic highlight after the management change?

Pragmatic notes an expanded global manufacturing footprint and a FlexIC foundry offering sustainable production and rapid innovation cycles.