Microchip Technology (NASDAQ: MCHP) COO exits to lead Menlo Microsystems
Rhea-AI Filing Summary
Microchip Technology Incorporated reported that Chief Operating Officer Richard J. Simoncic has notified the company of his resignation. The notice was given on July 23, 2026, and his resignation will be effective August 17, 2026.
Simoncic is leaving to become Chief Executive Officer of Menlo Microsystems, Inc., a private company headquartered in Irvine, California. The update relates to the departure of a key executive officer overseeing operations at Microchip Technology.
Positive
- None.
Negative
- COO resignation effective August 17, 2026 removes a long-serving senior operating executive from Microchip Technology’s leadership team, creating near-term management transition risk.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Resignation notice date: July 23, 2026
Resignation effective date: August 17, 2026
Series A preferred dividend rate: 7.50%
+1 more
4 metrics
Resignation notice date
July 23, 2026
Date Richard J. Simoncic informed Microchip Technology of his resignation as COO
Resignation effective date
August 17, 2026
Effective date of Chief Operating Officer Richard J. Simoncic’s departure
Series A preferred dividend rate
7.50%
Dividend rate on Series A Mandatory Convertible Preferred Stock listed on Nasdaq
Common stock par value
$0.001 per share
Par value of Microchip Technology common stock registered on Nasdaq Global Select Market
Key Terms
Mandatory Convertible Preferred Stock, Depositary Shares, Emerging growth company
3 terms
Mandatory Convertible Preferred Stock financial
"7.50% Series A Mandatory Convertible Preferred Stock $0.001 par value"
A mandatory convertible preferred stock is a type of investment that pays regular income like a preferred share but is designed to automatically turn into a set number of common shares at a future date, much like a timed coupon that becomes company ownership. It matters to investors because it combines a near-term income stream with a guaranteed future increase in the company’s share count, which can dilute existing owners and change earnings-per-share and voting balance.
Emerging growth company regulatory
"Indicate by check mark 405) or Rule 12b-2 ... Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What executive change did Microchip Technology (MCHP) disclose?
Microchip Technology disclosed that Chief Operating Officer Richard J. Simoncic is resigning. His departure removes a senior operating leader from the management team and represents a notable change in the company’s executive leadership structure.
When is the Microchip Technology (MCHP) COO resignation effective?
The resignation of COO Richard J. Simoncic is effective August 17, 2026. Until that date he remains with Microchip Technology, after which he will transition fully to his new chief executive role.
When did Richard J. Simoncic notify Microchip Technology (MCHP) of his resignation?
Richard J. Simoncic notified Microchip Technology of his decision to resign on July 23, 2026. This advance notice provides a several-week window for the company to manage succession and related leadership transition activities.
Why is Microchip Technology (MCHP) COO Richard J. Simoncic leaving the company?
Richard J. Simoncic is resigning from Microchip Technology to become Chief Executive Officer of Menlo Microsystems, Inc.. Menlo Microsystems is described as a private company headquartered in Irvine, California, where he will assume the top leadership role.
What company will former Microchip Technology (MCHP) COO Richard J. Simoncic lead?
After leaving Microchip Technology, Richard J. Simoncic will become CEO of Menlo Microsystems, Inc.. The new employer is identified as a private company based in Irvine, California, marking a move from COO to chief executive responsibilities.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
(Exact Name Of Registrant As Specified In Its Charter) | ||
| (State Or Other Jurisdiction Of Incorporation) | (Commission File No.) | (IRS Employer Identification No.) | ||||||
(Address Of Principal Executive Offices, Including Zip Code)
(480 ) 792-7200
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||
| (Nasdaq Global Select Market) | ||||||||
| (Nasdaq Global Select Market) | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 23, 2026, Richard J. Simoncic, Chief Operating Officer of Microchip Technology Incorporated (the "Company"), notified the Company that he was resigning from the Company effective August 17, 2026 to become Chief Executive Officer of Menlo Microsystems, Inc., a private company headquartered in Irvine, California.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MICROCHIP TECHNOLOGY INCORPORATED | |||||
| Date: July 24, 2026 | By: /s/ J. Eric Bjornholt | ||||
| J. Eric Bjornholt | |||||
| Senior Corporate Vice President and Chief Financial Officer | |||||