Steve Sanghi to Continue as Microchip CEO and President on a Permanent Basis

Core Viewpoint - Microchip Technology Incorporated has appointed Steve Sanghi as the permanent Chief Executive Officer and President, after serving in an interim capacity since November 2024 [1][2]. Group 1: Leadership Changes - Steve Sanghi has been with Microchip for over 30 years and previously served as CEO until 2021 [1][2]. - The Board of Directors expressed confidence in Sanghi's leadership, highlighting his decisive actions in implementing a recovery plan to restore the company's industry leadership [2]. Group 2: Recovery Plan - Sanghi noted that while several elements of the recovery plan have been completed or substantially implemented, achieving the long-term operating model will require ongoing efforts [2]. Group 3: Company Overview - Microchip Technology is a leading provider of smart, connected, and secure embedded control solutions, serving approximately 109,000 customers across various markets including industrial, automotive, consumer, aerospace, defense, communications, and computing [3]. - The company is headquartered in Chandler, Arizona, and offers comprehensive product portfolios and development tools to reduce risk and lower total system costs [3].