Microchip Technology Appoints Rich Simoncic as Chief Operating Officer

Rhea-AI Summary

Microchip Technology Incorporated appoints Rich Simoncic as Chief Operating Officer, aiming to leverage his extensive experience to drive growth and innovation within the company.

CHANDLER, Ariz., April 02, 2024 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) - Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that its Board of Directors has appointed Rich Simoncic as Chief Operating Officer effective today. In this position, Mr. Simoncic will report to Ganesh Moorthy, who will remain President and CEO.

Rich Simoncic joined Microchip as a new college graduate in 1989 and has had progressively increasing product development, operational and business unit responsibilities. He founded the analog business at Microchip in 1998 and has been instrumental in building it to a more than $2 billion annual revenue business through a combination of organic efforts as well as acquisitions. He was promoted to Vice President in 1995, Corporate Vice President in 2001, Senior Vice President in 2019 and Executive Vice President in 2023. He holds a Bachelor’s degree in Electrical Engineering Technology from DeVry Institute of Technology.

“Rich has expanded his role over the last few years, beyond leading our analog businesses, by assisting me with several corporate initiatives, including strategic planning, acquisitions, total system solutions, market megatrends, use of artificial intelligence within Microchip and Investor Relations activities. Going forward, Rich and I will jointly manage the worldwide Microchip enterprise so that we can apply our combined leadership capacity to engage the opportunities and challenges ahead of us,” said Ganesh Moorthy, Microchip’s President and CEO.

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 125,000 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.

Note: The Microchip name and logo are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. Any other trademarks mentioned herein are the property of their respective companies.

INVESTOR RELATIONS CONTACT:

J. Eric Bjornholt -- CFO..... (480) 792-7804

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9434228a-6de3-4202-a929-686b473c1f45

FAQ

Who has been appointed as Chief Operating Officer by Microchip Technology Incorporated?

Rich Simoncic has been appointed as Chief Operating Officer by Microchip Technology Incorporated.

When did Rich Simoncic join Microchip Technology Incorporated?

Rich Simoncic joined Microchip Technology Incorporated as a new college graduate in 1989.

What is Rich Simoncic's educational background?

Rich Simoncic holds a Bachelor’s degree in Electrical Engineering Technology from DeVry Institute of Technology.

Who will Rich Simoncic report to in his new role?

Rich Simoncic will report to Ganesh Moorthy, who will remain President and CEO of Microchip Technology Incorporated.

What are some of the responsibilities Rich Simoncic has had at Microchip Technology Incorporated?

Rich Simoncic has had progressively increasing product development, operational, and business unit responsibilities at Microchip Technology Incorporated.