Everspin Announces Resignation of Chief Financial Officer

Rhea-AI Summary

Everspin Technologies, Inc. (NASDAQ: MRAM) announced the resignation of Chief Financial Officer Daniel Berenbaum, effective April 16, 2021. Berenbaum is leaving to pursue another opportunity overseas. Following his departure, Aparna Oka will serve as the interim principal financial officer and principal accounting officer. Oka currently holds the position of Corporate Controller at Everspin. The company expressed gratitude for Berenbaum's contributions and is now looking for a permanent CFO.

Positive

• Aparna Oka's appointment as interim CFO may provide continuity in financial operations.
• The company is actively seeking a new CFO, which may lead to fresh perspectives in leadership.

Negative

• The departure of a CFO could raise concerns about financial stability during the transition.
• There may be a gap in leadership experience until a permanent CFO is found.

Everspin Technologies, Inc. (NASDAQ: MRAM), the market leader in MRAM, today announced that Daniel Berenbaum has notified the company of his decision to resign as Chief Financial Officer to pursue another opportunity overseas. Mr. Berenbaum’s last day with the company is expected to be on April 16, 2021.

“We would like to thank Dan for his contributions to the company and wish him well in his future endeavors,” said Darin Billerbeck, Interim Chief Executive Officer of Everspin.

In connection with Mr. Berenbaum’s resignation, the company has appointed Aparna Oka to serve as the company’s principal financial officer and principal accounting officer on an interim basis, effective April 16, 2021, while the company conducts a search for its next Chief Financial Officer. Ms. Oka currently serves as Corporate Controller of Everspin.

About Everspin Technologies

Everspin Technologies, Inc. is the world’s leading provider of Magnetoresistive RAM (MRAM). Everspin MRAM delivers the industry’s most robust, highest performance non-volatile memory for Industrial IoT, Data Center, and other mission-critical applications where data persistence is paramount. Headquartered in Chandler, Arizona, Everspin provides commercially available MRAM solutions to a large and diverse customer base. For more information, visit www.everspin.com. NASDAQ: MRAM

View source version on businesswire.com: https://www.businesswire.com/news/home/20210401005927/en/

FAQ

Who is the new interim CFO of Everspin Technologies?

Aparna Oka has been appointed as the interim Chief Financial Officer and principal accounting officer.

Why did Daniel Berenbaum resign from Everspin Technologies?

Daniel Berenbaum resigned to pursue another opportunity overseas.

When will Daniel Berenbaum's last day at Everspin Technologies be?

His last day is expected to be April 16, 2021.

What is the expected impact of the CFO resignation on Everspin Technologies?

The resignation may raise concerns about financial stability until a new CFO is appointed.

What role does Aparna Oka currently hold at Everspin Technologies?

Aparna Oka is currently the Corporate Controller before taking on the interim CFO role.