Everspin Technologies Announces Departure of Chief Financial Officer
Everspin Technologies (NASDAQ: MRAM), a leader in Magnetoresistive Random Access Memory (MRAM) solutions, has announced leadership changes in its finance department. Matthew Tenorio has been appointed as Interim Chief Financial Officer, effective July 18, 2024, replacing Anuj Aggarwal, who is departing on July 26, 2024. Tenorio, who rejoined Everspin in June 2024 as a consultant, brings extensive experience from his previous roles at the company and other tech firms.
The company has initiated a search for a permanent CFO. Despite this transition, Everspin has reiterated its Q2 2024 guidance, expecting results to align with the outlook provided in its May 1, 2024 earnings release. This announcement suggests continuity in financial management and stability in the company's near-term performance expectations.
- Appointment of experienced Matthew Tenorio as Interim CFO
- Q2 2024 results expected to be in line with previous guidance
- Departure of current CFO Anuj Aggarwal
Appoints Matthew Tenorio as Interim Chief Financial Officer; Reiterates Q2 24 Guidance
Tenorio succeeds Anuj Aggarwal, who is leaving Everspin July 26, 2024, to pursue other opportunities. Everspin has initiated a search to identify a permanent CFO.
Tenorio rejoined Everspin in June 2024 as an independent consultant providing services in support of finance operations. He previously served as the Company’s Corporate Controller, and as Interim Chief Financial Officer. Prior to his return to Everspin, Tenorio served as the Director of Finance at Confluent Medical Technologies and as a Plant Controller at Lucid Motors. Tenorio spent more than 19 years at Intel Corporation, serving in various finance management and controller positions, predominantly in the Technology and Manufacturing Group, where he was responsible for financial planning, cost and inventory functions. Prior to Intel, Mr. Tenorio served in finance and engineering positions at Ford Motor Company.
“On behalf of the Board and management team, I want to thank Anuj for his many contributions and dedicated hard work over the past three years,” said Sanjeev Aggarwal, President and Chief Executive Officer. “Anuj has been an integral member of our executive team during his tenure as CFO and we wish him well in his next endeavor.”
The Company currently expects second quarter 2024 results to be in line with the outlook described in its May 1, 2024 earnings release.
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
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Investor Relations
The Blueshirt Group
Monica Gould
212-871-3927
ir@everspin.com
Source: Everspin Technologies, Inc.
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