MACOM Announces Appointment of Jihye Whang Rosenband to its Board of Directors and Retirement of Board Member Gil VanLunsen

Rhea-AI Summary

MACOM Technology Solutions Holdings (NASDAQ: MTSI) has appointed Jihye Whang Rosenband as an independent director, effective September 8, 2022. Rosenband brings over 20 years of semiconductor experience, having held various roles including CEO of SPGL Acquisition Corporation. Concurrently, independent director Gil VanLunsen will retire from the Board on January 31, 2023, after 12 years of service. Chairman John Ocampo praised VanLunsen's contributions to MACOM’s growth and stockholder value.

Positive

• Appointment of Jihye Whang Rosenband adds over 20 years of semiconductor experience to the Board.
• Rosenband's extensive background in technology may enhance strategic decision-making.
• Gil VanLunsen's long tenure indicates stability in Board leadership.

Negative

• Retirement of Gil VanLunsen may create an experience gap on the Board.

LOWELL, Mass.--(BUSINESS WIRE)-- MACOM Technology Solutions Holdings, Inc. (“MACOM”) (NASDAQ: MTSI), a leading supplier of semiconductor products, today announced the appointment of Jihye Whang Rosenband, age 45, as an independent director to MACOM’s Board of Directors (the “Board”), effective September 8, 2022. Ms. Rosenband will serve on the Audit and Nominating and Governance Committees of the Board.

Ms. Rosenband brings to MACOM’s Board over 20 years of semiconductor and technology industry experience in various advisory, management and engineering roles. Most recently, Ms. Rosenband was Chief Executive Officer of SPGL Acquisition Corporation. She has been an independent advisor to various companies in the semiconductor and information technology sectors since 2017. Earlier in her career, Ms. Rosenband served in various corporate strategy, business development and engineering roles at HPE Aruba Networks, RPX Corporation, MACOM and Hittite Microwave Corporation. She holds a B.S. and M. Eng. in Electrical Science and Engineering from Massachusetts Institute of Technology and an MBA from Stanford University. Ms. Rosenband’s appointment is the culmination of a search process led by the Nominating and Governance Committee of the Board, which involved over a dozen potential candidates.

“On behalf of the entire MACOM Board of Directors, I am pleased to welcome Jihye to our Board,” said John Ocampo, MACOM’s Chairman of the Board. “Jihye has outstanding business acumen and her extensive experience in compound semiconductors, as well as in the hardware and information technology industries, will greatly benefit our Board. She has an established track record of success at both management and executive levels, and we look forward to her future contributions.”

MACOM also announced that independent Director Gil VanLunsen will be retiring from MACOM’s Board, effective January 31, 2023. Mr. VanLunsen has served as a Director on MACOM’s Board since August 2010. During his twelve year tenure, Mr. VanLunsen has provided invaluable leadership and insights on accounting, financial and governance matters.

“I would like to express my sincere gratitude and thanks to Gil for his many contributions to MACOM and I congratulate him on his distinguished career,” said Mr. Ocampo. “Gil’s leadership and steady guidance have been instrumental to our growth and to the creation of stockholder value. We wish Gil all the best on his upcoming retirement.”

About MACOM

MACOM designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts. To learn more visit www.macom.com.

Special Note Regarding Forward-Looking Statements

This press release contains forward-looking statements based on MACOM management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include, among others, statements about MACOM’s strategic plans and priorities, information concerning Ms. Rosenband’s expertise and expected future contributions to MACOM’s Board and Mr. VanLunsen’s and the Board’s contributions to MACOM’s growth and the creation of stockholder value.

These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including any failure to anticipate demand for our products; risks related to any weakening of economic conditions, including as a result of the COVID-19 pandemic; our dependence on a limited number of customers; our ability to develop new products and achieve market acceptance of those products; component shortages or other disruptions in our supply chain, including as a result of the COVID-19 pandemic; and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220912005295/en/

MACOM Technology Solutions Holdings, Inc.

Stephen Ferranti

Vice President, Strategic Initiatives and Investor Relations

P: 978-656-2977

E: stephen.ferranti@macom.com

Source: MACOM Technology Solutions Holdings, Inc.

FAQ

What is the significance of Jihye Whang Rosenband's appointment to MACOM's Board?

Jihye Whang Rosenband's appointment enhances MACOM's Board with her extensive semiconductor experience, which is expected to contribute positively to strategic decisions.

When will Gil VanLunsen retire from MACOM's Board?

Gil VanLunsen will retire on January 31, 2023, after serving on MACOM's Board since August 2010.

How might the management changes impact MACOM's future?

The addition of Rosenband may strengthen leadership and oversight, while VanLunsen's retirement could present challenges due to experience loss.

What committees will Jihye Whang Rosenband serve on at MACOM?

Jihye Whang Rosenband will serve on the Audit and Nominating and Governance Committees.