Steve Sanghi Joins Impinj Board of Directors

Rhea-AI Summary

Impinj, a leader in RAIN RFID technology, announced the appointment of Steve Sanghi to its board of directors. Sanghi, a highly experienced executive with a long tenure as CEO and chairman of Microchip Technology, brings strategic insight and operational expertise to the role. Impinj Board Chair Peter van Oppen expressed enthusiasm for Sanghi's wealth of knowledge and leadership skills. Sanghi aims to leverage Impinj's growth potential in the Internet of Things market, emphasizing the company’s strong management and culture.

Positive

• Steve Sanghi's extensive experience from Microchip Technology is expected to enhance Impinj's strategic direction.
• The appointment is anticipated to strengthen the leadership team during a period of growth in the Internet of Things sector.

Negative

• None.

Impinj, Inc. (NASDAQ: PI), a leading RAIN RFID provider and Internet of Things pioneer, today announced that Steve Sanghi has joined its board of directors.

“Steve brings a wealth of knowledge as a long-term CEO and chairman of Microchip Technology, Inc., and I’m thrilled he is joining our board,” said Impinj Board Chair Peter van Oppen.

“Having served with him previously on another public-company board, I know the depth of experience Steve brings in terms of strategy, operations, and leadership,” said fellow Impinj Board Member Umesh Padval.

“Impinj has an outstanding opportunity as an Internet of Things pioneer and to grow its business profitably,” Sanghi commented. “That opportunity, a great management team, and a winning culture are what attracted me to the company. I am excited to join Impinj’s board and look forward to contributing to its success.”

Sanghi was named Executive Chairman of Microchip Technology, Inc. (NASDAQ: MCHP), a leading provider of smart, connected, and secure embedded control solutions, in March 2021 after serving as Microchip’s CEO from 1990 in one of the longest CEO tenures in the semiconductor industry. He was its Chairman since 1993. Under Sanghi’s leadership, Microchip revenue grew to over $5 billion and a market value of approximately $40 billion. Before Microchip, Sanghi held management positions at Waferscale and Intel. He holds a Bachelor of Science in Electronics and Communications from Punjab University and a Master of Science in Electrical and Computer Engineering from the University of Massachusetts.

About Impinj:

Impinj (NASDAQ: PI) helps businesses and people analyze, optimize, and innovate by wirelessly connecting billions of everyday things — such as apparel, automobile parts, luggage, and shipments — to the Internet. The Impinj platform uses RAIN RFID to deliver timely data about these everyday things to business and consumer applications, enabling a boundless Internet of Things. www.impinj.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210322005692/en/

FAQ

What is the significance of Steve Sanghi joining the Impinj board of directors?

Steve Sanghi's appointment brings valuable leadership and strategic insight from his long tenure at Microchip Technology, which could positively impact Impinj's growth.

How might Steve Sanghi's experience influence Impinj's business strategy?

Sanghi's extensive experience in the semiconductor industry may provide Impinj with innovative strategies to capitalize on its opportunities in the Internet of Things sector.

When was Steve Sanghi appointed to the Impinj board?

Steve Sanghi's appointment to the Impinj board was announced in the recent press release, dated March 22, 2021.