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SkyWater Expands Board of Directors with Appointment of Nancy Fares and Amy Leong
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
SkyWater Technology (NASDAQ: SKYT) has appointed two new board members, Nancy Fares and Amy Leong, effective January 3, 2022, bringing the board total to eight. Ms. Fares, a former vice president at Qualcomm, holds extensive experience in the semiconductor industry. Ms. Leong has served in multiple high-level positions at FormFactor, enhancing her expertise in marketing and growth. Their appointments aim to strengthen SkyWater's leadership as the company capitalizes on emerging opportunities in the semiconductor market.
Positive
Appointment of experienced board members enhances leadership.
Nancy Fares and Amy Leong bring decades of semiconductor expertise.
Board expansion aligns with company growth strategy.
Negative
Potential concerns about continuity with new board members.
Leading semiconductor executives bring industry expertise and unique skills to rapidly scaling U.S. chip manufacturer
BLOOMINGTON, Minn.--(BUSINESS WIRE)--
SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced the appointment of two new members to its board of directors: Nancy Fares and Amy Leong, effective January 3, 2022 for a term expiring at the company’s 2022 Annual Meeting of Stockholders. These appointments bring SkyWater’s total board membership to eight.
Ms. Fares has served as a strategic advisor and board member with Olarm, an application-based home security provider since July 2018. Ms. Fares previously served as vice president software product management at Qualcomm, Inc. from August 2016 to December 2018. Prior to joining Qualcomm, Ms. Fares held senior leadership positions at NXP Semiconductors N.V., Foravest, LLC, Micralyne Inc. and Texas Instruments Incorporated. Ms. Fares holds a Bachelor of Science degree in electrical engineering from the University of Texas at Dallas, a Master of Science degree in telecommunications from Southern Methodist University and an Executive Master of Business Administration from the University of Texas at Austin.
Ms. Leong has served as the senior vice president, chief marketing officer, mergers and acquisitions, and general manager of emerging growth business unit of FormFactor, Inc. since November 2017, having previously served as senior vice president, marketing and customer solutions since October 2012 and as vice president, marketing for MicroProbe Inc. before its acquisition by FormFactor. Prior to MicroProbe, Ms. Leong worked in a variety of semiconductor process engineering and technologist roles at Gartner, KLA Corporation and IBM. Ms. Leong has served as an advisory board member of International Semiconductor Executive Summits since 2016 and as a director of Simple Steps Community Connection, a nonprofit organization supporting women leadership initiatives, since 2020. Ms. Leong received a Bachelor of Science degree chemical engineering from the University of California at Berkley and a Master of Science degree in materials science and engineering from Stanford University.
"We are pleased to welcome such high impact individuals to our board of directors," said Gary Obermiller, chairman of the board. "They bring decades of leadership and experience in key areas of opportunity for SkyWater. Their appointments increase the breadth of knowledge and expertise of our board."
"This is an exciting time for SkyWater as we pursue the many opportunities we see before us," said Thomas Sonderman, president and CEO. "These new members of the board each bring a distinctive set of skills to SkyWater that will benefit the company as we continue to position our organization for the future."
About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S.-owned semiconductor manufacturer and a DOD-accredited Trusted supplier. SkyWater’s Technology as a ServiceSM model streamlines the path to production for customers with development services, volume production and advanced packaging solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, read-out ICs, rad-hard, power discretes, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.
SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to factors discussed in the “Risk Factors” section of the prospectus the Company filed with the SEC on April 22, 2021, its quarterly report on Form 10-Q for the quarter ended October 3, 2021 and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.
What are the new appointments at SkyWater Technology?
SkyWater Technology appointed Nancy Fares and Amy Leong to its board of directors, effective January 3, 2022.
What experience do Nancy Fares and Amy Leong bring to SkyWater?
Nancy Fares has experience from Qualcomm and other firms, while Amy Leong has a strong background in marketing and business development from FormFactor.
How many members are on the SkyWater Technology board now?
The board now has a total of eight members following the recent appointments.
What is the significance of these appointments for SkyWater Technology?
The new board members are expected to strengthen leadership and support SkyWater's growth in the semiconductor industry.
