Sequans Announces Changes to Board of Directors

Rhea-AI Summary

Sequans Communications (NYSE: SQNS) announced shareholder approval for Dr. Sailesh Chittipeddi to join its board of directors effective June 24, 2022. Chittipeddi, previously with Renesas Electronics, brings extensive experience in IoT and semiconductor technology, holding numerous patents and degrees. He replaces Alok Sharma, who stepped down after over a decade of service. Dr. Chittipeddi expressed enthusiasm about strengthening the partnership between Sequans and Renesas through his board role, emphasizing mutual success.

Positive

• Dr. Sailesh Chittipeddi brings significant experience in IoT and semiconductor technology.
• His role on the board may enhance collaboration between Sequans and Renesas.

Negative

• Alok Sharma's departure could lead to potential continuity concerns for the board.

PARIS, June 30, 2022 /PRNewswire/ -- Sequans Communications S.A. (NYSE: SQNS), a leading developer and provider of 5G and 4G solutions for broadband, critical, and massive IoT, announced today the shareholder approval of Dr. Sailesh Chittipeddi to its board of directors, effective June 24, 2022.

"We are pleased to welcome Sailesh to our Board and look forward to his contributions and criticality of thought, given his expertise in IoT as a senior-level executive of Renesas," stated Georges Karam, Sequans President and Chief Executive Officer.

Dr. Sailesh Chittipeddi has served as Executive Vice President and General Manager of the IoT and Infrastructure Business Unit of Renesas Electronics Corporation since July 2019. Before joining Renesas, he served as Executive Vice President of Global Operations and Chief Technology Officer for IDT Corporation. Prior to IDT, Dr. Chittipeddi was President and CEO of Conexant Systems and served on its Board of Directors. At Conexant, he led the company in its transition from a public company to private ownership and through its debt restructuring efforts. Dr. Chittipeddi holds five degrees, including an M.B.A from the University of Texas at Austin and a Ph.D. in physics from The Ohio State University. Dr. Chittipeddi has earned 64 U.S. patents related to a semiconductor process, package, and design and has been published in nearly 40 technical articles.

"I am delighted to join the Sequans Board of Directors," said Dr. Chittipeddi. "Through our mutually beneficial partnership, Renesas has fostered a strong relationship with Sequans in product collaborations and, more recently, as shareholders. My position on the board of directors will further both companies' commitment to our mutual success."

Dr. Chittipeddi will replace the seat vacated by Alok Sharma, who has stepped down from the board. Mr. Sharma joined the board in 2011.

Mr. Karam stated: "On behalf of Sequans, I thank Alok for his years of service and valuable contributions to the Company. We wish him the best in his future endeavors."

About Sequans

Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China. Visit Sequans online at www.sequans.com, and follow us on Twitter and Linked In.

Media Relations: Kimberly Tassin, +1.425.736.0569, Kimberly@sequans.com
Investor Relations: Kim Rogers, Hayden IR, +1 385.831.7337, Kim@haydenir.com

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SOURCE Sequans Communications

FAQ

Who is Dr. Sailesh Chittipeddi and what experience does he have?

Dr. Sailesh Chittipeddi is a seasoned executive with extensive experience in IoT, previously serving as EVP and GM at Renesas Electronics.

What does Dr. Chittipeddi's appointment mean for Sequans?

His appointment could strengthen Sequans' strategic partnership with Renesas and enhance its board expertise.

Why did Alok Sharma step down from Sequans' board?

Alok Sharma stepped down after over ten years of service, as noted by the company's president.

When did the shareholder approval for Dr. Chittipeddi occur?

The shareholder approval for Dr. Chittipeddi was effective June 24, 2022.

How might Dr. Chittipeddi's expertise benefit Sequans?

Dr. Chittipeddi's expertise in IoT and semiconductors may provide crucial insights and direction for Sequans' future developments.