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Navitas Semiconductor Announces Corporate Governance Enhancements
Richard Hendrix Appointed Chair of the Board Executive Steering Committee Formed to Advance Growth Strategy TORRANCE, Calif., April 24, 2025 (GLOBE NEWSWIRE)
About this update from Navitas Semiconductor Corporation
[{"type":"text","content":"Richard Hendrix Appointed Chair of the Board Executive Steering Committee Formed to Advance Growth Strategy TORRANCE, Calif., April 24, 2025 (GLOBE NEWSWIRE) -- Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, today announced actions by its board of directors to advance the company’s growth strategy. These corporate governance enhancements reflect the board’s ongoing commitment to stockholder engagement and value creation for all Navitas stakeholders. “We have taken an important step forward by strengthening our corporate governance and further aligning the board’s interests with those of our stockholders,” said Gene Sheridan, Navitas’ chief executive officer and co-founder. “We are confident that we have the right strategy in place to continue delivering disruptive advancements in our target markets. With the updates announced today, our board and leadership team are well positioned to capitalize on Navitas’ multi-billion dollar market opportunities and generate value.” Board and Leadership Updates Navitas’ board has appointed Richard Hendrix as its chair, effective immediately. Mr. Hendrix joined Navitas’ board as an independent director in 2021 and is chair of the audit committee and a member of the compensation committee. He has more than 30 years of capital markets leadership and advisory experience. He succeeds Mr. Sheridan, who will remain on the board as a director and continue as Navitas’ chief executive officer. “I am honored to chair Navitas’ board as we work to advance our strategy and continue to enable a revolution in power electronics. Our board remains committed to maintaining strong corporate governance and creating value for our stockholders,” said Mr. Hendrix. Daniel Kinzer, Navitas’ chief technology officer, chief operating officer and co-founder, has resigned from his executive roles and as a member of the board. Mr. Kinzer will continue to serve in an advisory role supporting technology and product innovation in the area of GaN technology. Mr. Hendrix continued, “On behalf of the Board, I would like to thank Dan for his invaluable vision and leadership in building Navitas into the only pure-play, next-generation power semiconductor company. We appreciate his conti...