Semtech Corporation Announces Maheswaran Retirement

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[{"type":"text","content":" CAMARILLO, Calif.--(BUSINESS WIRE)--\nSemtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems and service provider, today announced that Mohan Maheswaran intends to retire from his role as Semtech’s president and chief executive officer after having served in such capacity for 17 years. Mr. Maheswaran has committed to providing 18 months of transition support to the company – continuing in his role as chief executive officer until a to-be-determined date as the company conducts a search for a new chief executive officer, and then continuing in a consulting role with the company for the balance of the 18 months. Mr. Maheswaran is expected to remain a member of Semtech’s board of directors until his retirement as Semtech’s president and chief executive officer.\n\nMr. Maheswaran was appointed Semtech’s chief executive officer in 2006 and has grown the company from approximately $200 million to over $1 billion in annual net revenues while also delivering record gross margin, record operating margin and record earnings through many semiconductor industry cycles. During his tenure as president and chief executive officer, Semtech completed numerous acquisitions, including the most recent acquisition of Sierra Wireless.\n\n“The past 17 years at Semtech have been an incredible journey for me, and I am extremely proud of the numerous accomplishments over that time. We have built a strong company and team with a dynamic, innovative culture and with a portfolio of best-in-class growth engines in some of the most exciting growth markets in the industry. Semtech has now transformed itself, and, as we approach the next phase of growth, the time has come for me to retire and create a smooth transition to our next leader,” said Mr. Maheswaran. “I want to thank all of Semtech’s stockholders, customers, employees, and stakeholders who have enabled Semtech to become such a great company during my tenure.”\n\n“Throughout his 17 years of exceptional leadership, Mohan has been a powerful and transformational CEO for Semtech, navigating the company through numerous challenges over the years, including geopolitical, COVID and other macro-related events, while leading the company through each phase of growth,” said Rock Hankin, Semtech’s chairman of the board. “We are grateful that he will remain with Semtech during our searc...

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