Microchip Technology Announces Addition of Ellen Barker to Its Board Of Directors
22 Janvier 2024 - 10:15PM
Microchip Technology Incorporated, a leading provider of smart,
connected and secure embedded control solutions, today announced
that Ellen Barker, former Senior Vice President and Chief
Information Officer of Texas Instruments (TI), will join the Board
of Directors of Microchip effective February 2, 2024. With this
appointment, Microchip’s Board will be comprised of 8 members, 6 of
whom are independent. Ms. Barker has not yet been appointed to any
committee of the Board.
Commenting on Ellen Barker’s appointment to the board,
Microchip’s Executive Chair, Steve Sanghi, said, “Ms. Barker most
recently served as the Senior Vice President and Chief Information
Officer of Texas Instruments, a publicly held semiconductor
manufacturing company. With over 35 years of industry experience,
Ms. Barker has held leadership roles of increasing prominence at TI
where she worked from 1984 until her retirement in 2021. She brings
years of industry experience in operations, technology, finance,
acquisition integration and cybersecurity to Microchip. This deep
knowledge of the semiconductor industry will be invaluable to our
Board. Ellen also serves on the advisory board of the Alliance of
Technology and Women, a non-profit organization which focuses on
supporting girls and women in technology and increasing the number
of women in leadership. We welcome Ellen to our board and look
forward to benefitting from her contributions and experience.”
Ellen Barker commented, “Microchip’s broad technology product
portfolio and strong business foundation based on culture and
sustainability are a great fit for me. I am impressed by the
company’s leadership team with a passion for driving solid
outcomes. I’m excited to be joining the board and contributing to
Microchip’s strategy and results.”
Cautionary Statement:
The statements in this release relating to being invaluable to
our Board, benefitting from her contributions and experience and
contributing to Microchip’s strategy and results are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that could cause
our actual results to differ materially, including, but not limited
to: any continued uncertainty, fluctuations or weakness in the U.S.
and world economies (including China) due to changes in interest
rates, high inflation or the impact of the COVID-19 pandemic
(including lock-downs in China), actions taken or which may be
taken by the Biden administration or the U.S. Congress, monetary
policy, political, geopolitical, trade or other issues in the U.S.
or internationally (including the military conflicts in
Ukraine-Russia and the Middle East), further changes in demand or
market acceptance of our products and the products of our customers
and our ability to meet any increases in market demand or customer
requests to reschedule or cancel orders; the mix of inventory we
hold, our ability to satisfy any short-term orders from our
inventory and our ability to effectively manage our inventory
levels; the impact that the CHIPS Act will have on increasing
manufacturing capacity in our industry by providing incentives for
us, our competitors and foundries to build new wafer manufacturing
facilities or expand existing facilities; the amount and timing of
any incentives we may receive under the CHIPS Act, the impact of
current and future changes in U.S. corporate tax laws (including
the Inflation Reduction Act of 2022 and the Tax Cuts and Jobs Act
of 2017), foreign currency effects on our business; changes in
utilization of our manufacturing capacity and our ability to
effectively manage and expand our production levels to meet any
increases in market demand or any customer requests to reschedule
or cancel orders; the impact of inflation on our business;
competitive developments including pricing pressures; the level of
orders that are received and can be shipped in a quarter; our
ability to realize the expected benefits of our preferred supply
program and our long-term supply assurance program; changes or
fluctuations in customer order patterns and seasonality; our
ability to effectively manage our supply of wafers from third party
wafer foundries to meet any decreases or increases in our needs and
the cost of such wafers, our ability to obtain additional capacity
from our suppliers to increase production to meet any increases in
market demand; our ability to successfully integrate the operations
and employees, retain key employees and customers and otherwise
realize the expected synergies and benefits of our acquisitions;
the impact of any future significant acquisitions or strategic
transactions we may make; the costs and outcome of any current or
future litigation or other matters involving our acquisitions
(including the acquired business, intellectual property, customers,
or other issues); the costs and outcome of any current or future
tax audit or investigation regarding our business or our acquired
businesses; fluctuations in our stock price and trading volume
which could impact the number of shares we acquire under our share
repurchase program and the timing of such repurchases; disruptions
in our business or the businesses of our customers or suppliers due
to natural disasters (including any floods in Thailand), terrorist
activity, armed conflict, war, worldwide oil prices and supply,
public health concerns (including the COVID-19 pandemic) or
disruptions in the transportation system; and general economic,
industry or political conditions in the United States or
internationally.
For a detailed discussion of these and other risk factors,
please refer to Microchip’s filings on Forms 10-K and 10-Q. You can
obtain copies of Forms 10-K and 10-Q and other relevant documents
for free at Microchip’s website (www.microchip.com) or the SEC’s
website (www.sec.gov), or from commercial document retrieval
services.
Stockholders of Microchip are cautioned not to place undue
reliance on our forward-looking statements, which speak only as of
the date such statements are made. Microchip does not undertake any
obligation to update any forward-looking statements to reflect
events, circumstances publicly, or new information after this
January 22, 2024 press release or to reflect the occurrence of
unanticipated events.
Note: The Microchip name and logo are registered
trademarks of Microchip Technology Incorporated in the U.S.A. and
other countries. Any other trademarks mentioned herein are the
property of their respective companies.
INVESTOR RELATIONS CONTACT:J. Eric Bjornholt -- CFO..... (480)
792-7804
Microchip Technology (NASDAQ:MCHP)
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