Microchip Technology$MCHP (-1%) has announced that CEO Ganesh Moorthy will retire at the end of November. His successor will be Steve Sanghithe current Chairman of the Board and former CEO of the company. Moorthy has worked at Microchip for more than two decades and has been CEO since March 2021. Sanghi, who already has a long history of leadership at Microchip, will return to the role to ensure the continuity and strategic direction of the company.
This leadership change comes at a time when Microchip is expanding its market position in semiconductor technologies and addressing the growing demand for smart and connected solutions.
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