Microchip Technology Incorporated Appoints Richard J. Simoncic as New Chief Operating Officer

Richard J. Simoncic Appointed as COO at Microchip Technology

On April 1, 2024, Microchip Technology Incorporated announced the appointment of Richard J. Simoncic as its new Chief Operating Officer. Simoncic, who has been with the company since 1990 and most recently served as Executive Vice President, will now work under the guidance of President and CEO Ganesh Moorthy.

This move signifies a focus on continuity and experience in Microchip Technology’s leadership team. The appointment of Simoncic comes as Senior Vice President Stephen V. Drehobl is set to retire on June 7, 2024.

Microchip Technology Inc. (MCHP) is a leading provider of semiconductor solutions for automotive, industrial, medical and communication applications. The company’s stock trades on the Nasdaq Global Select Market under the symbol MCHP with a market capitalization of $68 billion as of March 31st, 2023.

If you are looking for more information on MCHP stock, head over to TipRanks’ Stock Analysis page to get insights from our expert analysts and track key metrics such as price-earnings ratio (P/E ratio), earnings growth forecasts, and dividend yield estimates.

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