Microchip CEO Moorthy retires; former CEO Sanghi returns as interim; board reduced to 6

MICROCHIP TECHNOLOGY INC

Ganesh Moorthy retired as CEO/President and from the Board effective November 18, 2024.
Steve Sanghi (former CEO and current Board Chair) elected interim CEO and President.
Board size reduced from 7 to 6 directors following Moorthy's retirement.
Sanghi's base salary set at $957,443; MICP target 200% of base; salary reduced 20% under company program.
Moorthy receives 12 months salary/benefits and continued RSU vesting for 12 months.

item 5.02

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Appointed (interim)

Steve Sanghi

interim Chief Executive Officer and President

MCHP · MICROCHIP TECHNOLOGY INC

Effective: 2024-11-18
Filed: November 20, 2024, 6:59 PM ET

the Board elected Microchip’s former Chief Executive Officer and President, Steve Sanghi, to serve as interim Chief Executive Officer and President effective November 18, 2024.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Steve Sanghi was elected as interim Chief Executive Officer and President at MICROCHIP TECHNOLOGY INC.

Action: elected
Role: interim Chief Executive Officer and President

Exact text from the filing

the Board elected Microchip’s former Chief Executive Officer and President, Steve Sanghi, to serve as interim Chief Executive Officer and President effective November 18, 2024.

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Source: SEC EDGAR

accession 0000827054-24-000221

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