---
schema_version: "secwatch.filing_event.v1"
accession: "0000827054-24-000221"
form_type: "8-K"
ticker: "MCHP"
cik: "0000827054"
company_name: "MICROCHIP TECHNOLOGY INC"
filed_at: "2024-11-20T23:59:59+00:00"
generated_at: "2026-05-29T22:15:16.247659+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000827054-24-000221
- form_type: 8-K
- ticker: MCHP
- cik: 0000827054
- company_name: MICROCHIP TECHNOLOGY INC
- filed_at: 2024-11-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/827054/000082705424000221/0000827054-24-000221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/827054/000082705424000221/mchp-20241118.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000827054-24-000221
- JSON: https://secwatch.observer/filing/0000827054-24-000221.json
- Plain text: https://secwatch.observer/filing/0000827054-24-000221.txt

## Source-grounded claims
- claim_id: 824ee22fe1
  claim: Steve Sanghi was elected as interim Chief Executive Officer and President at MICROCHIP TECHNOLOGY INC.
  evidence_excerpt: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/827054/000082705424000221/0000827054-24-000221-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.