Microchip CEO Moorthy retires; Sanghi to serve as interim CEO

2 hours ago · He is being replaced by interim President and CEO Steve Sanghi, the previous Microchip (Nasdaq: MCHP) chief executive who took that position in 1991 and retired in 2021. Since then he has been ...

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FAQs about Microchip CEO Moorthy retires; Sanghi to serve as interim CEO Coupon?

Who is the new CEO of microchip?

Sanghi, who will remain chairman, becomes interim CEO and president effective immediately. Microchip has been mired in a deep sales slump, with revenue projected to plunge 40% this year. Sanghi, a company veteran, served as CEO before Moorthy took the job in 2021 and vowed to help get the company back on track. ...

Who is Ganesh Moorthy?

Former Microchip CEO Steve Sanghi is taking over as interim CEO of the Arizona company. Microchip Technology Inc. has announced the retirement of its CEO and president, Ganesh Moorthy. Here's what we know. Chandler-based semiconductor company Microchip Technology Inc. has announced the retirement of its CEO and president, Ganesh Moorthy. ...

Is microchip a public company?

Microchip is Arizona’s ninth-largest public company, with $7.63 billion in revenue, and its 41st-largest employer, with 2,273 full-time employees in the state, according to Business Journal research. Moorthy has been Microchip’s CEO since early 2021. He was previously president and chief operating officer at the company. ...

How did microchip perform in Q2 2025?

The company reported net sales of $1.16 billion for its second fiscal quarter of 2025 ending Sept. 30, down 48.4% from the prior year. Microchip had adjusted net income of $250.2 million and earnings per share of 46 cents in its second fiscal quarter, down from $889.3 million and $1.62 a share in the year-earlier period. ...

Did microchip's second fiscal quarter exceed Wall Street expectations?

Microchip’s second fiscal quarter financial results exceeded Wall Street expectations, but the semiconductor company continues to navigate an ongoing inventory correction. The company reported net sales of $1.16 billion for its second fiscal quarter of 2025 ending Sept. 30, down 48.4% from the prior year. ...

Who is Steve Sanghi?

He is being replaced by interim President and CEO Steve Sanghi, the previous Microchip (Nasdaq: MCHP) chief executive who took that position in 1991 and retired in 2021. Since then he has been serving as the publicly traded company's executive chairman. Details of Sanghi’s compensation have not yet been filed with federal regulators. ...