Microchip Technology Announces Changes to Its Board of Directors

CHANDLER, Ariz., March 02, 2021 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Karlton Johnson, currently the Chief Executive Officer of DeLaine Strategy Group LLC, will join the Board of Directors of Microchip effective April 1, 2021.

Commenting on Karlton Johnson’s appointment to the Board, Microchip’s Executive Chair, Steve Sanghi, said, “Karlton brings a valuable and unique background to Microchip with his many years of defense expertise, space development, cybersecurity knowledge, risk management, international business experience and organization excellence. Karlton has an impeccable track record of public service including 26 years in the Air Force as well as serving on multiple non-profit and advisory boards. We very much welcome Karlton to our Board and look forward to benefiting from his contributions.”

Karlton Johnson commented, “Microchip has an outstanding record of growth and profitability. The track record of financial success in the semiconductor industry combined with a winning company culture is what attracted me to Microchip. I am excited to be joining the Board of Directors of Microchip and look forward to contributing to Microchip’s success.”

Microchip also announced that L.B. Day has decided to retire from the Microchip Board of Directors effective as of the August 2021 annual meeting of shareholders.

Commenting on Mr. Day’s planned retirement, Mr. Sanghi said, “It has been an absolute pleasure to have L.B. on Microchip’s Board since December of 1994. L.B. helped Microchip establish its strategic planning process and his contributions to the Board and Microchip’s success will be missed. L.B. will always be part of the Microchip family.”

L.B. Day said, “It has been my pleasure to be a member of the Microchip Board of Directors for over 25 years. The success Microchip has achieved has been remarkable and I know that Microchip will continue to thrive in the future.”

Cautionary Statement:

The statements in this release relating to the changes in our board of directors, the success of Microchip and that Microchip will continue to thrive in the future are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to: uncertainties related to the impact of the COVID19 pandemic on the economy, our business and the business of our customers and suppliers; the impact of any significant acquisitions we may make; our ability to realize the expected benefits of our acquisitions, changes in demand or market acceptance of our products and the products of our customers; our ability to execute on our strategy; our ability to hire and retain our executives and other employees; competitive developments including pricing pressures; the costs and outcome of any current or future litigation or other matters involving our Microsemi acquisition, the Microsemi business, intellectual property, customers, or other issues; the costs and outcome of any current or future tax audit or investigation regarding our business or the business of Microsemi; disruptions in our business or the businesses of our customers or suppliers due to natural disasters (including any floods in Thailand), terrorist activity, armed conflict, war, worldwide oil prices and supply, public health concerns or disruptions in the transportation system; and general economic, industry or political conditions in the United States or internationally.