Allegro MicroSystems Appoints Jennie Raubacher to its Board of Directors

MANCHESTER, N.H., April 03, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Jennie Raubacher to Allegro’s Board of Directors (“Board”) as an independent director. Ms. Raubacher’s appointment is effective on April 3, 2024.

Jennie Raubacher joins Allegro’s Board with over 25 years of experience in investment banking focused on the semiconductor, technology and telecom sectors where she has advised global C-suite executives and boards of directors on strategic and financing transactions. Ms. Raubacher served as Managing Director at Wells Fargo & Company (“Wells Fargo”) where she led the firm’s global semiconductor and electronics investment banking practice from 2011 until March 2024. Prior to Wells Fargo, she was an investment banker focused on the technology, media and telecom sectors at Lehman Brothers Inc. and Barclays Capital Inc. (following its acquisition of Lehman Brothers). Ms. Raubacher also serves on the Women’s Leadership Council of the Global Semiconductor Alliance.

“I have had the privilege of first working with Jennie nearly two decades ago. We are grateful for her sustained interest in Allegro and delighted to welcome Jennie to Allegro’s Board,” said Yoshihiro “Zen” Suzuki, Chairman of the Board. “Jennie’s extensive semiconductor industry experience as an investment banker advising global C-suite executives and boards of directors on strategic and financing transactions makes her a valuable addition. We look forward to benefitting from Jennie’s insight as we continue to innovate solutions for our target markets, including e-Mobility, Clean Energy and Automation, and execute on our strategy focused on the mega trends of electrification and automation.”

“I have known Allegro MicroSystems for two decades and helped execute its IPO. It is an exciting time to join Allegro’s Board, and I am honored to be appointed,” said Jennie Raubacher. “I look forward to working closely with Allegro’s directors and management team to help oversee execution of the company’s strategy, leverage my expertise in capital allocation and value creation opportunities, and enable the company to continue its strong progress.”