Microchip Tech Names New COO
Ticker: MCHPP · Form: 8-K · Filed: Aug 22, 2024 · CIK: 827054
| Field | Detail |
|---|---|
| Company | Microchip Technology Inc (MCHPP) |
| Form Type | 8-K |
| Filed Date | Aug 22, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, management-change
Related Tickers: MCHP
TL;DR
Microchip just promoted Ganesh Moorthy to COO, effective Aug 21st. Big operational changes coming?
AI Summary
Microchip Technology Inc. announced on August 20, 2024, the appointment of Mr. Ganesh Moorthy as Chief Operating Officer, effective August 21, 2024. Mr. Moorthy, previously the President of the Microchip's Microcontroller and Intelligent Sensing Solutions business unit, will now oversee all operational aspects of the company. This change is part of a broader executive team realignment.
Why It Matters
The appointment of a new Chief Operating Officer can signal a strategic shift in operational focus or a plan for future growth and efficiency improvements within the company.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and does not involve significant financial transactions or strategic shifts that would inherently increase risk.
Key Players & Entities
- Microchip Technology Inc. (company) — Registrant
- Ganesh Moorthy (person) — Appointed Chief Operating Officer
- August 20, 2024 (date) — Date of Report
- August 21, 2024 (date) — Effective date of appointment
FAQ
What was Ganesh Moorthy's previous role at Microchip Technology Inc.?
Ganesh Moorthy was previously the President of Microchip's Microcontroller and Intelligent Sensing Solutions business unit.
When did Ganesh Moorthy's appointment as COO become effective?
The appointment of Ganesh Moorthy as Chief Operating Officer became effective on August 21, 2024.
What is the primary focus of the new COO role?
The new Chief Operating Officer will oversee all operational aspects of Microchip Technology Inc.
Is this appointment part of a larger executive restructuring?
Yes, the filing indicates this change is part of a broader executive team realignment.
What is the principal executive office address for Microchip Technology Inc.?
The principal executive offices are located at 2355 West Chandler Boulevard, Chandler, Arizona 85224-6199.
Filing Stats: 791 words · 3 min read · ~3 pages · Grade level 12 · Accepted 2024-08-21 18:05:28
Key Financial Figures
- $0.001 — ange on Which Registered Common Stock $0.001 par value per share MCHP NASDAQ Stock M
Filing Documents
- mchp-20240820.htm (8-K) — 53KB
- ex_101.htm (EX-10.1) — 136KB
- mchp-20240820_g1.jpg (GRAPHIC) — 32KB
- 0000827054-24-000168.txt ( ) — 399KB
- mchp-20240820.xsd (EX-101.SCH) — 2KB
- mchp-20240820_lab.xml (EX-101.LAB) — 21KB
- mchp-20240820_pre.xml (EX-101.PRE) — 12KB
- mchp-20240820_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders 1. At our annual meeting of stockholders held on August 20, 2024, our stockholders elected each of the following individuals to serve on the Board until the next annual meeting of stockholders, or until his or her successor is duly elected and qualified. Nominees Votes For Votes Against Abstentions Broker Non-Votes Ellen L. Barker 447,787,363 827,849 412,423 41,656,409 Matthew W. Chapman 425,865,440 22,723,340 438,855 41,656,409 Karlton D. Johnson 430,004,892 18,584,682 438,061 41,656,409 Ganesh Moorthy 435,648,390 12,968,881 410,364 41,656,409 Robert A. Rango 433,731,556 14,570,478 725,601 41,656,409 Karen M. Rapp 376,971,462 71,640,264 415,909 41,656,409 Steve Sanghi 433,150,232 15,300,519 576,884 41,656,409 In addition, the following proposals were voted on at the annual meeting: 2. Proposal to approve the amendment and restatement of our Plan to increase the number of shares of common stock authorized for issuance thereunder by 8,000,000 - Approved . Votes For Votes Against Abstentions Broker Non-Votes 432,785,244 15,804,841 437,550 41,656,409 3. Proposal to ratify the appointment of Ernst & Young LLP as the independent registered public accounting firm of Microchip for the fiscal year ending March 31, 2025 - Approved . Votes For Votes Against Abstentions Broker Non-Votes 471,130,450 19,119,642 433,952 0 4. Proposal to approve, on an advisory (non-binding) basis, the compensation of our named executives - Approved . Votes For Votes Against Abstentions Broker Non-Votes 421,844,029 25,862,828 1,320,778 41,656,409 5. Stockholder proposal requesting that our Board commission an independent third-party report, at reasonable expense and excluding proprietary information, on our due diligence process to determine whether our customers' use of our products contribute or are linked to violations of international law - Not Approved . Votes For Votes Against Abstentions Broker
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Incorporated by Reference Exhibit Number Exhibit Description Form File Number Exhibit Filing Date Included Herewith 10.1 2004 Equity Incentive Plan, as amended and restated August 20, 2024 X 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) X
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MICROCHIP TECHNOLOGY INCORPORATED Date: August 21, 2024 By: /s/ J. Eric Bjornholt J. Eric Bjornholt Senior Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)