Allegro MicroSystems, Inc. (Allegro), a global company in power and sensing semiconductor solutions for motion control and energy efficient systems, announced that its President and Chief Executive Officer, Ravi Vig, is retiring.
Vig, will retire, effective June 13, 2022, from his roles as President, CEO and a member of the board of directors, which he has held since 2016 after joining the Company in 1984. Vig will continue to support the leadership transition and serve in an advisory role to the Company for the next 6 months, the statement said.
“On behalf of the Board and the entire management team, I would like to extend our sincere appreciation to Ravi for his dedication, contributions and leadership to Allegro for nearly 38 years,” stated Yoshihiro (Zen) Suzuki, Chairman of Allegro MicroSystems. “He has been instrumental in our strategic transformation, successfully bringing the company public and leading us through our initial growth phase, culminating in the achievement of record annual growth in net sales of 30% in fiscal year 2022.”
“It has been an honor and privilege to lead Allegro through the Company’s strategic transformation, and our transition from a private company to a high-growth public company,” commented Ravi Vig. “The decision to retire was one of the most difficult decisions of my career, yet it is the right time for me personally and for the Company as we report record results for fiscal year 2022. Allegro’s market opportunity has never been greater, and the Company is uniquely positioned to benefit from key secular growth trends in xEV, ADAS, data center and industrial to further extend its growth trajectory.”
After an extensive search, the board of directors has appointed Vineet Nargolwala as President and CEO and a member of the board of directors, effective June 13, 2022. Suzuki commented, “We are very pleased to welcome Vineet to the Allegro executive team and believe his extensive leadership experience and proven track record of growth in multiple industries will be integral to taking Allegro to the next level of growth and expansion.”
“I am thrilled to join Allegro at such an exciting time and become a part of this world class management and engineering team,” stated Nargolwala. “Allegro has an outstanding reputation for technology innovation and quality as the leading provider of semiconductor technologies for sensing and power in the automotive and industrial markets. With alignment to fast growing markets and strong design win momentum, I believe the Company has significant opportunities ahead that are anchored on key trends in electrification, Industry 4.0, data centers, autonomous vehicles and efficient motion control. I look forward to further advancing Allegro’s growth strategy and driving value for all stakeholders for years to come.”
Vineet Nargolwala is a successful technology executive with over 25 years of global executive leadership experience. Prior to joining Allegro, Nargolwala previously served as Executive Vice President of Sensing Solutions at Sensata Technologies, a leading industrial technology company that develops sensors and sensor-based solutions for the automotive, heavy vehicle and off-road, industrial, and aerospace industries. He joined Sensata in 2013 and held various global executive positions. Prior to Sensata, he was with Honeywell International Inc. for over nine years in business strategy and P&L leadership roles of increasing responsibility. Prior to Honeywell, Nargolwala was at Nortel Networks in product management and engineering roles.
Nargolwala holds a bachelor’s degree in Electrical Engineering from Maharaja Sayajirao University in Baroda, India, a master’s degree in Electrical Engineering from the University of Texas and a Master of Business Administration from Cornell University.
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