{"id":842008,"date":"2025-04-24T21:34:07","date_gmt":"2025-04-25T01:34:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/navitas-semiconductor-announces-corporate-governance-enhancements\/"},"modified":"2025-04-24T21:34:07","modified_gmt":"2025-04-25T01:34:07","slug":"navitas-semiconductor-announces-corporate-governance-enhancements","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/navitas-semiconductor-announces-corporate-governance-enhancements\/","title":{"rendered":"Navitas Semiconductor Announces Corporate Governance Enhancements"},"content":{"rendered":"
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\n Richard Hendrix Appointed Chair of the Board<\/em>\n <\/p>\n

\n Executive Steering Committee Formed to Advance Growth Strategy<\/em>\n <\/p>\n

TORRANCE, Calif., April 24, 2025 (GLOBE NEWSWIRE) — Navitas Semiconductor (Nasdaq: NVTS), the only pure-play, next-generation power semiconductor company and industry leader in gallium nitride (GaN) power ICs and silicon carbide (SiC) technology, today announced actions by its board of directors to advance the company\u2019s growth strategy. These corporate governance enhancements reflect the board\u2019s ongoing commitment to stockholder engagement and value creation for all Navitas stakeholders.<\/p>\n

\u201cWe have taken an important step forward by strengthening our corporate governance and further aligning the board\u2019s interests with those of our stockholders,\u201d said Gene Sheridan, Navitas\u2019 chief executive officer and co-founder. \u201cWe are confident that we have the right strategy in place to continue delivering disruptive advancements in our target markets. With the updates announced today, our board and leadership team are well positioned to capitalize on Navitas\u2019 multi-billion dollar market opportunities and generate value.\u201d<\/p>\n

\n Board and Leadership Updates<\/strong>\n <\/p>\n

Navitas\u2019 board has appointed Richard Hendrix as its chair, effective immediately. Mr. Hendrix joined Navitas\u2019 board as an independent director in 2021 and is chair of the audit committee and a member of the compensation committee. He has more than 30 years of capital markets leadership and advisory experience. He succeeds Mr. Sheridan, who will remain on the board as a director and continue as Navitas\u2019 chief executive officer.<\/p>\n

\u201cI am honored to chair Navitas\u2019 board as we work to advance our strategy and continue to enable a revolution in power electronics. Our board remains committed to maintaining strong corporate governance and creating value for our stockholders,\u201d said Mr. Hendrix.<\/p>\n

Daniel Kinzer, Navitas\u2019 chief technology officer, chief operating officer and co-founder, has resigned from his executive roles and as a member of the board. Mr. Kinzer will continue to serve in an advisory role supporting technology and product innovation in the area of GaN technology.<\/p>\n

Mr. Hendrix continued, \u201cOn behalf of the Board, I would like to thank Dan for his invaluable vision and leadership in building Navitas into the only pure-play, next-generation power semiconductor company. We appreciate his continued contributions as we embark on this next chapter of the company\u2019s growth.\u201d<\/p>\n

In connection with Mr. Kinzer\u2019s departure from the board, the board intends to appoint an independent director to stand for election as a Class I director at the 2025 annual stockholders\u2019 meeting, along with Mr. Sheridan and Ranbir Singh. Additional details will be provided in the Company\u2019s definitive proxy statement for the meeting to be filed with the U.S. Securities and Exchange Commission (SEC).<\/p>\n

\n Formation of Executive Steering Committee<\/strong>\n <\/p>\n

Navitas also announced the formation of an executive steering committee of the board, which will be responsible for a number of initiatives that include oversight and input on:<\/p>\n