Navitas Semiconductor names chip industry veteran Allexandre as new CEO

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Navitas Semiconductor (NASDAQ:NVTS [https://seekingalpha.com/symbol/NVTS]) said on Monday that semiconductor industry veteran Chris Allexandre will be its new President and Chief Executive Officer, effective Sept. 1.

Allexandre will also join the Navitas' board of directors, and is succeeding Navitas founder Gene Sheridan, who will step down from his role as President, CEO and board member at the end of the month.

“We are excited to welcome Chris Allexandre as our new President and CEO,” said Richard J. Hendrix, Chairman of Navitas’ Board of Directors. “Chris is joining Navitas at a pivotal moment in its evolution. We believe his track record of driving transformation and delivering sustainable and profitable growth, operational excellence and business leadership in power semiconductor markets makes him the right leader for the next chapter of Navitas.”

Allexandre said: “I am honored and thrilled to join Navitas and look forward to working with this world-class team to accelerate our leadership in GaN and SiC technologies,” said Allexandre. “With power demand growing in AI data center and critically needed energy infrastructure, I see promising opportunities to drive expansion in these important markets. I also want to thank Gene for his great support planning for this transition, and for everything he has done for Navitas.”

Allexandre, who has spent more than 25 years in the semiconductor industry, worked at Renesas, IDT, NXP Semiconductors (NXPI [https://seekingalpha.com/symbol/NXPI]), Fairchild Semiconductor and Texas Instruments (TXN [https://seekingalpha.com/symbol/TXN]) prior to joining Navitas.

Navitas shares rose 1.6% in extended trading on the back of the announcement.

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