17 September 2021
Odyssey announces CEO transition and appointment of John Edmunds as chairman
Odyssey Semiconductor Technologies Inc of Ithaca, NY, USA, which is developing high-voltage power switching components based on proprietary gallium nitride (GaN) processing technology, says that co-founder, chief technology officer & board member Rick Brown has been appointed as interim CEO, effective 22 September. He replaces Alex Behfar, who has resigned as CEO, chairman & board member. The firm has initiated a search for a permanent CEO to succeed Behfar.
“Alex was instrumental in efforts to advance our proprietary technology that will allow for gallium nitride (GaN) to replace silicon carbide (SiC) as the leading high-voltage power switching semiconductor material,” comments Brown. “The premium power switching device market, which is described as applications where SiC-based systems perform insufficiently, is projected to reach over $3.5bn by 2025. While we have benefited from Alex’s contributions, we remain on a very strong course and wish him well in his future endeavors,” he adds.
“I am proud of the successes that we have achieved together, and the company is well positioned for long-term growth,” says Behfar.
The board of directors has also appointed John Edmunds as chairman. He recently joined the Odyssey board as an independent member and brings over 40 years of financial experience, including 20 years as a public company chief financial officer with fast-growing semiconductor companies.
“During this transition period, it is our priority to ensure that we receive input broadly in naming the best individual to lead the company, while maintaining a stable and effective organization,” states Edmunds. “We will continue to share updates about our leadership and technology developments and appreciate the continued support of our shareholders as we bring Odyssey closer to the commercial launch of its unique vertical GaN high-voltage power switching semiconductors.”