News: Microelectronics
25 April 2025
Navitas strengthens corporate governance
To advance its growth strategy, gallium nitride (GaN) power IC and silicon carbide (SiC) technology firm Navitas Semiconductor Corp of Torrance, CA, USA has announced corporate governance enhancements that are said to reflect the board of directors’ ongoing commitment to stockholder engagement and value creation for stakeholders.
“We have taken an important step forward by strengthening our corporate governance and further aligning the board’s interests with those of our stockholders,” believes chief executive officer & co-founder Gene Sheridan. “Our board and leadership team are well positioned to capitalize on Navitas’ multi-billion-dollar market opportunities and generate value.”
Board and leadership updates
After joining the board as an independent director in 2021, Richard Hendrix — currently chair of the audit committee and a member of the compensation committee — has been appointed as board chair. Hendrix has more than 30 years of capital markets leadership and advisory experience. He succeeds Sheridan, who will remain on the board as a director and continue as CEO.
Chief technology officer, chief operating officer & co-founder Daniel Kinzer has resigned from his executive roles and as a member of the board. He will continue to serve in an advisory role supporting technology and product innovation in GaN technology.
“On 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,” says Hendrix. “We appreciate his continued contributions as we embark on this next chapter of the company’s growth.”
In connection with Kinzer’s 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’ meeting, along with Sheridan and Dr Ranbir Singh.
Formation of executive steering committee
Navitas has also announced the formation of an executive steering committee of the board, responsible for initiatives that include oversight and input on:
- expense management and defining an accelerated path to profitability;
- accelerating the product and technology roadmap;
- enhancing go-to-market and partnership strategies; and
- appointing operating, sales and technology executives.
The committee will work with Sheridan to ensure the effective execution of these strategic priorities. It will be chaired by Singh and include Hendrix and David Moxam (chair of the compensation committee and a member of the audit committee) as members.
In connection, Navitas has entered into a cooperation agreement with Singh following constructive engagement.
