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Microchip ( (MCHP) ) has provided an update.
Microchip Technology has announced a leadership change with Ganesh Moorthy retiring as CEO and President, and Steve Sanghi stepping in as interim CEO and President. Sanghi, a veteran leader with extensive experience at Microchip, will receive a substantial compensation package, including salary and stock units, despite a 20% salary reduction for executive officers. Moorthy will continue to receive benefits and salary for a year post-retirement.
See more data about MCHP stock on TipRanks’ Stock Analysis page.
