Power Integrations names Jennifer Lloyd its next CEO

Power Integrations (POWI) announced that Jennifer A. Lloyd, PhD will be the company’s next chief executive officer, succeeding Balu Balakrishnan, who has served as CEO since 2002. A former member of Power Integrations’ board of directors, Dr. Lloyd has been reappointed to the company’s board. Both appointments are effective July 21. Balakrishnan plans to serve as executive chairman of Power Integrations’ board of directors for approximately six months to ensure a smooth leadership transition; he is expected to remain a non-executive member of the board thereafter. Bala Iyer will remain in the role of lead independent director. Commented Mr. Balakrishnan: “We are thrilled that Jen Lloyd will be our next CEO. Throughout her distinguished career at Analog Devices, she has proven her ability to drive innovation, deliver new products to the market and achieve profitable growth. Her deep knowledge of power products and technologies and her familiarity with our company will allow her to hit the ground running. I am confident that she is the right leader to take Power Integrations to the next level.”