Navitas Semiconductor Announces Corporate Governance Enhancements

Core Insights - Navitas Semiconductor has appointed Richard Hendrix as the new chair of the board, effective immediately, to enhance corporate governance and align board interests with stockholders [4][5] - The company has formed an executive steering committee to oversee strategic initiatives aimed at accelerating growth and profitability [8][11] - Daniel Kinzer has resigned from his executive roles but will continue to support the company in an advisory capacity [6][7] Corporate Governance Enhancements - Richard Hendrix, with over 30 years of capital markets experience, succeeds Gene Sheridan as chair while Sheridan remains CEO [4][5] - The board's commitment to strong corporate governance is emphasized, aiming to create value for stockholders [5] Strategic Initiatives - The executive steering committee will focus on expense management, product and technology roadmap acceleration, go-to-market strategies, and executive appointments [8][11] - The committee will work closely with CEO Gene Sheridan to ensure effective execution of these priorities [8] Market Position and Opportunities - Navitas is recognized as the only pure-play, next-generation power semiconductor company, specializing in GaN and SiC technologies [2][14] - The company aims to capitalize on multi-billion dollar market opportunities in sectors such as data centers, electric vehicles, and renewable energy [3][14]