Semtech Corp. (Nasdaq: SMTC) has announced a pair of changes at the senior executive level. The company has revealed that President and CEO Mohan Maheswaran intends to retire. Semtech also has promoted Asaf Silberstein to the newly created role of chief operating officer (COO) from his previous position of executive vice president, worldwide operations and information technology.
Maheswaran will step down after serving as president and CEO for 17 years. He has agreed to stay on with the company for another 18 months – as CEO until a date in the future as the company searches for a new CEO, and then continuing as a consultant for the remainder of the 18 months. Semtech expects him to retain his seat on the board until his retirement date.
“The past 17 years at Semtech have been an incredible journey for me, and I am extremely proud of the numerous accomplishments over that time. We have built a strong company and team with a dynamic, innovative culture and with a portfolio of best-in-class growth engines in some of the most exciting growth markets in the industry. Semtech has now transformed itself, and, as we approach the next phase of growth, the time has come for me to retire and create a smooth transition to our next leader,” said Maheswaran. “I want to thank all of Semtech’s stockholders, customers, employees, and stakeholders who have enabled Semtech to become such a great company during my tenure.”
Silberstein will lead Semtech’s business groups, sales, operations, and information technology. He joined the company in 2011 as vice president of operations, managing Semtech’s supply chain and operations, and added information technology to his responsibilities in 2016. Prior to joining Semtech, Silberstein served as vice president of operations and information technology at Microsemi Corp. and as COO at PowerDsine.
“Having recently completed the transformative acquisition of Sierra Wireless, which doubled the size of Semtech, I believe now is the right time to enhance our operational focus with this new position. Asaf is a seasoned executive and has been an integral part of Semtech’s leadership team. I am confident his strong track record of operational performance will serve us well,” said Maheswaran.
"I am humbled and thrilled to have been chosen as Semtech's new COO. With the tremendous momentum we have already established, I am confident that we are well positioned to achieve even greater success in the future and to drive growth and innovation across our business. I am excited to be part of such an exceptional organization as we continue to set new standards of excellence in our industry,” Silberstein stated.
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
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