IXYS appoints a co-CEO as it looks at acquistions
All manufacturing, sales, finance and legal departments will continue to report to Sasson who was president and chief financial officer. All research and development, product engineering, marketing and other technology functions will continue to report to Zommer, who is alos chairman of the board of directors.
“We have been working in tandem for the past several years, guiding IXYS’ growth and development to become one of the top power semiconductor companies in an ever consolidating industry. We plan to continue working together for the foreseeable future within the context of this re-designed management team,” said Zommer and Sasson. “This structure enables us to collaboratively reach decisions necessary to drive our strategic direction and execute it throughout our 14 subsidiaries globally.” These include sites in the UK and Germany.
“Uzi is an exceptional executive who has demonstrated his operational and financial capabilities and the CEO position acknowledges his contributions to IXYS,” said Zommer as Chairman.
The company, headquartered in Milpitas, california and Biel, Switzerland, is also now actively seeking organic growth and acquisitions. It has suspended its quarterly dividends to direct cash towards growth initiatives, reinvestments, acquisitions or repurchases of stock, and says it is currently working on several strategic opportunities. The company, founded in 1983 by Zommer, acquired Zilog in 2009 and Samsung’s 4 and 8bit microcontrollers in 2013. It currently runs three CMOS wafer fabs and one gallium arsendie RF fab, with an additional dedicated power substrate manufacturing line.
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