Steve Sanghi
Also at Microchip Technology Inc
About
Steve Sanghi has built a reputation as a transformative leader with deep roots in the semiconductor industry, demonstrating steadfast dedication over a multi-decade career at Microchip Technology Incorporated. His leadership is marked by his ability to navigate through periods of rapid growth, operational challenges, and evolving market conditions, reflecting both strategic foresight and resilience.
Throughout his extensive career, he has assumed critical roles—not only as President and CEO but also as Chair of the Board—thereby shaping the company’s strategic direction and driving its success over decades. His recent return as Interim CEO and President underscores his commitment to revitalizing the business during challenging times and his readiness to implement decisive turnaround measures.
In addition to his influential work at Microchip, his service on the boards of other publicly traded companies further illustrates his broad impact on the technology sector. His career is characterized by a blend of technical expertise, strategic vision, and a passion for innovation that continues to inspire confidence in the industry.
$MCHP Performance Under Steve Sanghi
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Microchip Technology Inc. (MCHP) | Executive Chair | March 2021 - August 2024 | Held the role of Executive Chair prior to becoming Interim CEO and President |
| Microchip Technology Inc. (MCHP) | Chair of the Board | October 1993 - March 2021 | Served as Chair of the Board before stepping down in March 2021 (resumed in August 2024) |
| Microchip Technology Inc. (MCHP) | CEO | October 1991 - March 2021 | Led the company as Chief Executive Officer until March 2021 |
| Microchip Technology Inc. (MCHP) | President | August 1990 - February 2016 | Served as President until February 2016 |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Impinj, Inc. | Board Chair | June 2022 - Present | Elected to the Board in March 2021 and assumed the Board Chair role in June 2022 |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $398,678 | Fiscal Year 2024 | Base salary earned in fiscal 2024 |
| 401(k) Contributions | $8,214 | Fiscal Year 2024 | Company-matching contributions to retirement plan |
| Life Insurance Premiums | $7,518 | Fiscal Year 2024 | Premiums paid by Microchip for coverage |
Performance Compensation
Performance-Based RSUs (PSUs)
| Parameter [Unit] | April 3, 2023 | July 5, 2023 |
|---|---|---|
| Target Shares | 7,150 shares | 6,688 shares |
| Maximum Shares | 14,300 shares | 13,376 shares |
| Grant Date Fair Value | $935,942 | $887,551 |
| Grant Date Stock Price | $78.61 per share | $80.23 per share |
| Performance Metric | Non-GAAP operating income as % of net sales over 12 quarters | Non-GAAP operating income as % of net sales over 12 quarters |
| Vesting Schedule | Vesting based on achievement of performance criteria over a 12-quarter period | Vesting based on achievement of performance criteria over a 12-quarter period |
| Payout Range | 0% to 200% of target shares | 0% to 200% of target shares |
Additional Details
- Performance Compensation Components: The PSUs represent the performance-based component of Steve Sanghi's equity awards for fiscal 2024.
- Evaluation Period: The performance is evaluated over a 12-quarter (3-year) period tied to non-GAAP operating income as a percentage of net sales.
- Thresholds/Targets and Weights: Specific performance thresholds or detailed targets beyond the earnings metric are not explicitly provided in the documents.
- Other Considerations: Payment outcomes can range from receiving no shares up to 200% of the target number, depending on performance achievement.