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    Penguin Solutions Inc (PENG)

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    Penguin Solutions, Inc. (PENG) is a global enterprise solutions provider specializing in high-performance computing, artificial intelligence (AI) infrastructure, and advanced memory solutions. The company delivers innovative, high-availability technologies tailored for enterprise needs, including AI factory offerings and LED-based solutions. PENG operates globally, serving a diverse customer base of OEMs, commercial enterprises, and government entities.

    1. Advanced Computing - Focuses on high-performance computing and AI solutions, enabling enterprises to deploy cutting-edge AI infrastructure and optimize computational workloads.
    2. Integrated Memory - Provides advanced memory solutions designed to meet the complex requirements of enterprise applications and data-intensive operations.
    3. Optimized LED - Specializes in LED-based solutions, offering innovative lighting technologies for various applications.
    NamePositionExternal RolesShort Bio

    Mark Adams

    ExecutiveBoard

    President and CEO

    Board member at Cadence Design Systems, Inc. and Seagate Technology Holdings plc

    Mark Adams has been CEO since 2020, leading PENG through significant growth, including a 24.4% YoY revenue increase in Q1 FY25. Previously held executive roles at Micron Technology and Lumileds.

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    Anne Kuykendall

    Executive

    SVP and Chief Legal Officer

    None

    Anne Kuykendall joined PENG in 2021 and was promoted to Chief Legal Officer in 2023. She played a key role in the company's rebranding and compliance efforts.

    Jack Pacheco

    Executive

    EVP, COO, and President of Integrated Memory

    None

    Jack Pacheco has been with PENG since 2004, serving in various leadership roles. Currently oversees operations and the Integrated Memory division.

    Nate Olmstead

    Executive

    Senior Vice President and CFO

    None

    Nate Olmstead joined as CFO in 2024, previously serving as CFO at Logitech International and holding senior finance roles at Hewlett-Packard.

    Pete Manca

    Executive

    SVP and President of Advanced Computing

    None

    Pete Manca joined PENG in 2024 to lead the Advanced Computing segment, contributing to 47% of the company's FY24 revenue. Previously held leadership roles at Dell Technologies and Egenera.

    Bryan Ingram

    Board

    Director

    Board member at Aviat Networks, Inc.

    Bryan Ingram has been a director since 2018. He retired from Broadcom in 2020, where he held senior leadership roles, including SVP and GM of the Wireless Semiconductor Division.

    Mark Papermaster

    Board

    Director

    CTO and EVP at AMD; Member of multiple advisory boards, including IEEE and the Global Semiconductor Alliance

    Mark Papermaster joined PENG's board in 2022. He is a seasoned technology executive, currently serving as CTO at AMD, and has held leadership roles at Cisco, Apple, and IBM.

    Mary Puma

    Board

    Director

    Director at Ciena Corporation, Allegro MicroSystems, Inc., and Entegris, Inc.; Chair of SEMI

    Mary Puma joined PENG's board in 2023 after retiring as CEO of Axcelis Technologies. She has decades of experience in the semiconductor industry.

    Maximiliane Straub

    Board

    Director

    Board member at two private companies

    Maximiliane Straub has been a director since 2019. She has held senior finance roles at Bosch and other organizations and was recognized as a top woman in the auto industry.

    Min Yong Ha

    Board

    Director

    Chief Development Officer at SK Telecom; Board member at Pacific Telecom, ID Quantique, Rebellions Inc.

    Min Yong Ha joined PENG's board in 2024 as part of SK Telecom's strategic investment. He has extensive experience in AI and corporate strategy.

    Penelope Herscher

    Board

    Chairperson of the Board

    Chair of Lumentum Holdings, Inc.; Board member at FORVIA SA and one private company

    Penelope Herscher has been Chairperson since 2021. She has extensive experience as a technology executive and board member, including CEO roles at First Rain and Simplex Solutions.

    Randy Furr

    Board

    Director

    None

    Randy Furr has been a director since 2017. He previously served as CFO at Bloom Energy and Spansion Inc., and as President and COO at Sanmina Corporation.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Stratus Technologies

    2023

    SGH acquired Stratus Technologies for a $225 million cash purchase plus up to a $50 million contingent earnout, which was settled in cash; the acquisition, completed in August 2022 and contributing net sales in FY 2023, strategically enhances SGH’s Intelligent Platform Solutions by adding advanced high-availability and fault-tolerant computing platforms for data centers and edge environments.

    Recent press releases and 8-K filings for PENG.

    Penguin Solutions Announces Proposed Redomiciliation to the United States
    PENG
    • Penguin Solutions, Inc. has received board approval to redomicile its Cayman Islands parent company to the United States, a move aimed at streamlining its organizational and regulatory structure.
    • The redomiciliation plan involves exchanging existing Cayman Islands ordinary and convertible preferred shares one-for-one for common stock and convertible preferred stock of a new Delaware corporation, with completion anticipated in Q3 2025 pending shareholder and Cayman Court approvals.
    • Following the redomiciliation, the company’s common stock will continue to trade under the ticker PENG on the Nasdaq Global Select Market, reflecting its ongoing strategic focus in the U.S. market.
    Mar 24, 2025, 12:00 AM