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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.
- Advanced Computing - Focuses on high-performance computing and AI solutions, enabling enterprises to deploy cutting-edge AI infrastructure and optimize computational workloads.
- Integrated Memory - Provides advanced memory solutions designed to meet the complex requirements of enterprise applications and data-intensive operations.
- Optimized LED - Specializes in LED-based solutions, offering innovative lighting technologies for various applications.
| Name | Position | External Roles | Short 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. | View Report → |
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.
| Company | Year | Details |
|---|---|---|
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, 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.