CHANDLER, Ariz., Dec. 16, 2022 (GLOBE NEWSWIRE) — (NASDAQ: MCHP) – Microchip Technology Incorporated, a number one supplier of good, related and safe embedded management options, right now introduced that Robert Rango, previously the President and Chief Executive Officer of Enevate Corporation and Executive Vice President of Broadcom’s Mobile and Wireless Group, will be a part of the Board of Directors of Microchip efficient January 3, 2023. With this appointment, Microchip’s Board will likely be comprised of 8 members.

Commenting on Robert Rango’s appointment to the board, Microchip’s Executive Chair, Steve Sanghi, stated, “Mr. Rango most recently served as the CEO of Enevate Corporation, a privately held technology company. As a leader with over 40 years of industry experience, Mr. Rango has held leadership roles of increasing prominence at various semiconductor companies including Broadcom Corporation, AT&T Microelectronics, Lucent Technologies, and Agere Systems. He brings years of industry operations, technology experience, risk management and international business experience to Microchip along with significant public company board experience. He currently serves on the boards of KLA Corporation and Keysight Technologies, Inc., and served on the board of Integrated Device Technologies, Inc. from 2015 to 2019. We welcome Robert to our board and look forward to benefitting from his contributions.”

Robert Rango commented, “Microchip’s strong leadership, technology mix and empowering company culture attracted me to the company. The leadership team has a solid track-record of driving growth, profitability, and shareholder value creation. I’m excited to be joining the board, and I look forward to contributing to Microchip’s continued success.”

Cautionary Statement:

The statements on this launch referring to the addition to our board of administrators, wanting ahead to benefitting from his contributions, driving progress, profitability, and shareholder worth creation and contributing to Microchip’s continued success are forward-looking statements made pursuant to the secure harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements contain dangers and uncertainties that would trigger our precise outcomes to vary materially, together with, however not restricted to: any continued uncertainty, fluctuations or weak point within the U.S. and world economies (together with China) attributable to rising rates of interest, excessive inflation or the impression of the COVID-19 pandemic (together with lock-downs in China), actions taken or which can be taken by the Biden administration or the U.S. Congress, financial coverage, political, geopolitical, commerce or different

points within the U.S. or internationally (together with the Ukraine-Russia navy battle), adjustments in demand or market acceptance of our merchandise and the merchandise of our clients and our potential to satisfy any continued will increase in market demand; the impression that the CHIPS Act can have on growing manufacturing capability in our trade by offering incentives for us, our rivals and foundries to construct new wafer manufacturing services; the quantity and timing of any incentives we could obtain beneath the CHIPS Act, the impression of present and future adjustments in U.S. company tax legal guidelines (together with the Inflation Reduction Act of 2022 and the Tax Cuts and Jobs Act of 2017), overseas forex results on our enterprise; the combination of stock we maintain and our potential to fulfill short-term orders from our stock; adjustments in utilization of our manufacturing capability and our potential to successfully handle and broaden our manufacturing ranges to satisfy any continued will increase in market demand; the impression of inflation on our enterprise; aggressive developments together with pricing pressures; the extent of orders which might be acquired and might be shipped in 1 / 4; our potential to appreciate the anticipated advantages of our most well-liked provide program and our long-term provide assurance program; adjustments or fluctuations in buyer order patterns and seasonality; our potential to acquire a enough provide of wafers from third celebration wafer foundries to satisfy our growing wants and the price of such wafers, our potential to acquire further capability from our suppliers to extend manufacturing to satisfy any continued will increase in market demand; our potential to efficiently combine the operations and workers, retain key workers and clients and in any other case understand the anticipated synergies and advantages of our acquisitions; the impression of any future vital acquisitions or strategic transactions we could make; the prices and consequence of any present or future litigation or different issues involving our Microsemi acquisition, the Microsemi enterprise, mental property, clients, or different points; the prices and consequence of any present or future tax audit or investigation relating to our enterprise or the enterprise of Microsemi,; fluctuations in our inventory worth and buying and selling quantity which may impression the variety of shares we purchase beneath our share repurchase program and the timing of such repurchases; disruptions in our enterprise or the companies of our clients or suppliers attributable to pure disasters (together with any floods in Thailand), terrorist exercise, armed battle, struggle, worldwide oil costs and provide, public well being considerations (together with the COVID-19 pandemic) or disruptions within the transportation system; and basic financial, trade or political circumstances within the United States or internationally.

For an in depth dialogue of those and different threat components, please check with Microchip’s filings on Forms 10-Ok and 10-Q. You can receive copies of Forms 10-Ok and 10-Q and different related paperwork totally free at Microchip’s web site (www.microchip.com) or the SEC’s web site (www.sec.gov), or from business doc retrieval providers.

Stockholders of Microchip are cautioned to not place undue reliance on our forward-looking statements, which communicate solely as of the date such statements are made. Microchip doesn’t undertake any obligation to replace any forward-looking statements to replicate occasions, circumstances publicly, or new data after this December 16, 2022, press launch or to replicate the prevalence of unanticipated occasions.

Stockholders of Microchip are cautioned to not place undue reliance on our forward-looking statements, which communicate solely as of the date such statements are made. Microchip doesn’t undertake any obligation to replace any forward-looking statements to replicate occasions, circumstances publicly, or new data after this November 28, 2022, press launch or to replicate the prevalence of unanticipated occasions.

About Microchip:

Microchip Technology Incorporated is a number one supplier of good, related and safe embedded management options. Its easy-to-use growth instruments and complete product portfolio allow clients to create optimum designs, which cut back threat whereas reducing whole system value and time to market. The Company’s options serve greater than 125,000 clients throughout the economic, automotive, shopper, aerospace and protection, communications and computing markets. Headquartered in Chandler, Arizona, Microchip provides excellent technical help together with reliable supply and high quality. For extra data, go to the Microchip web site at www.microchip.com.

Note: The Microchip title and emblem are registered emblems of Microchip Technology Inc. within the USA and different nations.

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