Semtech Corporation promotes Asaf Silberstein
Semtech Corporation says that Asaf Silberstein has been promoted to the newly created role of chief operating officer (COO) from his previous position of executive vice president, worldwide operations and information technology.
Mr. Silberstein will report directly to Semtech’s president and chief executive officer, Mohan Maheswaran. As COO, Mr. Silberstein will lead Semtech’s business groups, sales, operations and information technology.
Mr. Silberstein has more than two decades of operations experience in the semiconductor industry. He joined Semtech in 2011 as vice president of operations managing Semtech’s supply chain and operations and added information technology to his responsibilities in 2016. Before joining Semtech, Mr. Silberstein served as vice president of operations and information technology at Microsemi Corporation and as COO at PowerDsine.
“Having recently completed the transformative acquisition of Sierra Wireless, which doubled the size of Semtech, I believe now is the right time to enhance our operational focus with this new position. Asaf is a seasoned executive and has been an integral part of Semtech’s leadership team. I am confident his strong track record of operational performance will serve us well,” said Mr. Maheswaran, Semtech’s president and chief executive officer.
"I am humbled and thrilled to have been chosen as Semtech's new COO. With the tremendous momentum we have already established, I am confident that we are well positioned to achieve even greater success in the future and to drive growth and innovation across our business. I am excited to be part of such an exceptional organization as we continue to set new standards of excellence in our industry,” Mr. Silberstein said.
Maheswaran Retirement
Meanwhile, the company has announced that Mohan Maheswaran intends to retire from his role as Semtech’s president and chief executive officer after having served in such capacity for 17 years. Mr. Maheswaran has committed to providing 18 months of transition support to the company – continuing in his role as chief executive officer until a to-be-determined date as the company conducts a search for a new chief executive officer, and then continuing in a consulting role with the company for the balance of the 18 months. Mr. Maheswaran is expected to remain a member of Semtech’s board of directors until his retirement as Semtech’s president and chief executive officer.
Mr. Maheswaran was appointed Semtech’s chief executive officer in 2006 and has grown the company from approximately $200 million to over $1 billion in annual net revenues while also delivering record gross margin, record operating margin and record earnings through many semiconductor industry cycles. During his tenure as president and chief executive officer, Semtech completed numerous acquisitions, including the most recent acquisition of Sierra Wireless.
“The past 17 years at Semtech have been an incredible journey for me, and I am extremely proud of the numerous accomplishments over that time. We have built a strong company and team with a dynamic, innovative culture and with a portfolio of best-in-class growth engines in some of the most exciting growth markets in the industry. Semtech has now transformed itself, and, as we approach the next phase of growth, the time has come for me to retire and create a smooth transition to our next leader,” said Mr. Maheswaran. “I want to thank all of Semtech’s stockholders, customers, employees, and stakeholders who have enabled Semtech to become such a great company during my tenure.”
“Throughout his 17 years of exceptional leadership, Mohan has been a powerful and transformational CEO for Semtech, navigating the company through numerous challenges over the years, including geopolitical, COVID and other macro-related events, while leading the company through each phase of growth,” said Rock Hankin, Semtech’s chairman of the board. “We are grateful that he will remain with Semtech during our search for a new chief executive officer. On behalf of the Semtech board and Semtech’s past and present stockholders and employees, I thank Mohan for his dedication to excellence over the years leading Semtech.”
