Power Integrations (NASDAQ: POWI) has announced the departure of Sandeep Nayyar, who has been serving as the company's Chief Financial Officer since 2010. Eric Verity, a senior director of finance and a longstanding member of the finance leadership team, will step in as the interim CFO while the company conducts its search for a new CFO.
Despite this transition, Power Integrations has reaffirmed its third-quarter financial outlook, which was initially provided on August 6, 2025. Jennifer Lloyd, the President and CEO of Power Integrations, expressed gratitude for Nayyar's contributions, stating that his expert stewardship has provided the company with a strong financial foundation to pursue its growth strategy.
Nayyar, on the other hand, expressed pride in the accomplishments of the finance and HR teams during his tenure, and he leaves with confidence in the company's financial standing, noting the capable leadership of Jen Lloyd.
Power Integrations, Inc. specializes in semiconductor technologies for high-voltage power conversion, with its products playing a crucial role in the clean-power ecosystem, facilitating the generation of renewable energy and the efficient transmission and consumption of power across various applications. Today the company's shares have moved 0.23% to a price of $43.05. If you want to know more, read the company's complete 8-K report here.
