Sitime Corporation (NASDAQ: SITM) has recently announced the appointment of Ganesh Moorthy to its board of directors, succeeding Tom Yiu. Under Yiu's guidance, the company's market cap grew from approximately $280 million at the IPO in 2019 to over $7 billion at present.
Ganesh Moorthy, who served as CEO, president, and board member at Microchip Technology Inc. until his retirement in November 2024, brings significant expertise in scaling an organization to multi-billion-dollar revenue. He expressed his excitement in joining Sitime's board at a pivotal moment of growth and expansion for the company, noting the company's contribution to the precision timing category and its impact on various technological domains.
Moorthy currently serves as the chair of the board of directors for Ralliant, a global test and measurement, and safety and sensor systems company. He also holds positions on the board of directors of Celanese, a global chemical and specialty materials company, and on the board of directors of Ayar Labs, a private venture-funded company specializing in optical interconnect solutions for large-scale AI workloads.
Sitime Corporation, known as the precision timing company, has shipped more than 3.5 billion devices, offering semiconductor MEMS programmable solutions that allow customers to differentiate their products with higher performance, smaller size, lower power, and better reliability. The market has reacted to these announcements by moving the company's shares -0.52% to a price of $288.50. Check out the company's full 8-K submission here.
