Power Integrations CEO to retire
Balu Balakrishnan, CEO of Power Integrations, is to retire. He will continue in the role until a successor is found and both internal and external candidates will be considered.
Balakrishnan, who is now 70, plans to serve as executive chairman of the company’s board for as long as is needed to ensure a smooth transition to his successor, and is expected to remain on the board of directors thereafter.
He joined Power Integrations in 1989 as an engineer shortly after its formation from National Semiconductor where he was a product-line manager. He has over 200 patents and was the inventor of the TOPSwitch, the company’s first commercial product, followed by TinySwitch for for reducing standby power.
He became president and chief operating officer in 2001 and took over as CEO in 2002, joining the company’s board of directors.
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“While it is time for me to turn over leadership of the company to a new CEO, I remain as passionate as ever about the work we are doing, and I believe exciting times are ahead. We have a talented, dedicated workforce and a promising array of products and technologies with which to pursue growth opportunities in a broad range of end markets. I look forward to working with our new CEO to ensure a smooth transition,” he said.
“The board and I congratulate Balu for all that he has achieved at Power Integrations, and we are delighted that he will continue to play an important role in the company’s future,” said Bala Iyer, lead independent director of the Power Integrations board.
“Balu is not only one of the great inventors in the history of the power semiconductor industry, but also an outstanding leader who has built a durable franchise with strong intellectual property, a deep reservoir of engineering talent and a culture that nurtures innovation. I am confident that we will identify an outstanding individual to lead the company in its next phase of growth, building on the strong foundation that Balu has put in place.”
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