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Allegro MicroSystems Appoints Rick Madormo as Senior Vice President of Worldwide Sales

1. Rick Madormo appointed Senior VP of Worldwide Sales at Allegro. 2. He succeeds Max Glover, who transitions to an advisory role. 3. Madormo brings over 25 years of semiconductor sales experience. 4. His expertise aims to drive growth in e-Mobility and industrial markets. 5. Allegro focuses on enhancing efficiency and sustainability with innovative tech.

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Why Bullish?

The appointment of an experienced leader aligns with growth strategies, historically driving share price increases.

How important is it?

Leadership changes can significantly impact company direction and sales performance, influencing stock value.

Why Long Term?

Leadership changes often lead to sustained improvements over time, similar to previous Executive transitions in tech.

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MANCHESTER, N.H., March 12, 2025 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Rick Madormo as Senior Vice President of Worldwide Sales, effective March 24, 2025. Rick will be responsible for leading Allegro's global sales organization and driving revenue growth across automotive and industrial end markets, succeeding Max Glover. Max will transition into an advisory role until his departure on May 16, 2025. "We are thrilled to welcome Rick to Allegro," said Mike Doogue, President and Chief Executive Officer. "His semiconductor industry background aligns perfectly with our strategic focus on driving growth across the e-Mobility and industrial markets. We are confident that his results-driven expertise, coupled with Allegro’s leading sensing and power technology, will be instrumental in driving Allegro's continued success. I would like to thank Max for his many contributions to Allegro, including his role in the strategic expansion of our sales teams to gain access to market leading customers, helping us to achieve record sales.” "I am incredibly excited to join Allegro and to lead its world-class sales team," said Rick Madormo. "Allegro's differentiated sensing and power technologies are uniquely positioned to address the mega-trends of electrification and automation. I am eager to collaborate with the team to leverage our strengths, drive exceptional customer value and achieve continued sales growth." Rick Madormo brings more than 25 years of sales experience in the semiconductor industry to Allegro. He most recently served as Senior Vice President of Global Sales and Marketing at Wolfspeed, where he led a global team and oversaw the growth, strategy and operations of the entire sales organization, achieving record-setting results. Rick was instrumental in Wolfspeed’s transformation from an LED lighting company to a leader in Silicon Carbide. Prior to Wolfspeed, Rick served as Vice President of Americas Sales at Intel and held several sales leadership positions during his tenure at Altera. Rick holds a B.S. in electrical engineering technology from The University of Akron. About Allegro MicroSystems Allegro MicroSystems, Inc. is leveraging more than three decades of expertise in magnetic sensing and power ICs to propel automotive, clean energy and industrial automation forward with solutions that enhance efficiency, performance and sustainability. Allegro’s commitment to quality drives transformation across industries, reinforcing our status as a pioneer in “automotive grade” technology and a partner in our customers’ success. For additional information, visit www.allegromicro.com. Contact: Jalene HooverVP of IR & Corporate CommunicationsPhone: +1 512 751 6526jhoover@allegromicro.com

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