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Microchip Technology Appoints Long-Time TSMC Executive Rick Cassidy to Its Board of Directors

1. Rick Cassidy joins Microchip's Board of Directors from TSMC. 2. Cassidy brings expertise in corporate strategy and industry leadership. 3. Microchip aims for strategic growth with Cassidy's appointment. 4. The company serves 112,000 customers in various tech markets. 5. Cassidy emphasizes Microchip's commitment to innovation and customer satisfaction.

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Why Bullish?

Rick Cassidy's experience and leadership from TSMC may enhance Microchip's strategic direction, potentially boosting investor confidence and share value. Historically, board appointments from respected industry leaders often correlate with positive market reactions.

How important is it?

Cassidy's significant background in semiconductor strategy is likely to provide valuable insights. His appointment could catalyze growth strategies that align with market demands, increasing MCHP's competitive edge.

Why Long Term?

While Cassidy's immediate impact may be limited, his long-term influence on strategy could drive sustainable growth for Microchip, as seen in similar cases in the semiconductor industry.

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May 02, 2025 16:15 ET  | Source: Microchip Technology Inc. CHANDLER, Ariz., May 02, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that Rick Cassidy, Senior Vice President of Corporate Strategy Development at Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and Chairman of TSMC Arizona, will join the Board of Directors of Microchip effective May 2, 2025. Regarding Mr. Cassidy’s appointment to the board, Microchip’s President and CEO, Steve Sanghi, said, “We are thrilled to welcome Rick Cassidy to Microchip's Board of Directors. During his nearly three decades at TSMC, Rick has held significant leadership roles which include President and CEO of TSMC North America, and the founding President and CEO of TSMC Arizona, where today he holds the title of Chairman. He has been instrumental in shaping corporate strategy and driving the success of the fabless semiconductor model. Rick’s extensive background, which also includes key positions at National Semiconductor and service on the Global Semiconductor Alliance Board, brings invaluable expertise in strategy, customer trust, and industry leadership. We are confident that Rick will be a tremendous asset to Microchip, and we look forward to his contributions to our continued success.” Mr. Cassidy commented, “I am honored to join Microchip's Board of Directors and look forward to contributing to its ongoing achievements. Microchip's dedication to innovation and customer satisfaction aligns with my values, and I am excited to help drive strategic growth and further strengthen its position in the semiconductor industry.” About Microchip: Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve approximately 112,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com. The Microchip logo and name are registered trademarks of Microchip Technology Incorporated. INVESTOR RELATIONS CONTACT:Sajid Daudi -- Head of investor Relations (480) 792-7385

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