Everspin Appoints Semiconductor Storage Veteran Kevin Conley as CEO
August 23 2017 - 5:55AM
Everspin Technologies, Inc. (Nasdaq:MRAM), the world's leading
developer and manufacturer of Magnetoresistive Random Access Memory
(MRAM), today announced it had named Kevin Conley as its President
and Chief Executive Officer effective Sept. 1. Conley succeeds
Phill LoPresti as the company moves aggressively to capitalize on
Storage Class Memory opportunities with its MRAM technology
leadership.
“Kevin’s experience building high-growth technology businesses,
including a market leading SSD business at Flash memory pioneer
SanDisk, makes him an ideal selection to fulfill Everspin’s vision
of making high-endurance, fast, and persistent MRAM ubiquitous in
computing applications,” said Everspin lead Board Director Geoff
Tate.
Conley joined Everspin’s Board of Directors in March of 2017 and
has been active with the company in refining its strategy. Prior to
that, Conley was Senior Vice President and Chief Technology Officer
of SanDisk until June 2016, where he was focused on fostering
strategic innovation at the company. Previously, he served as
Senior Vice President and General Manager of SanDisk's Client
Storage Solutions business unit that he built from the ground up to
over $1 billion in annual revenue. As Vice President of Engineering
at Corsair, he transformed and expanded the product portfolio to
grow the company to a leader in PC gaming components, including
high performance SSDs. Prior to Corsair, Conley spent over 15 years
at SanDisk, holding several key system engineering leadership
positions developing leadership non-volatile memory products. He is
listed as the inventor or co-inventor on over 80 patents in the
area of non-volatile memory architecture and management.
“From wearables to self-driving cars to big data analytics in
the data center, there is an insatiable appetite developing for low
latency high endurance non-volatile memory,” said incoming Everspin
CEO Kevin Conley. “Everspin has been a MRAM technology pioneer and
its Spin-Torque MRAM (ST-MRAM) holds the potential to address this
market and disrupt the traditional computational memory hierarchy.
I am grateful for the exciting opportunity to lead this talented
team.”
“It has been an honor to work alongside the industry's most
successful MRAM team as well as with our incredible customers,
partners and investors for the past seven years. I am confident
Kevin's experience will help Everspin achieve its fullest potential
and I look forward to working closely with him to help ensure a
smooth transition,” said Everspin’s CEO Phill LoPresti.
LoPresti will step down as CEO and from the Everspin Board of
Directors, effective August 31, 2017, but will remain an advisor
for the following six months. “We appreciate Phill LoPresti’s seven
years of leadership, guiding Everspin through a period of continued
growth and through a NASDAQ IPO last year,” said Tate. “We wish him
well in his future endeavors.”
About Everspin
Everspin Technologies is the leading provider
of Magnetoresistive RAM (MRAM) solutions.
Everspin's MRAM solutions enable the protection of mission critical
data by combining the persistence of non-volatile memory with the
speed and endurance of SRAM or DRAM. Everspin's MRAM
solutions allow its customers in the industrial, automotive, and
enterprise storage markets to design high performance and reliable
systems. Everspin is the only provider of commercially available
MRAM solutions and has shipped over 70 million MRAM units. For more
information, visit www.everspin.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding
future events that involve risks and uncertainties that could cause
actual results or events to differ materially from the expectations
disclosed in the forward-looking statement, including, but not
limited to: the market may not adopt Everspin’s products and
technology at the rate Everspin expects; the ability for Everspin
to expand the markets Everspin addresses at the rate it expects;
the risk that unexpected technical difficulties may develop in the
final stages of development or production of its products; and the
risk that the integration of the CEO into his new role will take
longer than expected. Readers are advised that they should not
place undue reliance on these forward-looking statements and should
review the risk factors included in Everspin’s various filings with
the Securities and Exchange Commission, including, but not limited
to, in its Quarterly Report on Form 10-Q filed with the SEC on
August 11, 2017, Annual Report on Form 10K filed with the SEC on
March 29, 2017, under the caption “Risk Factors Related to Our
Business and Our Industry.” Subsequent events may cause these
expectations to change, and Everspin disclaims any obligations to
update or alter these forward-looking statements in the future,
whether as a result of new information, future events or
otherwise.
Everspin Investor Contact:
David H. Allen
408-427-4463
DAllen@DarrowIR.com
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