Enovix Names Ajay Marathe COO
November 10 2022 - 12:30PM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the
design and manufacture of next generation 3D Silicon™ Lithium-ion
batteries, today announced the appointment of Ajay Marathe as COO
reporting to CEO Harold Rust.
Marathe's 38-year career includes stints as COO, CIO and
foreign-subsidiary CEO of major technology companies including
Western Digital Corporation, Lumileds LLC and Advanced Micro
Devices, where he served for 23 years first as Thailand Plant
Manager responsible for assembly and test of six million units per
week, and then VP of Operations of the 2,500-employee Computation
Products group, and then VP of Operations for all Asian assembly
and test, and finally CEO of the AMD India LLC startup created to
serve the entire country.
Post AMD, he has also held positions as the COO of Lumileds, a
$1.4 billion lighting company, and SVP of Global Operations at
Western Digital, a $17 billion storage solution company.
Enovix CEO, Harold Rust said, "We wanted to find a senior
semiconductor executive who thinks ‘millions not thousands’ and
scored with Ajay, a known Silicon Valley industry figure.”
Enovix Executive Chairman TJ Rodgers said, "When I was Cypress’s
CEO, I tried to hire Ajay as the VP of our assembly and test
operations in the Far East, but AMD won that battle and kept him
with serial promotions for 23 years. Now I'm overjoyed that this
deeply talented manufacturing expert is on our team.”
About Enovix
Enovix is the leader in advanced silicon-anode lithium-ion
battery development and production. The company's proprietary 3D
cell architecture increases energy density and maintains high cycle
life. Enovix is building an advanced silicon-anode lithium-ion
battery production facility in the U.S. for volume production. The
company's initial goal is to provide designers of category-leading
mobile devices with a high-energy battery so they can create more
innovative and effective portable products. Enovix is also
developing its 3D cell technology and production process for the
electric vehicle and energy storage markets to help enable
widespread utilization of renewable energy. For more information,
go to www.enovix.com.
Forward Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended, about us and our
industry that involve substantial risks and uncertainties.
Forward-looking statements generally relate to future events or our
future financial or operating performance. In some cases, you can
identify forward-looking statements because they contain words such
as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”,
“intend”, “should”, “plan”, “expect”, “predict”, “could”,
“potentially", “target”, “project”, “believe”, “continue” or the
negative of these terms or similar expressions. Forward-looking
statements in this press release include, but are not limited to,
statements regarding the design and performance of our lithium ion
battery solutions. Actual results could differ materially from
these forward-looking statements as a result of certain risks and
uncertainties, including, without limitation, the risks set forth
under the caption “Risk Factors” in the Form 10-Q that we filed
with the Securities and Exchange Commission (the “SEC”) on November
4, 2022, and additional information that will be set forth on our
Annual Report on Form 10-K for the year ended January 2, 2022 and
other documents we have filed, or that we will file, with the SEC.
Any forward-looking statements made by us in this press release
speak only as of the date on which they are made and subsequent
events may cause these expectations to change. We disclaim any
obligations to update or alter these forward-looking statements in
the future, whether as a result of new information, future events
or otherwise, except as required by law.
For investor and media inquiries, please contact:
Enovix CorporationCharles AndersonPhone: +1 (612) 229-9729Email:
canderson@enovix.com
or
The Blueshirt GroupGary Dvorchak, CFAPhone: (323) 240-5796Email:
gary@blueshirtgroup.com
For media inquiries, please contact:
Enovix CorporationKristin AtkinsPhone: +1 (650) 815-6934Email:
katkins@enovix.com
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