Enovix Appoints Raj Talluri as CEO
December 29 2022 - 4:01PM
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 Dr. Raj Talluri as
President and Chief Executive Officer, effective January 18, 2023.
Talluri is also expected to be appointed to the Enovix board of
directors on a later date. Talluri replaces CEO and Co-Founder
Harrold Rust, who is retiring from his position and the board but
will serve in an advisory capacity to support the leadership
transition.
Talluri brings a strong track record of leading successful
high-volume and highly profitable semiconductor franchises with a
specific focus on the portable electronics market over a nearly
30-year career. Talluri joins Enovix from Micron Technology Inc.,
where he served as Senior Vice President and General Manager of its
Mobile Business Unit, with worldwide revenue greater than $5
billion. Prior to Micron, Talluri was Senior Vice President
responsible for Qualcomm Inc.’s IoT business unit, where he drove
the division from incubation stage to over $1 billion in product
revenue. During his Qualcomm tenure, he also led product management
for the company’s flagship Snapdragon applications processor
business including ownership of product roadmaps targeting
smartphones, tablets and automotive. Talluri began his career at
Texas Instruments as a member of the technical staff and then
successively led product groups and business units over a 16-year
tenure culminating with becoming general manager of the OMAP
wireless terminals business unit, an over $750 million revenue
business with over 800 employees throughout North America, Europe,
and Asia.
Enovix Executive Chairman T.J. Rodgers said, "Raj possesses both
strong technical competency and a track record of having run with
full P&L responsibility several of the most successful and
profitable semiconductor franchises globally targeting portable
electronics. He intimately understands the business processes
necessary to translate compelling technology into sustainable
product leadership at significant scale and at low cost. Enovix has
built and demonstrated with leading customers a battery
architecture with significant competitive advantages in performance
and now is the time to build a company that can truly transform the
Lithium-ion battery industry. I would like to thank Harrold Rust
for his many years of leadership in building the company and for
supporting a smooth transition ahead of his retirement.”
Talluri said, “I am deeply honored to be given the opportunity
to lead Enovix. Many of the key technologies of the future, from
portable electronics to EVs, rely on significant advances in
battery technology and Enovix is the leader in this space. I am
looking forward to leveraging my experience and leading the company
to deliver advanced, high-performance products at scale.”
Rust added, “After starting the company over 15 years ago with
life-long friends and colleagues it’s time for me to pass the baton
to a new leader who can take Enovix to the next level. I couldn’t
be more excited that Raj has chosen to continue our mission of
creating a better world through innovation in energy storage.”
Talluri holds a Ph.D. in Electrical Engineering from the
University of Texas at Austin, a Master of Engineering degree from
Anna University in Chennai, India, and a Bachelor of Engineering
from Andhra University in Waltair, India. He holds 13 patents in
image processing, video compression and media processor
architectures.
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. Actual results
could differ materially from these forward-looking statements as a
result of certain risks and uncertainties. For additional
information on these risks and uncertainties and other potential
factors that could affect our business and financial results or
cause actual results to differ from the results predicted, please
refer to our filings with the Securities and Exchange Commission
(the “SEC”), including in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of our most recently filed annual periodic
reports on Form 10-K and quarterly report on Form 10-Q and other
documents that 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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