Enovix Announces CTO and CCO Transitions
January 23 2023 - 4:01PM
Enovix Corporation (“Enovix”) (Nasdaq: ENVX), the leader in the
design and manufacture of next generation 3D Silicon™ Lithium-ion
batteries, today announced that Ashok Lahiri will retire as Chief
Technology Officer (CTO), effective February 1, 2023, but will
continue to support the company by leading its technical advisory
board, in addition to other advisory and support roles.
Enovix also announced that Chief Commercial Officer Cam Dales
will also depart on February 1, 2023. Ralph Schmitt, Enovix’s
current Senior Vice President of Sales and Business Development,
will succeed Dales as Chief Commercial Officer, also effective
February 1, 2023.
“Enovix is fortunate to have a strong team in place to execute
on our plans to take our groundbreaking battery technology and
scale up manufacturing in the coming years,” said Raj Talluri,
President and CEO of Enovix. “I want to thank Ashok and Cam for
putting Enovix in a leadership position and I look forward to
Ashok’s continuing involvement.”
Talluri continued, “As we move this breakthrough technology from
the business development phase to the volume production phase, an
organization that is nimble and customer focused is what Enovix
needs. Collapsing all commercial functions under an experienced
leader like Ralph is ideal.”
Lahiri said, “I believe Enovix has the technology to win, and I
want to remain close to it with my new advisory role. After
spending the last 16 years building the company from scratch, now
is a good time for me personally to retire from the CTO position as
Enovix has a seasoned, well-established engineering and technical
leadership team.”
Dales said, “After almost 14 years building our commercial
strategy and team, now is a good time for me personally to step
aside. Enovix customers and partners are in great hands with Ralph
leading the commercial team and Raj positioning the company to
scale.”
Schmitt has served in his current role at Enovix since January
2021. Prior to joining Enovix, he served as CEO of multiple
semiconductor companies, including PLX Technology (acquired by
Broadcom) and OCZ Technology (acquired by Toshiba). Schmitt spent
the earlier part of his career at Cypress Semiconductor, including
as Executive Vice President of Sales, Marketing and Business
Development.
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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