RoodMicrotec Appoints New CEO to Lead Growth Fuelled by Rise of "Internet of Things"

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RoodMicrotec, the Dutch semiconductor supplier of advanced microchips critical to communication in the rapidly expanding electric automotive, industrial and medical sectors, has promoted Chief Technical Officer Martin Sallenhag as new CEO, replacing ...

RoodMicrotec, the Dutch semiconductor supplier of advanced microchips critical to communication in the rapidly expanding electric automotive, industrial and medical sectors, has promoted Chief Technical Officer Martin Sallenhag as new CEO, replacing Philip Nijenhuis, to lead its growth in the potentially vast market for the "Internet of Things."

Martin Sallenhag said: "RoodMicrotec sits at the centre of the web of the smart technologies that are driving the evolution of the Internet of Things, particularly the potential offered by electric cars.  We are on the brink of an exceptional period of growth in the company's history and in the pivotal position of enabling truly futurist ideas to become reality. I would like to warmly thank Philip Nijenhuis for everything he has achieved in steering RoodMicrotec to the market leading role it occupies today."

Sallenhag has previous experience in engineering, applied technology and product marketing, among other sectors, at Ericsson Mobile Phones, Dialog Semiconductor and Samsung Electronics. He joined RoodMicrotec in March 2015.

His appointment, part of a proposed management re-structuring plan, was approved at the company's Annual General meeting in early June. Philip Nijenhuis is stepping back to join RoodMicrotec's Supervisory Board as a non-executive director. The restructuring involves a transition to a single unified Board from the existing dual Supervisory and Management Boards, subject to final approval by an extraordinary shareholders' meeting to be held at the earliest opportunity. Reinhard Pusch has also been appointed Chief Operating Officer, from his previous roles as Vice President and CSO.

RoodMicrotec supplies chips to 'fabless companies' (companies that design, but do not manufacture) and OEMs (Original Equipment Manufacturers) and is primarily focused on the automotive industry (growing at 11% per year) as well as the manufacturing of industrial and medical equipment (growing at 6% per year). The expansion of these sectors is expected to be given further momentum by the predicted tectonic shift in global markets towards the Internet of Things (IoT).
The IoT refers to networks of physical objects, including devices, vehicles, buildings and other items, which are embedded with electronics and software that enables them to collect and exchange data. Worldwide, the market in IoT applications is still in its infancy but is predicted to grow strongly given demand and new capabilities for comprehensive, intelligent interaction of physical objects.

In particular, the automotive industry that sits at the core of RoodMicrotec's activities, is on the verge of an IoT breakthrough. Historically, automotive product enhancements have centred around engine performance and design, but as production of electric vehicles scales up, the potential to link cars to other goods and functions such as energy, healthcare, retail and financial services through the Internet of Things grows exponentially.
Norway, where 24% of all new cars sold are already electric, is now discussing a total ban on the sale of fossil fuel-powered cars by 2025. Globally, as the range and reliability of electric cars improves, and their cost becomes competitive, their share of the total vehicle market will surge. Associated developments include self-driving vehicles for commercial, industrial and private use. RoodMicrotec expects this to trigger an explosion in demand for smart microchip expertise, which will eventually lead to a standardisation of industry protocols.
Philip Nijenhuis, who has been CEO since he joined RoodMicrotec 12 years ago, will continue to have significant input into all aspects of the business to ensure continuity within the new management structure.

Philip Nijenhuis said: "RoodMicrotec started 40 years ago as a basic testing house. By the time I joined it had grown into a typical sub-contracting company with a specific role supplying parts to the industry. Now we are a high-end 'bespoke' semi-conductor company co-designing sophisticated devices for a range of partners, with a strong presence all along the industry's value and supply chains."

About RoodMicrotec

With more than 45 years' experience as an independent value-added service provider in the area of micro and optoelectronics, RoodMicrotec offers Fabless Companies, OEMs and other companies a one-stop shop proposition. With its powerful solutions RoodMicrotec has built up a strong position in Europe.

Our services comply with the industrial and quality requirements of the high reliability/space, automotive, telecommunications, medical, industrial and electronics sectors.

Certified by RoodMicrotec concerns inter alia certification of products to the stringent ISO/TS 16949 standard that applies to suppliers to the automotive industry. The company also has an accredited laboratory for test activities and qualification to the ISO/IEC 17025 standard.

Its value-added services include (eXtended) supply chain management and total manufacturing solutions with partners, failure & technology analysis, qualification & burn-in, test & product engineering, production test (including device programming and end-of-line service), ESD/ESDFOS assessment & training and quality & reliability consulting.

RoodMicrotec has branches in Germany (Dresden, Nördlingen, Stuttgart), United Kingdom (Bath) and the Netherlands (Zwolle).

For more information visit http://www.roodmicrotec.com

Further information
Martin Sallenhag, CEO, Reinhard Pusch, COO, Erwin Vrielink, CFO, Philip Nijenhuis
Telephone: +31 38 4215216
Postal address:
RoodMicrotec N.V., PO Box 1042, 8001 BA  Zwolle
Email:       investor-relations@roodmicrotec.com
Web:              www.roodmicrotec.com

This press release is published in English and Dutch (and German). In case of conflict between these versions the English version shall prevail.




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RoodMicrotec N.V. via Globenewswire

HUG#2022925

Source(s) : RoodMicrotec N.V.

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