The Investor
03 Feb 2025, 17:00
Allegro MicroSystems announced the election of Krishna G. Palepu to its Board of Directors as a Class II Director, effective January 31, 2025. He will serve until the company's 2025 annual meeting of shareholders and will also take on the role of Chairperson and member of the Nominating and Governance Committee, as well as a member of the Strategy Committee.
The Board has determined that Dr. Palepu qualifies as an independent director under Nasdaq and SEC rules. His appointment fills a vacancy on the Board, as outlined in the company's Stockholders Agreement with Sanken Electric Co., Ltd.
In connection with his appointment, the company entered into an indemnification agreement with Dr. Palepu, and he will receive the same compensation as other directors, prorated from the date of his election.
The Board has determined that Dr. Palepu qualifies as an independent director under Nasdaq and SEC rules. His appointment fills a vacancy on the Board, as outlined in the company's Stockholders Agreement with Sanken Electric Co., Ltd.
In connection with his appointment, the company entered into an indemnification agreement with Dr. Palepu, and he will receive the same compensation as other directors, prorated from the date of his election.