Management ChangeMay 13, 2026, 04:18 PM
Allegro MicroSystems Appoints Robert Willett to Board
AI Summary
Allegro MicroSystems, Inc. announced the appointment of Robert J. Willett as an independent director to its Board, effective May 13, 2026. Mr. Willett will also serve on the Audit and Compensation Committees, and the Board's size was expanded to ten members. This appointment follows the decisions by Susan D. Lynch and Richard R. Lury not to stand for re-election at the 2026 Annual Meeting, with their service terminating prior to the meeting. The company stated their departures were not due to any disagreements.
Key Highlights
- Robert J. Willett appointed as an independent Class III Director to Allegro MicroSystems' Board, effective May 13, 2026.
- Mr. Willett will serve on the Board's Audit Committee and Compensation Committee.
- The Board's size was expanded to ten members with Mr. Willett's election.
- Susan D. Lynch and Richard R. Lury will not stand for re-election and will depart prior to the August 5, 2026 Annual Meeting.
- Mr. Willett qualifies as an independent director and an "audit committee financial expert" per SEC regulations.
- He brings over two decades of experience, including 14 years as CEO of Cognex Corporation.
- Mr. Willett will receive standard non-employee director compensation, pro-rated from his election date.
Price Impact
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