Silicon Labs (SLAB) Announces CFO Transition

Silicon Labs (NASDAQ: SLAB), a leader in secure, intelligent wireless technology for a more connected world, announced that John Hollister will step down as chief financial officer (CFO) to join partner GlobalFoundries as its CFO. Mark Mauldin, Silicon Labs' chief accounting officer, will work closely with Hollister to transition responsibilities and will be named interim chief financial officer when the handover is completed by February 2, 2024. Silicon Labs is conducting a search for a new CFO to continue to scale the company as a leader in embedded wireless solutions for the Internet of Things.

"We thank John for his 20 years of service to Silicon Labs, ten of those as chief financial officer. His accomplishments in supporting Silicon Labs' growth clearly caught the attention of our long-standing partner, GlobalFoundries," said Matt Johnson, President and Chief Executive Officer at Silicon Labs. "Under John's financial leadership, Silicon Labs has consistently outperformed the market and established a strong foundation for continued long-term growth."

"I'm grateful for my time at Silicon Labs and proud of all that we've accomplished. Through a combination of strong organic growth, strategic M&A, disciplined financial management, and a pivotal divestiture two years ago, we have created the world's leading IoT pure-play company with the broadest range of technology. Based on record design win momentum, Silicon Labs has an extremely bright future," said John Hollister, the departing Chief Financial Officer at Silicon Labs. "After decades of professional opportunity and growth at Silicon Labs, I'm looking forward to taking on new challenges at GlobalFoundries, a familiar partner and one of the world's leading semiconductor foundries."

John joined Silicon Labs in 2004 and held a variety of financial management and operational positions until being named CFO in 2013. During his tenure, the company expanded its technology portfolio and global footprint, executed strategic acquisitions and a successful divestiture, and grew its revenue to become the largest wireless pure-play company and a leader in the IoT.

Silicon Labs is poised to continue to scale and grow as the semiconductor market recovers from a cyclical downturn. In its search for a new CFO, Silicon Labs will evaluate candidates for strengths in scaling companies and defining and managing financial strategies for rapid growth.

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