Microchip CEO to review company from ‘top to bottom’ within 90 days

CHANDLER, AZ — Microchip Technology Inc.’s top executive intends to conduct a comprehensive review of the Chandler-based semiconductor company’s operations after it announced plans to close its Tempe chip factory to cut costs.

Microchip (Nasdaq: MCHP) CEO Steve Sanghi said he’ll review the company’s entire operations from “top to bottom” and outlined a multiple-point plan to do so within 90 days during a presentation Tuesday at the UBS Global Technology and AI Conference. The conference, which features several panels with technology industry leaders, is taking place Dec. 2-5 in Scottsdale.

Sanghi’s plan consists of resizing Microchip’s manufacturing footprint, reducing inventory levels, examining its business model and distribution channel strategy, strengthening customer relationships, and addressing CHIPS Act funding negotiations.

“And the plan is to get this accomplished in 90 days. I don’t know how much of it gets done, but that’s what the attempt will be,” he said.

Read more of this story from the Business Journal.