Valens Semiconductor appoints Igal Rotem to board of directors

Valens Semiconductor (NYSE: VLN) announced that its board of directors appointed Igal Rotem as a new board member, effective immediately. Rotem replaces Michael Linse, who served as a board member and shareholder since 2018.

The board made the decision during a meeting on August 25, according to the company's statement. Rotem brings experience as a high-tech executive and serial entrepreneur to his new role.

Rotem most recently served as Chairman of Shift4 EU Bank following its $575 million acquisition by Shift4 Inc. He previously spent more than a decade as CEO and Chairman of Finaro, formerly known as Credorax, leading the digital payment processing company before its sale to Shift4.

Earlier in his career, Rotem co-founded PowerDsine, a Power over Ethernet technology company. He served as CEO and led the company through a NASDAQ IPO and its subsequent $246 million acquisition by Microsemi.

"Igal's experience, both as a CEO and as a chairman of private and public tech companies, will bring a valuable perspective to our team," said Dr. Peter Mertens, Chairman of the Board at Valens Semiconductor.

CEO Gideon Ben-Zvi noted Rotem's background in scaling businesses, including as founder and CEO of a semiconductor company. "His proven ability to drive strategic growth and foster innovation will be instrumental as we continue to expand our technology leadership across multiple industries," Ben-Zvi said.

Valens Semiconductor develops high-performance connectivity chipsets for audio-video installations, videoconferencing, and automotive applications. The company is based in Hod Hasharon, Israel.

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