Sivers Semiconductors Announces Resignation of CEO Anders Storm

KISTA, Sweden, March 26, 2024 /PRNewswire/ -- Sivers Semiconductors AB (STO: SIVE), a leading supplier of lasers for AI photonics and integrated chips & modules for the most advanced communications and sensor solutions, today announced that CEO Anders Storm has decided to leave his position for new challenges outside the Company. Sivers has initiated a global search for a new CEO. Anders Storm will remain in his position until the new CEO has taken office or until the end of his six-month notice period, September 2024.

Bami Bastani, Chairman of the Board, expressed his appreciation for Storm's leadership role in the company over the past decade, "Anders has made significant contributions to Sivers Semiconductors by developing a global enterprise uniquely positioned in the emerging AI photonics market with its laser solutions and in Satcom space with its mmWave technology. In 2023, Sivers had a record revenue and growth year, acquiring new customers and broadening its product portfolio. We thank Anders and wish him all the best in his future endeavors."

"After a long and fruitful tenure, this has been a tough decision for me. Sivers is a fantastic company with great people and tremendous potential. I will continue to lead the organization with strong commitment and dedication for the remainder of my term at Sivers," said Anders Storm Group CEO.

For more information, please contact:
Dr. Bami Bastani, Chairman of the Board
Tel: +1 908 87 28 370
E-mail: [email protected]  

This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on March 26, 2024, 07:30 CET.

Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com.

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SOURCE Sivers Semiconductors