SiC

Chris Allexandre will succeed founder Gene Sheridan as Navitas Semiconductor’s CEO, effective September 1, 2025. Allexandre, formerly a Senior VP at Renesas, brings over 25 years of semiconductor experience spanning power management across diverse sectors. This appointment aims to accelerate Navitas’ growth in AI data centers and energy infrastructure, leveraging its GaN and SiC technologies. The transition marks a strategic pivot towards higher-power markets, but the departure of the founding CEO could create uncertainties.

Wolfspeed, a SiC semiconductor leader, filed for Chapter 11 bankruptcy to restructure and reduce its $6.5 billion debt. The company secured $275 million in financing and aims to exit bankruptcy by Q3. Facing headwinds including reduced EV demand, high cash burn, and delayed government funding, Wolfspeed is restructuring to focus on high-growth sectors while cutting costs and shedding operations. This move highlights the semiconductor industry’s volatility, particularly impacting EV and renewable energy.