MosChip elevates Sri Lakshmi Simhadri to VP-Head of Semicon BU

India-based semiconductor company MosChip Technologies has appointed Sri Lakshmi Simhadri as the vice president-head of the Semicon business unit. Previous to her new appointment, Simhadri was working as the assistant vice president in the Semicon business unit of the BSE-listed company.

An industry veteran, Simhadri has over three decades of experience in the semiconductor industry with specialisation in CAD, design, emulation, and implementation. In the past, she has worked with companies such as Cyient, Philips Semiconductor (now NXP Semiconductors), and STMicroelectronics. Simhadri has completed her MS in Computer Science from New Jersey Institute of Technology.

To be sure, MosChip appointed Srinivasa Rao Kakumanu as the chief executive officer and managing director in October 2023. Like Simhadri, he was also promoted from his previous role as the Executive Vice President of the semiconductor business unit to the current position.

Last year, the company also announced $17.25 billion acquisition of California based company Softnautics, which focuses on product engineering solutions in embedded, FPGA, and VLSI. “The acquisition of Softnautics brings highly complementary set of engineering skills, customers, markets & world-class talent along with leadership. Softnautics has established strong customer relationships with top-tier companies across North America and will add over 185 employees to current MosChip talent pool across various domains,” MosChip had said in its release.

To be sure, in 2023, the global semiconductor revenue was $533 billion, registering a decrease of 11% from 2022, a report from Gartner has shown. “The underperforming market also negatively impacted several semiconductor vendors. Only 9 of the top 25 semiconductor vendors posted revenue growth in 2023, with 10 experiencing double-digit declines,” said Alan Priestley. The combined semiconductor revenue of the top 25 semiconductor vendors declined 14.1% in 2023, accounting for 74.4% of the market, down from 77.2% in 2022.