Cypress Semiconductor Corporation (NASDAQ:CY) reported the election of Jeannine Sargent to its board. Sargent has extensive experience of more than 30 years encompassing operations, marketing, engineering and leadership roles within a different mix of high tech systems and component firms across different industries. As part of her new role, she will serve on the firm’s Compensation Committee.
Cypress Semiconductor reported that in her recent profile as President of Innovation & New Ventures at Flex, a major contract design, manufacturing and engineering firm, Sargent headed the fastest expanding and highest margin design-supported operation, which was at the core of company’s long-term strategic development strategy.
Prior to this, she was President at Flex’s Energy segment, which she helped grow into an international multi-billion-dollar market pioneer focusing on renewable energy, solid-state lighting technologies, smart grid services and products.
In her career, Sargent has been on the post of CEO at both Voyan Technology and Oerlikon Solar. She currently serves on different advisory and investment boards and is on the trustees board at Northeastern University.
Steve Albrecht, the Chairman of Cypress, expressed that Sargent is another remarkable addition to company’s board. She strengthens their team with her extensive experience in growing profitable and innovative systems operations at the forefront of emerging, high tech markets. He is delighted for her valuable initiatives toward supporting the team as they continue implementing their plan to become the major embedded system solutions supplier firm in high-growth divisions including Industrial Automotive, and applications across the IoT.
In the last trading session, the stock price of Cypress declined 0.72% to close the day at $15.22. The decline came at a share volume of 3.04 million compared to average share volume of 5.71 million. After the recent decline, the market cap of firm was noted at $5.1 billion. CY has posted gains of over 33% so far in this year.