Allegro MicroSystems Appoints Derek D’Antilio as Chief Financial Officer
Company thanks retiring CFO Paul Walsh for 7 years of service
Manchester, NH – Allegro MicroSystems, Inc. (Nasdaq: ALGM) (“Allegro”), a global leader in sensing and power semiconductor technology, today announced that Paul Walsh, current Senior Vice President Chief Financial Officer (CFO) and Treasurer, will be retiring. He will be succeeded by Derek D’Antilio, who was selected after an extensive search and will be joining the Allegro management team effective January 10, 2022. Mr. Walsh will remain in an advisory capacity until February 4, 2022, to ensure a smooth and orderly transition of responsibilities.
Mr. D’Antilio will report to Ravi Vig, President and Chief Executive Officer, and will oversee the company’s global finance team. He joins Allegro with more than 20 years of financial and operating experience in semiconductor and high technology companies and is an accomplished CFO who brings a broad range of financial experience, including a background with global public companies in corporate finance, strategic planning, M&A, capital raising efforts and investor relations.
Prior to joining Allegro, Mr. D’Antilio most recently served as the Chief Financial Officer of a Summit Partners Portfolio Company and helped lead the recent sale and recapitalization of the company. From Feb 2019 to March 2021, he served as the Chief Financial Officer of IDEX Biometrics, a publicly traded and global fabless semiconductor company, where he played an instrumental role in leading a Nasdaq listing and preparing the company to scale its production. Prior to IDEX Biometrics, Mr. D’Antilio spent eight years at MKS Instruments, a global equipment and service provider to semiconductor and industrial markets and held numerous leadership roles including Vice President & Corporate Controller, where he oversaw global accounting and reporting, FP&A, and treasury. Earlier in his career, Mr. D’Antilio was a CPA in public accounting and served as an audit manager at PwC. Mr. D’Antilio holds a B.S.B.A in Accounting from Salem State University and an M.B.A. from Babson College.
“Derek has the right mix of business acumen and expertise to continue where Paul left off and help us reach new heights in terms of our financial objectives and long-term goals,” said Ravi Vig, President and Chief Executive Officer of Allegro. “We expect he will hit the ground running.”
“I am excited and honored to join Allegro at this important phase in the company’s journey to deliver innovative technologies for a safer, more sustainable future. Paul and the Allegro finance team have built a high performing finance function, and I look forward to continuing the good work with the team to execute on our strategies and deliver value to our shareholders,” commented Mr. D’Antilio.
Mr. Walsh joined the company in 2014, has a long history in the industry and helped build the company’s financial discipline and rigor, ultimately supporting a successful IPO in October 2020.
“Paul has been instrumental in guiding and supporting our strategic transformation that is now bearing fruit in terms of record growth and profitability,” continued Mr. Vig. “Paul was a great partner for me as we led Allegro through our journey to become a successful public company. I fully support his decision to retire and wish him the very best as he begins his next chapter. He leaves us with a strong financial foundation and a commitment to strong business fundamentals that will be a lasting legacy to Allegro.”
“Being a part of the Allegro staff and seeing the fulfillment of our goal to become a public company has been a satisfying culmination to my years as a CFO. I couldn’t be prouder of this team for all that we’ve accomplished,” said Paul Walsh. “As I look forward to my retirement, I have a great deal of confidence in Allegro and Derek. I believe they have all of the right ingredients to continue to deliver on the company’s strategic objectives.”
About Allegro MicroSystems
Allegro MicroSystems is a leading global designer, developer, fabless manufacturer and marketer of sensor integrated circuits (“ICs”) and application-specific analog power ICs enabling emerging technologies in the automotive and industrial markets. Allegro’s diverse product portfolio provides efficient and reliable solutions for the electrification of vehicles, automotive ADAS safety features, automation for Industry 4.0 and power saving technologies for data centers and green energy applications.
Forward-Looking Statements
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