National Instruments (Nasdaq: NATI) has announced the appointment of Ritu Favre as senior vice president and general manager of the semiconductor business. In this role, Favre will set the strategic direction to drive business growth and build on the company’s positive momentum in the industry.
“Ritu brings more than 25-years-experience in the semiconductor industry and a deep understanding of our target market and customers. She is a proven leader with a passion to empower teams to achieve results,” said Eric Starkloff, NI president and COO. “We expect Ritu’s impressive track record for growth will make a significant impact on our semiconductor industry focus, which is already showing strong momentum. I am excited our industry leadership team is now complete.”
Favre is a seasoned high-tech industry leader with experience across general management and executive leadership roles in the RF and semiconductor industries. Most recently, she was CEO of NEXT Biometrics and served on the Cohu Board of Directors.
“I believe NI is well positioned to capture the tremendous opportunity that is occurring with the commercialisation of 5G and today’s software-centric smart devices.” Favre said. “I look forward to applying my experiences to help accelerate NI’s progress in the fast-paced semiconductor market, with a focus on driving sustained growth.”
Prior to her role as CEO of NEXT Biometrics, Favre built profitable businesses while holding senior management positions with market leaders such as Motorola, Freescale Semiconductor and Synaptics. She received her bachelor’s and master’s degrees in electrical engineering from Arizona State University.
This release contains “forward-looking statements” including statements regarding driving business growth and building on the company’s positive momentum in the industry, making a significant impact on our semiconductor industry focus which is already showing strong momentum, NI being well positioned to capture the tremendous opportunity that is occurring with the commercialisation of 5G and today’s software-centric smart devices, and help to accelerate NI’s progress in the fast-paced semiconductor market, with a focus on driving sustained growth. These statements are subject to a number of risks and uncertainties, including the risk of adverse changes or fluctuations in the global economy, further adverse fluctuations in our industry, foreign exchange fluctuations, fluctuations in demand for NI products including orders from NI’s large customers, component shortages, delays in the release of new products, the company’s ability to effectively manage its operating expenses, manufacturing inefficiencies and the level of capacity utilisation, the impact of any recent or future acquisitions by NI, expense overruns, and adverse effects of price changes or effective tax rates. Actual results may differ materially from the expected results. The company directs readers to its Form 10-K for the year ended Dec. 31, 2018, its Form 10-Q for the quarter ended March 31, 2019 and the other documents it files with the SEC for other risks associated with the company’s future performance.
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