Everspin Technologies President and CEO Kevin Conley resigns, stock plunges 30%

Dec. 15, 2020 5:53 PM ETEverspin Technologies, Inc. (MRAM)By: Shweta Agarwal, SA News Editor
  • Everspin Technologies (NASDAQ:MRAM) announces that Kevin Conley has decided to resign as President and CEO of the company after his three years of leadership, effective Jan. 30, 2021.
  • Executive Chairman Darin Billerbeck will take up the interim CEO role.
  • Darin brings in experience in the semiconductor memory market, previously serving as the VP/GM of Intel’s Flash memory group, President and CEO of Zilog, and President and CEO of Lattice Semiconductor. He has served as a member of Everspin Technologies' Board since August 2018 and as non-executive Chairman of the Board since March 2019.
  • Updated Q4 2020 Guidance: Revenue now expected to range between $10.1M and $10.5M vs. consensus of $10.5M. The updated guidance compares to previous range of $10.1M to $10.9M.
  • Stock down 29.45% AH.

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