BLOOMINGTON, MN – SkyWater Technology, Inc. (NASDAQ:SKYT), a semiconductor and related devices manufacturer, announced a change in its board composition. Chunyi (Amy) Leong, a member of the company's Board of Directors, has decided to resign, effective September 29, 2024. According to the company's filing with the Securities and Exchange Commission, Ms. Leong's departure is not due to any disagreements with the company regarding its operations, policies, or practices.
The announcement was made in a Form 8-K filing, a mandatory report of significant events that shareholders must be informed about, which was submitted to the SEC. The resignation was reported to have occurred on Sunday, with the formal date of effect being set for the end of next week.
SkyWater Technology, based in Bloomington, Minnesota, operates within the semiconductor sector under the SIC code 3674. Its fiscal year ends on December 29. The company, formerly CMI Acquisition, LLC, was incorporated in Delaware and listed on the Nasdaq Stock Market LLC.
The company has not yet announced a successor to Ms. Leong or detailed any changes to its board's structure following her departure. The transition appears to be amicable, as the company has emphasized that there is no conflict underlying Ms. Leong's decision to resign.
Investors and stakeholders will be watching closely to see how SkyWater Technology manages this transition and what impact, if any, it will have on the company's governance and strategic direction. The company's stock, traded under the ticker SKYT, may reflect the market's response to this board-level change in the coming days and weeks.
This article is based on a press release statement from SkyWater Technology, Inc. and the information in the Form 8-K filed with the SEC.
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