Steve Sanghi named Person of the Year
IndUS Business Journal Announces 2006 Person of the Year and Other National Business Awards
WALTHAM, Mass. March 15th 2006 - The IndUS Business Journal, the nation’s leading business newspaper covering Indian and South Asian businesses, today announced it’s 2006 “Person of the Year” and other national business awards. All the winners will be honored on Thursday, April 27th, 2006 during an awards gala dinner at the Boston Newton Marriott Hotel in Newton, Mass.
Steve Sanghi, chief executive and chairman of Arizona-based Microchip Technology Inc., a publicly traded maker of microcontroller and analog semiconductors, was named the publication’s “Person of the Year.” Sanghi joined Microchip in 1990 as president and led a turnaround of the company. Last year, Microchip totaled $846.9 million in sales, up from $699.3 in 2004. The company has the best performing stock in the semiconductor industry. The company also boasts the highest operating profits in the semiconductor industry (36 percent last quarter). Since going public, Microchip has increased its market capitalization from $81 million to $6.75 billion. Sanghi has also authored a recently published book about Microchip’s success called, “Driving Excellence: How the Aggregate System Turned Microchip Technology from a Failing Company to a Market Leader.”
Before joining the Microchip, Sanghi was Vice President of Operations at Waferscale Integration, Inc., a semiconductor company, from 1988 to 1990. Mr. Sanghi was employed by Intel Corporation from 1978 to 1988, where he held various positions in management and engineering, the most recent serving as General Manager of Programmable Memory Operations. Mr. Sanghi holds a Masters of Science degree in Electrical and Computer Engineering from the University of Massachusetts and a Bachelor of Science degree in Electronics and Communication from Punjab Engineering College at Chandigarh, India.
The newspaper also announced national awards for individuals and companies in 13 business categories.
“During the past year, these individuals and companies made significant contributions to the U.S. economy, Indo-U.S. economic ties as well as the influential South Asian business community in the United States,” said Peter Glaser, publisher of IndUS Business Journal. “We are very proud to honor these entrepreneurs and companies.”
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