Recent developments in the executive landscape have seen significant leadership changes at Microchip Technology Inc. and Menlo Microsystems, alongside an amended employment agreement for Verizon Communications’ Daniel H. Schulman.
Richard J. Simoncic Departs Microchip for Menlo Microsystems CEO Role
Richard J. Simoncic has tendered his resignation as Chief Operating Officer (COO) of Microchip Technology Inc. (MCHP), effective August 17, 2026. Simoncic is set to assume the pivotal role of Chief Executive Officer (CEO) at Menlo Microsystems Inc., a privately held company based in Irvine, California, specializing in high-performance electronic switches and its proprietary “Ideal Switch®” technology.
Simoncic’s departure marks a notable shift for Microchip Technology, a semiconductor industry leader with a market capitalization of approximately $42.82 billion. This transition is expected to influence Microchip’s strategic direction and operational efficiency amidst a competitive market. Insider activity at Microchip Technology over the past three months shows sales totaling $14.8 million without corresponding purchases, which some analysts interpret as a potential indication of insider confidence levels.
At Menlo Microsystems, Simoncic will take over from current CEO Russ Garcia. His appointment follows the company’s prior move in June 2023 to name Yalcin Bulut as its first Chief Operating Officer, signaling a build-up in its executive leadership as it prepares for future growth under new stewardship.
Daniel H. Schulman’s Amended Employment Agreement at Verizon
In related executive news, Daniel H. Schulman, a key executive at Verizon Communications (VZ), has entered into an amendment to his employment letter agreement. The initial agreement was established on October 13, 2025, with a previous amendment on January 9, 2026. Specific details regarding the nature of the recent amendment were not immediately disclosed, though such changes often reflect adjustments in compensation, roles, or contractual terms.
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