SAN JOSE, Calif., June 25, 2010 (GLOBE NEWSWIRE) -- Power Integrations (Nasdaq:POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced that Sandeep Nayyar has been appointed vice president and chief financial officer, effective today.
Mr. Nayyar comes to Power Integrations with more than 20 years of corporate financial-management and public-accounting experience. Most recently, he served as vice president of finance and a member of the senior executive team at Applied Biosystems, Inc. (ABI), a developer and manufacturer of life-sciences products with more than $2 billion in annual revenues. Prior to merging with Invitrogen to form Life Technologies Corp., ABI was publicly traded as a tracking stock of Applera Corp. Previously, Mr. Nayyar spent eleven years at Quantum Corporation, serving in a succession of financial roles including vice president of finance for the company's $3 billion disk-drive group. Mr. Nayyar also spent five years in the public-accounting field at Ernst & Young.
Commented Balu Balakrishnan, president and CEO of Power Integrations, "We are delighted that Sandeep Nayyar has joined our senior leadership team. Sandeep has an outstanding track record of financial leadership at global technology companies, including seven years in the senior-most financial role at ABI. His leadership and financial expertise will be instrumental in our efforts to continue our growth in the years ahead."
Mr. Nayyar added, "Power Integrations is without a doubt one of the most attractive stories in the technology sector today. The global energy-efficiency trend is driving unprecedented change in the power-supply and lighting markets, creating tremendous opportunities for innovators like Power Integrations. I am thrilled to join the company at this exciting time in its history."
About Power Integrations
Power Integrations is the leading supplier of high-voltage analog integrated circuits used in energy-efficient power conversion. The company's innovative technology enables compact, energy-efficient power supplies in a wide range of electronic products, in AC-DC, DC-DC and LED lighting applications. Since its introduction in 1998, Power Integrations' EcoSmart® energy-efficiency technology has saved an estimated $4.2 billion of standby energy waste and prevented millions of tons of CO2 emissions. The company's Green Room (www.powerint.com/greenroom) provides a wealth of information about "energy vampires" and the issue of standby energy waste, along with a comprehensive guide to energy-efficiency standards around the world. Reflecting the environmental benefits of EcoSmart technology, Power Integrations is included in clean-technology stock indices sponsored by the Cleantech Group (Amex:CTIUS) and Clean Edge (Nasdaq:CELS). For more information, please visit http://www.powerint.com/">www.powerint.com.