Allegro changes CEO as it rejects onsemi takeover bid

Mike Doogue (pictured) steps up from his Chief Technology Officer role to become CEO.

Doogue succeeds Vineet Nargolwala, who is stepping down as President and Chief Executive Officer and as a member of the Board.

Rick Madormo has joined Allegro as the new Senior Vice President of Worldwide Sales, effective March 24, 2025. He succeeds Max Glover, who is set to transition to an advisory role before his departure on May 16, 2025.

Doogue has spent 27 years rising through the leadership ranks at Allegro, during which time he enabled many of Allegro’s disruptive technologies, originally as an engineer and later as a business leader. He also previously served as the Company’s Senior Vice President of Technology and Products, which included direct oversight of each of the Company’s business units. An engineer and technology innovator, Doogue personally holds 75 semiconductor-related U.S. patents.

“Mike has been instrumental in shaping our strategy, developing our technology roadmap and creating new, innovative products that drive customer value, and we are confident that he is the right person to drive Allegro to the next level,” said Joseph Martin, Lead Independent Director of the Board of Directors. “The leadership transition we are announcing today represents the culmination of a long-term and thoughtful succession planning process led by our Board. Allegro is extending its technology leadership position and is poised to capitalize on the catalysts for growth across the auto and industrial markets. Mike’s deep knowledge of our business, leadership experience, and vision for the future will help drive Allegro’s success.”

Doogue commented, “I am grateful for the opportunity to lead this incredible Company. Throughout my 27 years at Allegro, I have gained a deep appreciation of the quality of talent across the organization and the Company’s unwavering commitment to “innovation with purpose. I’d like to personally thank Vineet as a colleague and for his accomplishments during his tenure with the Company.”

Rick Madormo brings over 25 years of experience in the semiconductor industry to his new role at Allegro. His previous position was as Senior Vice President of Global Sales and Marketing at Wolfspeed, where he led a team to achieve record sales and played a key role in the company’s pivot from LED lighting to a Silicon Carbide leader.

Madormo’s career also includes a stint as Vice President of Americas Sales at Intel and various leadership roles at Altera.

onsemi says it has made numerous attempts over the past six months to enter into constructive discussions regarding a potential transaction before launching its hostile bid.

On March 6, Allegro announced that it had received an unsolicited acquisition proposal from onsemi. It rejected the proposal as “inadequate.”