Allegro MicroSystems Appoints Mike Doogue as New CEO

Allegro MicroSystems, Inc. announced on February 23, 2025, that its Board of Directors has named Michael C. Doogue as the company’s new President and Chief Executive Officer, effective immediately. Mr. Doogue has also been elected to the Board, succeeding Vineet Nargolwala, who is stepping down from both roles.

Mr. Doogue, age 49, has been with Allegro for 27 years and previously served as the firm’s Executive Vice President and first Chief Technology Officer. In his role as CTO, he led the company’s technology development and worldwide operations, including manufacturing, procurement, and quality functions. Prior to that, he was the Senior Vice President of Technology and Products, overseeing various business units. His extensive background in semiconductor technology is underscored by his possession of 75 U.S. patents.

In connection with his appointment, Mr. Doogue entered into an employment agreement with Allegro effective February 23, 2025. Under the terms of the agreement, he will receive an annual base salary of $700,000, along with a target annual bonus of 125% of his base salary. In addition, he is slated to be considered for an equity award at the next annual grant cycle, with a target grant date fair value of approximately $6,000,000. The agreement also outlines severance benefits in the event of termination without cause or resignation for good reason, including severance payments, a pro-rated bonus, healthcare coverage, and provisions for partial acceleration of equity awards. Enhanced benefits are provided should such a termination or resignation occur within 24 months following a change in control.

The leadership transition is the result of a long-term succession plan overseen by the Board. Lead Independent Director Joseph Martin commented on Mr. Doogue’s appointment, noting that his deep knowledge of the business, significant leadership experience, and technological vision make him well-suited to drive the company forward. Mr. Doogue, speaking on his new role, expressed gratitude for the opportunity to lead the organization and highlighted his commitment to advancing the company’s innovation efforts and strengthening its position in key markets, including the auto and industrial sectors.

Vineet Nargolwala, in his remarks, acknowledged his tenure as CEO and his collaborative work with Mr. Doogue, while expressing confidence in the new leadership to continue the company’s momentum.

This executive transition and accompanying employment and separation agreements were detailed in the Company’s recent Form 8-K filing with the Securities and Exchange Commission, along with the related press release and supporting exhibits.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Allegro MicroSystems’s 8K filing here.

About Allegro MicroSystems

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.