consecutive quarter of profitability.

In March 2021, Sanghi was replaced as CEO by Ganesh Moorthy.

2024-present

In March 2024, Microchip furloughed production staff and non-manufacturing employees were forced to take a pay-cut for two weeks. This was done again in June. In late November, Moorthy retired as CEO and Steve Sanghi was appointed interim CEO, and was subsequently announced he would continue as CEO and Chairman on a permanent basis on July 2, 2025.

In early December 2024, Sanghi announced the closure

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