Enovix Announces Appointment of Joseph Malchow and Bernard Gutmann
to Its Board of Directors
FREMONT, Calif, June 26, 2023 Enovix Corporation (Enovix) (Nasdaq: ENVX), an advanced silicon battery company, today announced the appointment of Joseph Malchow, founding partner at HNVR Technology Investment Management and board member at Enphase Energy, Inc., and Bernard Gutmann, a 40-year semiconductor industry veteran and former CFO at On Semiconductor, to its Board of Directors (the Board). These appointments expand the Board to eight directors, six of whom are independent.
I am committed to the operational success of Enovix and the addition of Joe and Bernard enhances our Boards skillset and demonstrates our commitment to drive long-term value to our shareholders, said T.J. Rodgers, Chairman of the Board. Joes entrepreneurial and investment experience, with expertise in scaled computing infrastructure, software-driven business, energy technology, and artificial intelligence and Bernards successful 40-year track record in the semiconductor industry holding financial leadership roles, will help position Enovix for success.
We are excited to welcome Joe and Bernard to our Board, said Dr. Raj Talluri, President and CEO at Enovix. Their expertise in finance and strategy complements our Board and provides additional guidance as we experience rapid growth. Im looking forward to working with them as we execute against our goals on our journey to scale.
Since 2013, Mr. Malchow has served as the founding partner at HNVR Technology Investment Management, a venture capital firm based in Portola Valley, California. Mr. Malchow serves on the board of directors of Enphase Energy, Inc. (Nasdaq: ENPH), a global energy technology company, where he has helped to architect a transformation to software-defined distributed clean energy systems. Mr. Malchow served on the board of directors of Archaea Energy Inc. (NYSE: LFG), a renewable natural gas company, until its acquisition in December 2022; and he is a member of the board of directors of the National Civic Arts Society in Washington, D.C. From December 2020 through July 2021, he served on the board of directors of Rodgers Silicon Valley Acquisition Corp, a special purpose acquisition company which completed a business combination with Enovix. Mr. Malchow holds an A.B. from Dartmouth College and a J.D. from Stanford University.
I have been a supporter of Enovix technology for years and Im excited to play a role in helping the company bring high-speed precision manufacturing to batteries, said Malchow. I look forward to working closely with the management team as Enovix accelerates its global manufacturing buildout.
On a personal note, he added, for years I have heard software engineers describe power limitations (and their derivative: compute limitations), as the bottleneck in deploying advanced models to the phones, tablets, EVs, cameras, and edge devices of the future. But the jellyroll battery, a distant cousin of the ancient reel-to-reel audiotape, has struggled to keep pace. I am impressed by the high safety, precision machining, and thermal characteristics of the Enovix battery platform, to be sure. But I am most excited about working with management to unlock pent-up software innovation that already exists, but is currently stuck in power purgatory.
Mr. Gutmann brings nearly 40 years of experience in the semiconductor space. Most recently he was the Executive Vice President and Chief Financial Officer & Treasurer of ON Semiconductor (Nasdaq: ON), a position he held from September 2012 to February 2021. Before that, he was Vice President, Corporate Analysis & Strategy of SCI LLC from April 2006 to September 2012. In these roles, his responsibilities included finance integration, financial reporting, restructuring, tax, treasury and financial planning and analysis. From November 2002 to April 2006, Mr. Gutmann served as Vice President, Financial Planning & Analysis and Treasury of SCI LLC and from September 1999 to November 2002, he held the position of Director, Financial Planning & Analysis of SCI LLC. Mr. Gutmann served in various financial positions with Motorola (NYSE: MSI) from 1984 to 1999, including controller of various divisions and an offshore wafer and backend factory, finance and accounting manager, financial planning manager and financial analyst. He holds a Bachelor of Science in Management Engineering from Worcester Polytechnic Institute in Massachusetts.
Enovix has an incredible opportunity to be an industry leader in a space that is in desperate need of innovation, said Gutmann. I look forward to working with the management team and guiding the company into an industry-leading global corporation.
Enovix is on a mission to power the technologies of the future. Everything from IoT, mobile and computing devices, to the vehicle you drive, needs a better battery. The companys disruptive architecture enables a battery with high energy density and capacity without compromising safety. Enovix is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. For more information visit www.enovix.com and follow us on LinkedIn.
Forward Looking Statements
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