Power Integrations Announces CEO Transition: Balakrishnan to Retire, Lloyd Appointed Successor
SAN JOSE, CA – July 17, 2025 – Power Integrations, Inc. (NASDAQ: POWI), a leading innovator in high-performance energy conversion technologies, today announced a significant leadership transition. Effective September 1, 2025, Mr. Balu Balakrishnan will retire from his role as President and Chief Executive Officer. Succeeding him will be Mr. Doug Lloyd, who has been appointed President and Chief Executive Officer, and will also join the company’s Board of Directors.
This announcement marks the culmination of a thoughtful and well-executed succession plan, ensuring a seamless handover of leadership for the company. Mr. Balakrishnan has been instrumental in guiding Power Integrations for many years, overseeing substantial growth and innovation that have solidified the company’s position as a market leader in power management ICs. His vision and dedication have been pivotal in developing a robust product portfolio and a strong corporate culture.
“It has been an honor and a privilege to lead Power Integrations and to witness its remarkable evolution over the years,” said Mr. Balakrishnan. “I am incredibly proud of what we have accomplished together, and I am confident that Doug is the right person to lead the company into its next chapter of success. His deep understanding of the industry, strategic acumen, and commitment to innovation will undoubtedly drive Power Integrations to even greater heights.”
Mr. Lloyd brings a wealth of experience and a proven track record of leadership within the semiconductor industry. He currently serves as President and Chief Executive Officer of a prominent technology company, where he has demonstrated exceptional strategic vision and operational excellence. His extensive background in product development, market strategy, and business growth is expected to be invaluable as Power Integrations continues to navigate the dynamic landscape of the global electronics market.
“I am thrilled and deeply honored to assume the role of President and Chief Executive Officer at Power Integrations,” stated Mr. Lloyd. “Balu has built an exceptional company with a strong foundation of innovation and customer focus. I am eager to build upon this legacy, working closely with the talented team at Power Integrations to drive continued growth and deliver cutting-edge solutions that address the world’s evolving energy needs. I look forward to engaging with our employees, customers, and partners as we embark on this exciting journey together.”
The Board of Directors expressed its sincere gratitude to Mr. Balakrishnan for his dedicated service and invaluable contributions to Power Integrations. They also conveyed their enthusiasm for Mr. Lloyd’s appointment, expressing full confidence in his ability to lead the company forward.
“On behalf of the entire Board, I want to thank Balu for his outstanding leadership and unwavering commitment to Power Integrations,” said Ms. Sarah Chen, Chairperson of the Board. “His strategic guidance and operational expertise have been fundamental to our success. We are equally excited to welcome Doug to lead the company. His impressive experience and vision align perfectly with our strategic goals, and we are confident he will propel Power Integrations to new achievements.”
The leadership transition is expected to be smooth, with Mr. Balakrishnan continuing to provide counsel and support during the handover period. Power Integrations remains committed to its mission of delivering highly efficient and innovative power conversion solutions for a wide range of applications, including consumer electronics, industrial systems, and electric vehicles, among others.
Lloyd succeeds Balakrishnan as CEO of Power Integrations
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