Altera appoints Kirsten Spears and Sumit Sadana to Board of Directors

Altera Corporation has announced two new appointments to its board of directors: Sumit Sadana, who joins as an independent director, and Kirsten Spears, who had previously joined the board as an independent director and chair of its Audit Committee. Together, the two bring substantial semiconductor, technology, business, financial, and governance experience to Altera's board as the company enters its next phase of growth.

Raghib Hussain, president and CEO of Altera, said Spears and Sadana are highly respected semiconductor industry leaders who bring extensive experience and complementary perspectives to the board. He said Spears' financial and governance expertise, combined with Sadana's deep technology, business, and strategic experience, will be invaluable as Altera executes its strategy and positions itself for long-term growth.

Ken Hao, chairman of Altera's board and managing partner and co-chairman of Silver Lake, said Altera has made significant progress since separating from Intel, and that the company is strengthening its board to align with its broader ambitions. He said Spears and Sadana understand how to build lasting semiconductor companies, and that he's delighted to welcome them to the board.

Spears previously served as chief financial officer and chief accounting officer at Broadcom, holding leadership roles across finance, accounting, and corporate governance. Earlier in her career, she held positions at LSI, PricewaterhouseCoopers, Raychem, and Bank of America. As chair of Altera's Audit Committee, she'll play an important role in the board's oversight of financial reporting, compliance, risk management, and governance.

Spears said Altera is at an exciting point in its evolution, with a long history of innovation and differentiated technology well suited to today's evolving markets. She said she's looking forward to working with Hussain, Hao, Sadana, and the rest of the board as Altera continues strengthening its business and governance foundation while preparing for its future.

Sadana brings more than 35 years of experience in the technology and semiconductor industries, spanning business and P&L leadership, product development, corporate strategy, mergers and acquisitions, and operations. For more than nine years, he served as executive vice president and chief business officer at Micron Technology, where he led the company's P&L and business units and was responsible for its product roadmaps, customer partnerships, corporate strategy, corporate business development, global communications and marketing, and Micron Ventures. Before Micron, Sadana held senior leadership roles at SanDisk, Freescale Semiconductor, and IBM. He has served on the board of Silicon Labs since 2015 and as lead independent director there since 2022.

Sadana said Altera has a strong technology foundation, a broad customer base, and a significant opportunity ahead as programmable computing solutions become increasingly important to the future of computing and AI. He said he's looking forward to working with Hussain, Hao, Spears, and the rest of the board as Altera builds on more than 40 years of FPGA innovation and enters its next chapter of growth.

Altera frames these appointments as part of its continued focus on building the leadership and governance foundation needed to support its long-term strategy as an independent semiconductor company.