Magnachip Semiconductor Corporation appointed Chae Lee as its new Chief Executive Officer and a member of its Board of Directors, effective July 1, 2026. Mr. Lee succeeds Camillo Martino, who served as Interim CEO and will continue to serve as Chairman of the Board.
Key Details
- Leadership Transition: The appointment is effective July 1, 2026. Mr. Lee brings over 30 years of experience from roles at Tagore Technology, NXP Semiconductors, and Maxim Integrated.
- New CEO Compensation: Mr. Lee's compensation includes a $560,000 annual base salary, a target annual cash bonus of 100% of his salary, and an initial equity award of 875,000 shares (comprised of RSUs, PSUs, and stock options).
- Outgoing Interim CEO Terms: In connection with his departure as Interim CEO, Camillo Martino will receive a lump sum payment and the accelerated vesting of all 105,484 restricted stock units granted during his interim service.