July 02, 2019 -- Weebit Nano (ASX: WBT), the Israel-based semiconductor company seeking to develop and commercialise the next generation of memory technology, today announced the appointment of Mr Atiq Raza to its Board as a Non-executive Director.

Mr Raza joins Weebit Nano with a vast amount of experience in the semiconductor industry that spans over 40 years, including many high-profile positions.

Most notably he was Chairman and CEO of NexGen Inc., which revolutionised the design of x86 processors, and was acquired by Advanced Micro Devices (AMD) in 1996. Mr Raza then became President and COO of AMD and led its transition from running behind Intel® processors to a direct competitor gaining significant market share in PCs and the Cloud.

Since then Mr Raza has held multiple roles as investor, Chairman and CEO of semiconductor companies including RMI, Calient Technologies, and served on the boards of Mellanox, Magma Design Automation, Matrix and Solantro Semiconductor Corporation, continuing his rich career as a technologist, entrepreneur and business leader.

“I am delighted to join the Weebit Nano Board of Directors”, said Atiq Raza, “Weebit’s advanced technology addresses a major need in the industry, and it has an exceptional board and management team in place to bring this to market. I have known Dadi for many years, and I am glad this opportunity has arisen to finally work with him.”

Dadi Perlmutter, Chairman of Weebit Nano, said: “I know Atiq from the days he made NexGen, and then AMD, a true and fierce competitor to Intel on its leading-edge processors. Atiq was a well-respected competitor combining very deep technical understanding with an exceptional talent for defining strategy and running businesses. It is a pleasure to have Atiq contribute his broad knowledge to Weebit at this exciting point in time as we move closer to commercialisation. Atiq has the knowledge and experience to help us make Weebit a significant player and fulfil its potential.”

Coby Hanoch, CEO of Weebit Nano, said: “It is an honour to have an industry veteran like Atiq join our Board of Directors, and is another great vote of confidence for our company. Atiq’s technical and industry experience, as well as his vast contacts with industry leaders and investors, are invaluable to Weebit. We are certain he will add substantial insights and value to the company as we continue our progress forward.”

Mr Raza holds a Bachelor of Science (BS) degree in Physics from Punjab University, a BS with Honors degree in Electrical Engineering from the University of London, and a Master of Science degree in Materials Science & Engineering from Stanford University.

Independently Mr Yossi Keret will retire from the Board at the next Annual General Meeting, having been a director since 2015 to pursue other opportunities. Mr Keret played a significant role as the previous CEO of Weebit Nano, including the listing of Weebit Nano on the ASX, signing the co-operation agreement with Leti, and the appointment of Dadi Perlmutter as Chairman.  

Commenting on Mr Keret’s contribution, Mr Perlmutter, said, “On behalf of the Board we would like to thank Yossi for his significant contribution to Weebit Nano. Yossi transformed Weebit, first as a CEO, and later as a director, from a small private company with a university-level technology into a public company with a strong technical partner driving technology development at a record pace. For that we are most grateful. We wish him all the best for his future endeavours and thank him for his great support.”