Navitas Semiconductor (NVTS) said Friday it appointed Richard Hendrix as its new chair, replacing Gene Sheridan, who will remain on the board as a director and continue as chief executive officer.

The company said Hendrix has served on the board since 2021 and was chair of the audit committee.

Navitas Semiconductor said Co-Founder Daniel Kinzer, the company's chief technology officer and chief operating officer, has resigned from his executive roles and from being a member of the board.

Kinzer will remain as an advisor focused on supporting GaN technology.

The company said the board plans to nominate a new independent director to fill Kinzer's seat at the 2025 shareholder meeting.