05:12 PM EST, 02/06/2025 (MT Newswires) -- Power Integrations ( POWI ) said Thursday that Chief Executive Balu Balakrishnan will retire after a successor is found.

The board hired an executive search firm to assist in picking the next CEO, according to the company.

Balakrishnan plans to transition to the executive chairman role to ensure a smooth transition, Power Integrations ( POWI ) added.