09:21 AM EDT, 06/07/2024 (MT Newswires) -- Semtech ( SMTC ) said Friday that Hong Hou has been named president and chief executive officer, effective June 6, succeeding Paul Pickle.

Hou is a current member of the Semtech ( SMTC ) board.

Semtech ( SMTC ) said Pickle's departure resulted from "differences between the board and Mr. Pickle on how the CEO and the board should work together in the best interests of stockholders."

Shares of the company fell more than 18% in Friday premarket activity.

Price: 31.75, Change: -6.23, Percent Change: -16.40