Light engine technology company, Lumileds, based in San Jose, Calif., has announced the appointment of Mark Adams as Chief Executive Officer. Prior to joining the company, Adams was with Micron Technology where he served as President (2012-2016) and as Vice President, Worldwide Sales (2008-2012). He received his Bachelor of Arts degree in Economics in 1987 from Boston College and his MBA in 1995 from Harvard University. “I am very excited to join the team at Lumileds and have the support of Philips and Apollo to execute the company’s vision,” Adams said in a press statement. “We will build upon Lumileds’ robust innovation pipeline, technology leadership and strong customer base to drive Lumileds’ future growth.”
According to the press release, “Lumileds is a wholly-owned subsidiary of Royal Philips (NYSE:PHG, AEX: PHIA). Philips announced on December 12, 2016, that it signed an agreement to sell a majority interest in Lumileds to certain funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO). The transaction is expected to be completed in the first half of 2017, subject to customary closing conditions. As required under the signed agreement, Apollo has been appropriately briefed on the appointment of Mark Adams as CEO.”
