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Odyssey Semiconductor Announces CEO Transition

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Alex Behfar resigns and Rick Brown, co-founder, CTO appointed as Interim CEO

East coast US-based Odyssey Semiconductor, a company developing high-voltage power switching components based on proprietary GaN, has announced that Rick Brown, co-founder, CTO and board member, has been appointed as interim CEO of Odyssey effective September 22, 2021, replacing Alex Behfar who resigned as CEO, chairman and board member. The company has initiated a search for a permanent CEO to succeed Behfar.

Commenting on the CEO transition, Brown stated: "Alex was instrumental in efforts to advance our proprietary technology that will allow for GaN to replace SiC as the leading high-voltage power switching semiconductor material. The premium power switching device market, which is described as applications where SiC based systems perform insufficiently, is projected to reach over $3.5 billion by 2025. While we have benefited from Alex's contributions, we remain on a very strong course and wish him well in his future endeavours."

"Odyssey is an extraordinary company and it has been an honor to serve as CEO," said Alex Behfar. "I am proud of the successes that weu have achieved together and the Company is well-positioned for long-term growth."

The board of directors also appointed John Edmunds as chairman of the board. Edmunds recently joined the Odyssey board as an independent member and brings over 40 years of financial experience including 20 years as a public company CFO with fast growing semiconductor companies.

Edmunds added, "During this transition period, it is our priority to ensure that we receive input broadly in naming the best individual to lead the Company, while maintaining a stable and effective organisation. We will continue to share updates about our leadership and technology developments and appreciate the continued support of our shareholders as we bring Odyssey closer to the commercial launch of its unique vertical GaN high-voltage power switching semiconductors."

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