Cirrus Logic Appoints Jeff Woolard as New CFO to Drive Growth and Strategy

Cirrus Logic Strengthens Leadership with New CFO Appointment

Cirrus Logic, Inc. announces the appointment of Jeff Woolard as its new Chief Financial Officer, effective February 24, 2025. Woolard brings over 30 years of extensive experience in the technology sector, specializing in corporate finance, strategy, and mergers and acquisitions. His previous roles include CFO of Velocity Global and Solidigm, an Intel spin-off, where he demonstrated significant financial execution and strategic planning capabilities. Woolard's tenure at Intel spans 25 years, during which he played a pivotal role in over $60 billion worth of mergers and acquisitions, making him a valuable addition to Cirrus Logic's leadership team.

John Forsyth, President and CEO of Cirrus Logic, expresses confidence in Woolard's strategic vision and leadership skills, believing that his expertise will be instrumental in the company's growth and market expansion. Woolard acknowledges the opportunity to contribute to Cirrus Logic’s legacy, emphasizing his commitment to developing financial strategies that drive sustainable growth and stakeholder value. This leadership change comes at a critical time as the company continues to enhance its product offerings in the audio component market and explore new opportunities in the laptop segment.

Cirrus Logic's recent third-quarter financial results for fiscal year 2025 highlight the company's robust performance, with revenues reaching $555.7 million, significantly surpassing previous guidance. This growth is primarily driven by strong demand for smartphone audio components, including the latest generation of custom boosted amplifiers and advanced codec technology. With a gross margin of 53.6%, the company showcases its efficiency in production and profitability. The upcoming quarter projects revenues between $350 million and $410 million, reflecting Cirrus Logic's commitment to innovation and its strategic focus on high-precision mixed-signal processing solutions for mobile and consumer applications.

In addition to the leadership change, Cirrus Logic is set to host a live Q&A session to discuss its financial results and business outlook, accessible via its investor relations website. The company’s strong product roadmap and focus on execution position it well to enhance long-term shareholder value and reinforce its reputation as a leader in the audio component industry. As Cirrus Logic prepares for future growth, the combination of strategic leadership and innovative product offerings underscores its commitment to excellence in the technology sector.