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CAMBRIDGE, England - Pragmatic Semiconductor Ltd. announced Tuesday the appointment of Peter Herweck as Chair of its Board of Directors, effective immediately. Herweck succeeds Erik Langaker, who has served as Chair since 2020.
Herweck brings over four decades of experience in technology, industrial automation and advanced manufacturing. He most recently served as Chief Executive Officer of Schneider Electric SE, where he led the company’s strategic transformation. His previous roles include CEO of AVEVA plc, a FTSE 100 industrial software company, and senior leadership positions at Siemens AG, including Chief Executive of the Process Industries and Drives Division.
Langaker, who oversaw Pragmatic’s growth during his five-year tenure, will remain a director until October 31, 2025, to support the transition. Under his leadership, the company secured a $231 million Series D funding round, which the company described as Europe’s largest venture raise for a semiconductor business.
"I am thrilled to welcome Peter as our new Chair. His extensive global leadership and experience across industrial automation, advanced technology and manufacturing make him perfectly positioned to support Pragmatic’s tremendous growth," said David Moore, CEO of Pragmatic Semiconductor, in a press release statement.
Pragmatic Semiconductor specializes in flexible integrated circuit (FlexIC) technology, which the company develops to enable item-level intelligence at scale. The company operates a FlexIC Foundry that provides manufacturing services for flexible semiconductor products. For detailed analysis of semiconductor industry leaders like Teradyne, including comprehensive financial health scores and expert insights, visit InvestingPro to access their extensive Pro Research Reports, available for over 1,400 US-listed companies.
Herweck also currently serves as a non-executive director of Teradyne Inc. (NASDAQ:TER), a provider of semiconductor test equipment and industrial automation solutions. Teradyne, with a market capitalization of $23.5 billion, has demonstrated strong momentum with a 103% price return over the past six months. According to InvestingPro analysis, the company appears overvalued at current levels, trading at a P/E ratio of 52x. InvestingPro subscribers can access 18 additional key insights about Teradyne’s valuation and performance metrics.
In other recent news, Teradyne, Inc. has announced a quarterly cash dividend of $0.12 per share, payable to shareholders on September 29, 2025. The company has been active with several product launches, including the ETS-800 D20 system for power semiconductor testing, which offers solutions for both high volume and low volume device testing. Additionally, Teradyne introduced the Titan HP test platform aimed at AI and cloud infrastructure markets, already adopted by several large customers. Another significant development is the release of the UltraPHY 224G, enhancing high-speed testing capabilities in collaboration with Multilane. In leadership changes, Teradyne has appointed Jean-Pierre "JP" Hathout as President of the Teradyne Robotics Group, where he will continue to serve as President of Universal Robots. These developments reflect Teradyne’s ongoing expansion and innovation in its testing and robotics divisions.
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