Enovix Announces CEO Transition and Search

FREMONT, Calif., Aug. 17, 2026 (GLOBE NEWSWIRE) -- Enovix Corporation ("Enovix" or the "Company," Nasdaq: ENVX), a developer and manufacturer of advanced lithium-ion batteries, today announced that Raj Talluri has resigned his position as CEO and director of the Company, effective August 13, 2026, to pursue another opportunity. The Company’s Board of Directors (the "Board") accepted his resignation the next day and appointed its chairman and largest shareholder, T.J. Rodgers, to the role of executive chairman, effective immediately. The Board has also appointed Ryan Benton, the Company’s CFO, to serve as interim CEO, while it conducts a thorough CEO search to evaluate both external and internal candidates.

Executive Chairman T.J. Rodgers said, “This is a CEO transition, not a strategy transition. Our customer programs and the teams responsible for their execution remain unchanged. The Company also reaffirms its Q3’26 financial guidance and reiterates the news of the breakthrough technical progress on cycle life reported in our August 12 Q2’26 investor call.”