Sivers Semiconductors Overhauls Leadership Duo as Glasgow Fab Buildout and $1.2 Billion Pipeline Set the Stage

Sivers Semiconductors named new wireless and photonics leaders as it expands its Glasgow fab and targets commercialization.

Sivers Semiconductors has reshuffled the top ranks of both its operating divisions, installing industry veterans in key posts while reassigning a co-founder to a broader strategic role. The Swedish chipmaker framed the moves as preparation for wider commercialization and industrial-scale production, with the changes landing just as its manufacturing expansion and project pipeline gather pace.

At the wireless unit, Marc Pegulu takes over as Managing Director on 28 September 2026. He brings more than 25 years in RF, wireless communications and mixed-signal systems, gained at companies including Semtech and Qorvo. Harish Krishnaswamy, who had led the segment and co-founded MixComm, shifts to Chief Strategy Officer, where he will focus on corporate strategy, mergers and acquisitions, and new business initiatives.

Photonics is getting a new engineering chief as well. David Clark joins on 31 October 2026 as VP of Engineering for Photonics, drawing on over 25 years in photonics, semiconductor packaging and technical management, including more than twelve years at Amkor Technology. He will eventually succeed Andrew McKee, the CST Global co-founder and current CTO of Photonics, who is retiring at the end of 2026 and will support an orderly handover through year-end.

Glasgow capacity bet underpins the reshuffle

The leadership changes tie directly into the company's industrial buildout. Roughly two weeks ago, Sivers announced a USD 30 million investment to expand its indium phosphide fab in Glasgow, Scotland. Once construction wraps up, the site is slated to offer annual capacity of more than 100 million CW-DFB lasers. Work on the expansion begins in the second half of 2026, with full operational readiness targeted for the fourth quarter of 2027.

Those ambitions sit alongside a mixed quarterly picture. Net sales in the second quarter of 2026 came in at SEK 53.8 million, down 12 percent year over year, even as product revenue alone advanced 18 percent. Earnings per share landed at -SEK 0.38, compared with -SEK 0.19 a year earlier.

The order outlook tells a different story. Sivers grew its opportunity pipeline to USD 1.2 billion by July 2026, a 268 percent jump from December 2025. Recent wins include an August cooperation with SemiNex worth USD 3.4 million for photonic light sources used in data centers, and a June production order from ALL.SPACE valued at USD 8.2 million for Ka-band beamforming ICs.

Funding in place, execution next

The balance sheet has been reinforced through a rights issue raising gross proceeds of around SEK 700 million, plus the conversion of a USD 12 million convertible loan into equity. With capital secured, attention now turns to whether the newly assembled management team can convert the swelling pipeline into booked revenue on schedule.

Trading has been volatile around the news. The stock ended Friday at EUR 2.92, off 1.0 percent on the day, yet it remains up 652 percent since the start of the year. A separate session saw the shares add 0.9 percent to EUR 2.98, putting them above their 200-day moving average of EUR 2.77.