BLOOMINGTON, Minn.--(BUSINESS WIRE)--SkyWater Technology, the innovator’s trusted foundry partner, today announced that Steve Manko has joined SkyWater as its new Chief Financial Officer (CFO) and Steve Wold, former CFO has been appointed as the company’s first Chief Administrative Officer (CAO). Mr. Manko has an extensive finance background through his work as a consultant with both private and public companies, in various industries and stages of the business lifecycle. He has been consulting with SkyWater since early 2019 working with the company’s finance and accounting team on a number of initiatives and projects. Mr. Wold will move into the CAO role and will oversee several organizations within SkyWater including: Quality/Operational Excellence, Human Resource Management, Information Technology and Supply Chain Management.
“As we continue to grow and scale SkyWater as the only U.S. owned and operated semiconductor foundry, it is critical that we streamline our business processes and drive efficiencies across all aspects of our company. In order to accelerate this focus, we are creating a new leadership role to be held by Steve Wold as CAO. Steve has done an outstanding job standing up our CFO function, positioning him as the ideal fit,” said Thomas Sonderman, SkyWater President.
According to Wold, “We are entering a new stage of growth and preparing to capitalize on favorable market conditions to scale and meet the growing demand we anticipate. I’m looking forward to bringing increased emphasis on the critical business operating functions needed to support our growth plan.”
Mr. Manko joins SkyWater as CFO from Riveron Consulting, where he was a Managing Director and led the Financial Advisory Services practice in Minneapolis. He and his team assisted companies through various change events such as acquisitions and internal process changes and optimizations. Prior to Riveron Consulting, Mr. Manko was at Ernst & Young and specialized in the Banking & Capital Markets industries. He spent time in the Cleveland, Ohio and Honolulu, Hawaii offices, before moving with his family to the Twin Cities in 2015.
Mr. Manko holds a Master of Business Administration from The University of Akron and a Bachelor of Arts in Accounting and Business Administration from Malone University. He is also a member of various accounting and finance committees and organizations.
Sonderman continued, “Steve Manko has been working closely with our finance department for more than a year now, and along with his extensive and proven experience in elevating companies’ profiles and enhancing business operations, he will smoothly transition into the CFO role.”
“I have been impressed with SkyWater’s business model and growth drivers. I’m excited about the company’s market potential at a time when the tech sector is poised for significant growth and there is increasing demand for reshoring of the semiconductor industry’s supply chain,” said Manko. “This is a pivotal time in the company’s evolution and I’m looking forward to being an integral part of its continued growth.”
About SkyWater Technology
SkyWater is the only U.S.-owned and U.S.-based pure play semiconductor foundry and is a DoD-accredited Trusted supplier, specializing in custom design and development services, design IP, and volume manufacturing for integrated circuits and micro devices. Through its Technology Foundry model, SkyWater’s world-class operations and unique processing capabilities enable mixed-signal CMOS, power, rad-hard and ROIC solutions. SkyWater’s Innovation Engineering Services empower development of superconducting and 3D ICs, along with carbon nanotube, photonic and MEMS devices. The company serves customers in growing markets such as aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial, and IoT. For more information, please visit: www.skywatertechnology.com/.