Indian American Ajay Shah named President and CEO of SMART Global Holdings

He has been serving as the company’s Executive Chairman since August 2011.

SMART Global Holdings, Inc., a specialty memory chip and storage provider, has named Ajay Shah as it next President and CEO. The Indian American technology executive and investor, who has been serving as its Executive Chairman since August 2011, will continue to in that position.

“I am honored and excited about the opportunity to lead this exceptional organization,” Shah said in a press release issued by the company. “SMART is well positioned to continue the great progress achieved over the years under Iain’s leadership and I look forward to working closely with the board and the entire SMART team. This is a terrific opportunity to build further on the tremendous company that Iain and the team have developed.”

Jason White chair of the nominating and corporate governance committee, said the board is pleased that Shah will assume leadership of the firm. “Ajay’s deep industry knowledge and institutional tenure with SMART and its customers, suppliers, and global operations make him uniquely qualified to lead the company into the future,” he said. “Ajay’s investing and M&A experience also fits well with the company’s strategic plans for diversification and expansion.”

Shah and his wife, Lata Krishnan, co-founded SMART Modular Technologies in 1988.

In 2000, it was acquired by Solectron Corporation. Four years later it was spun off from Solectron.

The company said the current CEO Iain MacKenzie will remain will continue as Co-CEO “until the transition to” Shah is complete.

MacKenzie, a 20-year SMART veteran, who has served as the company’s CEO for 13 years, said he is “excited to assist in this transition and to continue to be engaged as a director and a resource for the company in the years to come.”

He add that Shah’s “strong technology background and long-standing involvement with SMART will be of great value to our shareholders, our employees and to our business partners.”

Shah is also the managing partner of the private equity firm Shah Capital Partner, which he cofounded in 2004.

Shah, who grew up in Africa, holds a bachelor’s in engineering from University of Baroda in Gujarat, India, and a master’s in engineering management from Stanford University.