Enovix CEO Raj Talluri Resigns; CFO Ryan Benton Named Interim CEO

(RTTNews) - Enovix Corp. (ENVX), a developer and manufacturer of advanced lithium-ion batteries, on Monday announced that Raj Talluri resigned as CEO and director, effective August 13, to pursue another opportunity. The Board also appointed CFO Ryan Benton as interim CEO while it conducts a search for a permanent CEO, considering both internal and external candidates. The company's Board of Directors appointed Chairman and largest shareholder T.J. Rodgers as executive chairman, effective immediately. The company reaffirmed its third quarter 2026 financial guidance and said customer programs and execution teams remain unchanged. The company said its smartphone programs are progressing toward final qualification, while AI-1 smart eyewear battery production is scaling and the MX-1 platform is being developed for growing defense and drone demand. The company said defense and drone revenue accounted for 65% of the company's second quarter 2026 revenue. The company also highlighted its recent technical progress, including the demonstration of 1,000-cycle life for its AI-class smartphone batteries. In the pre-market trading, Enovix is 7.06% lesser at $4.0801 on the Nasdaq.

(RTTNews) - Enovix Corp. (ENVX), a developer and manufacturer of advanced lithium-ion batteries, on Monday announced that Raj Talluri resigned as CEO and director, effective August 13, to pursue another opportunity.

The Board also appointed CFO Ryan Benton as interim CEO while it conducts a search for a permanent CEO, considering both internal and external candidates.

The company's Board of Directors appointed Chairman and largest shareholder T.J. Rodgers as executive chairman, effective immediately.

The company reaffirmed its third quarter 2026 financial guidance and said customer programs and execution teams remain unchanged.

The company said its smartphone programs are progressing toward final qualification, while AI-1 smart eyewear battery production is scaling and the MX-1 platform is being developed for growing defense and drone demand.

The company said defense and drone revenue accounted for 65% of the company's second quarter 2026 revenue.

The company also highlighted its recent technical progress, including the demonstration of 1,000-cycle life for its AI-class smartphone batteries.