Adeia

Execution has been solid across renewals and new logos, but leadership transition introduces uncertainty. CEO Paul Davis plans to step down by Q4 2026 with a board‑led search underway. The broader team includes a dedicated Chief Semiconductor Officer, Chief Revenue Officer and CTO focused on portfolio monetization and roadmap execution.

Governance uses regular guidance and disciplined leverage reduction. We view succession planning and continuity as the key near‑term management variable.