Enovix appoints interim CEO following Raj Talluri's resignation

Enovix has announced a leadership transition following the resignation of President and CEO Dr. Raj Talluri, effective August 13. The company has appointed CFO Ryan Benton as interim CEO while conducting a search for a permanent successor. T. J. Rodgers, the company's chairman and largest shareholder, has assumed the role of Executive Chairman.

Despite the leadership change, Enovix stated that its business strategy, product roadmap, and Q3 2026 guidance remain unchanged. The company reiterated revenue guidance of $9.0 million to $10.0 million for the upcoming quarter.

On the operational front, Enovix reported that its smartphone battery technology has reached a milestone of over 1,000 charging cycles, as confirmed by a lead customer. The company also noted a $183 million pipeline in drones and defense, representing a 41% increase in Q2 2026, and a 50,000-unit order for smart eyewear.