NXP Semiconductors Announces Executive Transition
05 Marzo 2020 - 3:01PM
NXP Semiconductors N.V. (NASDAQ: NXPI) announced today that its
Board of Directors has unanimously nominated Kurt Sievers, 50, to
be appointed as President and Chief Executive Officer. Mr. Sievers
will succeed Richard “Rick” Clemmer, who has successfully led NXP
since 2009. The Board of Directors will propose the appointment of
Mr. Sievers as executive director and Chief Executive Officer at
the company’s Annual General Meeting of Shareholders scheduled for
May 27, 2020. To ensure a smooth and seamless transition, Mr.
Clemmer will remain a strategic advisor to NXP.
“After a distinguished career establishing NXP as the world
leader in Automotive semiconductor solutions, Kurt is the ideal
candidate to become NXP’s next Chief Executive Officer. The Board
and I believe Kurt has all of the requisite skills to lead NXP, and
to drive the strategy that Rick, Kurt and the management team have
developed over the past years,” said Sir Peter Bonfield, NXP
Chairman of the Board. “Kurt is unique in his ability to translate
vision and strategy into world-class execution, bringing together
teams to drive results. He has the demonstrated ability to focus,
motivate and lead a globally diverse organization, and embodies
NXP’s ethos of a “Customer Focused Passion to Win”. As we look
forward to the next chapter in NXP’s history, it is important to
recognize Rick’s immense contribution and unwavering leadership of
NXP. The industry leading company that Kurt is about to take over
is directly a result of Rick’s years of selfless dedication,
business acumen, and thoughtful leadership. The Board and I want to
thank Rick for his many years of hard work, and his unrelenting
focus, which has resulted in NXP being an established market
leader, ideally positioned to navigate an everchanging global
semiconductor market.”
Since September 2018 Sievers has been the President of NXP, with
direct oversight and management of all NXP’s business lines.
Sievers joined NXP in 1995, and rapidly moved through a series of
Marketing & Sales, Product Definition & Development,
Strategy and General Management leadership positions across a broad
number of market segments. He has been a member of the executive
management team since 2009, where he has been instrumental in the
definition and implementation of the NXP High-Performance Mixed
Signal strategy. In 2015, Sievers was influential in the merger of
NXP and Freescale Semiconductors, which resulted in creating one of
the leading semiconductor companies, and the clear leader in
Automotive semiconductors.
“The opportunity that lies ahead for NXP is significant, and the
ability to lead the organization into its next chapter is deeply
humbling and incredibly exciting,” said Kurt Sievers, NXP
President. “Over the past decade, I have had the great pleasure and
honor to work alongside Rick. He has been both an inspiring leader
and a mentor in my career evolution. At the beginning of NXP as an
independent company, Rick and the Management Team set in motion
NXP’s strategy to develop and profitably grow market leading and
highly differentiated businesses. Since the merger with Freescale
we’ve been able to expand our footprint towards truly innovative
solutions in The Internet of Things and Automotive. We leverage our
focus on safe and secure edge computing along with connectivity and
efficient power management. We have made great strides in our
execution and I will stay true to this successful and winning
strategy. As an organization, we will continue to passionately
focus on our customers' success based on trusted partnerships. We
will foster a culture of innovation, collaboration and personal
accountability that will result in highly engaged teams delivering
profitable growth.”
“I have had the opportunity to work with and support Kurt’s
growth and evolution at NXP over the last 11 years and am convinced
he is the best leader to continue to take NXP into the next chapter
of success focused on Customer Focused Passion to Win,” said Rick
Clemmer, NXP Chief Executive Officer. “Kurt has been a key member
of our management team that has created our culture and framework
for NXP’s continued value creation focused on true product
leadership. He has also successfully executed our vision to
build the true market leader in Automotive semiconductors. He has
demonstrated a deeply committed capability enabling him to
successfully work with customers, partners and employees to win in
our journey to develop market and thought leadership in critical
areas like ADAS, next generation electric vehicles and secure
connectivity across the IoT, Mobile and Auto ecosystems. I am
extremely proud of what we have been able to accomplish at NXP over
the past 11 years while I had the privilege of leading this great
company and look forward to continuing to serve as a strategic
advisor.”
About NXP SemiconductorsNXP Semiconductors N.V.
(NASDAQ: NXPI) enables secure connections for a smarter world,
advancing solutions that make lives easier, better, and safer. As
the world leader in secure connectivity solutions for embedded
applications, NXP is driving innovation in the automotive,
industrial & IoT, mobile, and communication infrastructure
markets. Built on more than 60 years of combined experience and
expertise, the company has approximately 30,000 employees in more
than 30 countries and posted revenue of $8.88 billion in 2019. Find
out more at www.nxp.com.
Forward-looking Statements This document
includes forward-looking statements which include statements
regarding NXP’s business strategy, financial condition, results of
operations, and market data, as well as any other statements which
are not historical facts. By their nature, forward-looking
statements are subject to numerous factors, risks and uncertainties
that could cause actual outcomes and results to be materially
different from those projected. These factors, risks and
uncertainties include the following: market demand and
semiconductor industry conditions; the ability to successfully
introduce new technologies and products; the end-market demand for
the goods into which NXP’s products are incorporated; the ability
to generate sufficient cash, raise sufficient capital or refinance
corporate debt at or before maturity; the ability to meet the
combination of corporate debt service, research and development and
capital investment requirements; the ability to accurately estimate
demand and match manufacturing production capacity accordingly or
obtain supplies from third-party producers; the access to
production capacity from third-party outsourcing partners; any
events that might affect third-party business partners or NXP’s
relationship with them; the ability to secure adequate and
timely supply of equipment and materials from suppliers; the
ability to avoid operational problems and product defects and, if
such issues were to arise, to correct them quickly; the ability to
form strategic partnerships and joint ventures and to successfully
cooperate with alliance partners; the ability to win competitive
bid selection processes to develop products for use in customers’
equipment and products; the ability to achieve targeted
efficiencies and cost savings; the ability to successfully
hire and retain key management and senior product architects; and,
the ability to maintain good relationships with our
suppliers. In addition, this document contains information
concerning the semiconductor industry and NXP’s business generally,
which is forward-looking in nature and is based on a variety of
assumptions regarding the ways in which the semiconductor industry,
NXP’s markets and product areas may develop. NXP has based
these assumptions on information currently available, if any one or
more of these assumptions turn out to be incorrect, actual results
may differ from those predicted. While NXP does not know what
impact any such differences may have on its business, if there are
such differences, its future results of operations and its
financial condition could be materially adversely affected.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak to results only as of the
date the statements were made. Except for any ongoing
obligation to disclose material information as required by the
United States federal securities laws, NXP does not have any
intention or obligation to publicly update or revise any
forward-looking statements after we distribute this document,
whether to reflect any future events or circumstances or
otherwise. For a discussion of potential risks and
uncertainties, please refer to the risk factors listed in our SEC
filings. Copies of our SEC filings are available on our Investor
Relations website, www.nxp.com/investor or from the SEC website,
www.sec.gov.
For further information, please contact:
Investors:
Media:Jeff
Palmer
Joon Knapen jeff.palmer@nxp.com
joon.knapen@nxp.com +1 408 518
5411
+49 151 258 43 299
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