– NETHERLANDS, Eindhoven – NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that its Board of Directors has unanimously nominated Kurt Sievers to be appointed as President and CEO. Mr. Sievers will succeed Rick Clemmer, who has successfully led NXP since 2009.
The Board of Directors will propose the appointment of Mr. Sievers as executive director and CEO at the 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 CEO. 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.
“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.” Sir Peter Bonfield added.
“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 CEO. “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 Kurt Sievers
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.” he added.
About NXP Semiconductors
NXP Semiconductors N.V. 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.
For more information: https://www.nxp.com
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