Frans van Houten to resign as President and CEOEindhoven, The Netherlands, 31 December 2008
- NXP Semiconductors, the independent semiconductor company founded by Philips, today announced the appointment of Richard L. Clemmer as President and Chief Executive Officer (“CEO”). Mr. Clemmer succeeds Frans van Houten who is leaving NXP. Clemmer will assume the new role on January 1, 2009.
Sir Peter Bonfield, Chairman of the Supervisory Board of NXP, said: “I am pleased to welcome Richard Clemmer as the new CEO. Rick has extensive executive leadership experience in the high tech industry, including semiconductor, storage, e-Commerce, and software companies. He is very familiar with NXP and well suited to bring NXP to the next level.”
“I would also like to express my deep appreciation to Frans for his achievements and his leadership. He has done an outstanding job in establishing NXP as an independent company after successfully leading the spin out of Philips Semiconductor division. Under his leadership, NXP sharpened its portfolio focus, completed six M&A deals, became more cost effective, attracted new talent, and strengthened its position as a leader in its served markets,” continued Bonfield.
Richard L. Clemmer said: “After spending the last six months working closely with the team, I look forward to building on all that has been achieved at NXP. This is a company with a great history, great technology, and a great future. I am excited about the opportunity to work with the team to make NXP an even stronger leader in the semiconductor industry. We continue to focus on innovative solutions for our worldwide customers.”
Frans van Houten said: “At NXP, we have made great strides in a difficult market and business environment and I feel privileged to have led the company for the last four years and established its independence as a competitive semiconductor leader. However, after being in this job for four years, I have reflected on the future and decided it is the right time to move on.”
Mr. Clemmer, 56, currently a member of NXP's Supervisory Board, was most recently chief executive officer of Agere Systems, the former semiconductor company of Lucent and a global leader in semiconductors. At Agere he implemented a strategic and operational turnaround that ultimately resulted in an $8 billion merger of equals with LSI.
Prior to Agere, he served as chief financial officer of Quantum Corporation where he led the implementation of the first Silicon Valley tracking stock and the $2 billion merger with Maxtor Corporation. Prior to Quantum, Clemmer spent 23 years at Texas Instruments where he worked as chief financial officer of the Semiconductor Group, and in various leadership positions.
Mr. Clemmer holds a bachelor's degree in business administration from Texas Tech University and a Master's degree in business administration from Southern Methodist University. He also serves on the boards of NCR Corporation and i2 Technologies, Inc.
About NXP Semiconductors
NXP is a leading semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has about 33,500 employees working in more than 20 countries and posted sales of USD 6.3 billion (including the Mobile & Personal business) in 2007. NXP creates semiconductors, system solutions and software that deliver better sensory experiences in TVs, set-top boxes, identification applications, mobile phones, cars and a wide range of other electronic devices. News from NXP is located at www.nxp.com.