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NXP appoints new president and CEO

Posted on: Wed, 31 Dec 2008 09:45:00 EST

Symbols: AGR

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Dec 31, 2008 (Datamonitor via COMTEX) --
AGR | Quote | Chart | News | PowerRating -- NXP Semiconductors has appointed Richard Clemmer as its new president and CEO. Mr Clemmer succeeds Frans Houten who is leaving the company.

Mr Clemmer is currently a member of NXP's supervisory board, and was most recently CEO of Agere Systems, the former semiconductor company of Lucent.

Prior to Agere, he served as CFO of Quantum Corporation. Prior to Quantum, Mr Clemmer spent 23 years at Texas Instruments where he worked as CFO of the Semiconductor Group, and in various leadership positions. He also serves on the boards of NCR Corporation and i2 Technologies.

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."

Mr 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."

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