News Article
NXP Semiconductors Announces CFO Change
NXP Semiconductors N.V. has announced that executive vice president and CFO Karl-Henrik "Kalle" Sundstroem has decided to resign as chief financial officer of NXP as per the end of July 2012 for personal family reasons and will return to Sweden.
"I would like to express my deep gratitude to Kalle for playing a key role in driving significant milestones for NXP during his 4 year tenure. Furthermore, I'd like to thank him for his focus, leadership and drive which has directly resulted in NXP realizing a substantially improved cost and capital structure," said Rick Clemmer, president and CEO of NXP Semiconductors.
Concurrently NXP has appointed Peter Kelly as successor of Karl-Henrik Sundstroem, effective end of July 2012. Peter Kelly joined NXP in March 2011 as NXP's executive vice president and co- general manager of operations. Peter Kelly will work with Karl-Henrik Sundstroem on the transition until assuming his new role end of July.
Peter Kelly has over 25 years of applicable experience in the global technology industry and has extensive financial expertise having worked in financial management positions in several other companies, including as CFO of UGI Corp. and Agere Systems Inc.
"While we are saddened by Kalle's departure, we are very pleased that Peter accepted the role of CFO at NXP. He brings significant experience, financial expertise as well as a wealth of industry knowledge and insight into NXP. Peter will be instrumental in the on-going journey of value creation at NXP," said Clemmer.
About NXP Semiconductors NXP Semiconductors N.V. NXPI -0.38% provides High Performance Mixed Signal and Standard Product solutions that leverage its leading RF, Analog, Power Management, Interface, Security and Digital Processing expertise. These innovations are used in a wide range of automotive, identification, wireless infrastructure, lighting, industrial, mobile, consumer and computing applications. A global semiconductor company with operations in more than 25 countries, NXP posted revenue of $4.2 billion in 2011.
