NXP Semiconductors names new CEO

NXP Semiconductors has named Kurt Sievers at its new CEO Wednesday, effective immediately.

He replaces Richard Clemmer who will remain as a strategic adviser.

“His expertise across business segments, passion for innovation and connections with NXP investors, customers, and employees around the world make Kurt the right leader to continue and build on the company’s successful strategy for years to come,” Peter Bonfield, chairman of NXP’s board, said in a statement.

“I am truly humbled and honored to have been granted the opportunity to lead this fine company – a company that I am proud to have been with since our founding in 2006,” said Kurt Sievers. “While we face unprecedented times, I remain confident in our winning strategy to develop and profitably grow market leading and highly differentiated businesses.”

Sievers joined NXP in 1995, then called Philips Semiconductors, and joined the executive management team in 2009. In 2015, Sievers was influential in the merger of NXP and Freescale Semiconductors, allowing the company to have leadership in automotive semiconductors and secure edge processing.

He has been president since September 2018, with direct oversight and management of all the company’s business lines.