NXP Semiconductors Announces CFO ChangeElectronic Components, Picture Gallery Monday, 19. March 2012
EINDHOVEN, THE NETHERLANDS — (Marketwire) — 03/19/12 — NXP Semiconductors N.V. (NASDAQ: NXPI) announced today that executive vice president and CFO Karl-Henrik “Kalle” Sundström 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 Sundström, 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 Sundström 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.
NXP Semiconductors N.V. (NASDAQ: NXPI) 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. Additional information can be found by visiting .
This document includes forward-looking statements which include statements regarding NXP-s business strategy, financial condition, results of operations, and market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; the ability to successfully introduce new technologies and products; the end-market demand for the goods into which NXP-s products are incorporated; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity; the ability to meet the combination of corporate debt service, research and development and capital investment requirements; the ability to accurately estimate demand and match manufacturing production capacity accordingly or obtain supplies from third-party producers; the access to production capacity from third-party outsourcing partners; any events that might affect third-party business partners or NXP-s relationship with them; the ability to secure adequate and timely supply of equipment and materials from suppliers; the ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; the ability to form strategic partnerships and joint ventures and to successfully cooperate with alliance partners; the ability to win competitive bid selection processes to develop products for use in customers- equipment and products; the ability to successfully establish a brand identity; the ability to successfully hire and retain key management and senior product architects; and, the ability to maintain good relationships with our suppliers. In addition, this document contains information concerning the semiconductor industry and NXP-s business segments generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, NXP-s market segments and product areas may develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual market results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available from on our Investor Relations website, or from the SEC website, .