NXP Semiconductors Shareholders Elect Kurt Sievers as Chief Executive Officer

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NXP Semiconductors N.V. announced that at its Annual General Meeting of Shareholders (“AGM”), shareholders overwhelmingly approved the appointment of Kurt Sievers, 51, as an executive director and the company’s Chief Executive Officer, effective immediately.

In this capacity Mr. Sievers will also remain President of NXP, a role he has held since 2018. As previously announced, Richard “Rick” Clemmer, who previously led the company for 11 years, will remain a strategic advisor to NXP.

“On behalf of the NXP Board of Directors, we are pleased to officially welcome Kurt as our next Chief Executive Officer,” said Sir Peter Bonfield, NXP Chairman of the Board. “Kurt has proven himself exceptionally qualified to lead NXP into its next chapter, and I could not be more confident in his abilities as he leads the company through the current unpredictable and fluid environment. 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.”

“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, and continue to foster a culture of innovation and collaboration. I look forward to continuing to work alongside the very best and brightest team and I am committed to ensure the safety and well-being of each and every one of our employees as we weather the pandemic. I could not be prouder of how we have adapted and stayed focused in these times, and I am confident that we will emerge from this stronger, leading NXP into its promising future.”

Since September 2018, Sievers has been the President of NXP, with direct oversight and management of all NXP’s business lines. Sievers joined NXP (then Philips Semiconductors) in 1995, and rapidly moved through a series of Marketing & Sales, Product Definition & Development, Strategy and General Management leadership positions across a broad number of market segments. He has been a member of the executive management team since 2009, where he has been instrumental in the definition and implementation of the NXP High-Performance Mixed Signal strategy. In 2015, Sievers was influential in the merger of NXP and Freescale Semiconductors, which resulted in creating one of the leading semiconductor companies, with distinct leadership in Automotive semiconductors and Secure Edge Processing.