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Electronics Production | May 13, 2008

NXP appoints new Chief Financial Officer

Peter van Bommel has decided to step down as CFO and to leave NXP for personal reasons, but will continue to support NXP in the successful creation of the wireless joint venture with ST.
Frans van Houten commented: “We respect Peter’s wish for a career change and thank him for his key contribution as CFO in a period of profound transformation of NXP. I appreciate his agreement to stay on board to finalise our important joint venture with ST.”

NXP further announced that Karl-Henrik Sundström has been appointed Executive Vice President and Chief Financial Officer with effect from 13 May succeeding Peter van Bommel. Sundström will join NXP’s Executive Management Team and Board of Management, reporting directly to Chief Executive Officer Frans van Houten.

In a successful career at Ericsson K.H. Sundström gained general management experience leading the company’s Global Services Operations and its Australian business before his appointment as Chief Financial Officer in 2003. He was named the best CFO in Europe for 2004, 2005, and 2006 by Institutional Investor magazine. He resigned from Ericsson late 2007. He will transfer to Eindhoven to be located at the NXPs global headquarters. “We are very pleased with Karl-Henrik joining us; he brings a wealth of experience and great expertise with him. Karl-Henrik will play a vital role in the next phase of the value creation of our company,” said Frans van Houten.

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