Freescale in search for new CEO

Mr Beyer - who joined Freescale in March 2008 - will continue in his role as chairman and CEO until a successor is named and seated. "Under Rich's leadership, the company has strengthened its strategic focus, developed a strong leadership team, improved its market leadership positions and returned to market share growth," said Claudius 'Bud' Watts, the company's lead director. "We are pleased with the remarkable progress Rich and the Freescale team have made during the past four years." "I am enormously proud of the accomplishments that the Freescale management and employees have achieved in revitalizing the company," said Beyer. "Freescale has emerged as a strong, vibrant, competitive and successful company, and I am confident it will continue on a successful path in the future." "We respect Rich's desire to retire and appreciate his commitment to an orderly transition of the CEO role," said Watts. "We will work closely with Rich as we conduct the search and execute the transition, and we are confident that Rich and the leadership team will remain focused on Freescale's success throughout this process."