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Electronics Production | February 11, 2008

Freescale CEO steps down

Freescale Semiconductor announced that Michel Mayer, chairman and CEO, has decided to step down.
The company and its board of directors have initiated a search for a new CEO. Mayer will continue in his current role until a successor has been identified and will remain chairman of the board until the transition is effective.

Mayer joined Freescale in May, 2004 and led the company through its transition from a semiconductor division of Motorola to a successful public company following an initial public offering in July 2004. In December 2006, Freescale became the largest leveraged buy-out (LBO) in the history of the technology industry.

“The Freescale team executed well over the last four years. Following a successful IPO, we dramatically improved the operating profitability of the company and strengthened the leadership team,” said Mayer. “One year into a successful LBO, the time is right for me and my family to take some time off before exploring new challenges. The company is well positioned to continue its transformation.”

“On behalf of the Board of Directors, I thank Michel for his leadership, contributions and stewardship of the company,” said Daniel F. Akerson, director of Freescale Semiconductor and managing director of The Carlyle Group. “With Michel at the helm and in conjunction with the senior leadership team, Freescale was able to successfully transition from a public to private company at a challenging time in the industry. Freescale is in a strong position today and we are confident it will continue to strengthen going forward. We will work closely with Michel and the senior management team to ensure a smooth transition.”
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January 11 2019 8:28 pm V11.10.27-2