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Electronics Production | January 07, 2009

NXP - sale might be up on the cards

The sudden departure of NXP's CEO could mean that the sale of the company is being considered.
As reported earlier, Mr. Clemmer is succeeding Frans van Houten as CEO of NXP, who left the company on January 1, 2009. Malcolm Penn, CEO of Future Horizons, was cited in Electronics Weekly in saying, "Richard Clemmer is an accountant. He was a CFO."

He believes that a selling or breaking up of the company is on the cards. But the current owners of the company, private equity people, have a totally different approach to business than semiconductor people have, the report continues.

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