Electronics Production | December 07, 2004

Freescale completes spin-off from Motorola

Freescale Semiconductor, Inc. began its new era as a fully independent company following Motorola, Inc.'s distribution of its remaining equity interest in Freescale.
"I want to welcome the new shareholders to Freescale who are joining us as a result of the spin-off," said Michel Mayer, Freescale's chairman and chief executive officer. "Freescale is combining the best aspects of our Motorola heritage with the competitive spirit and fresh vision of a new enterprise. We are excited to have these new investors with us as we move forward."

David W. Devonshire and Leif G. Soderberg have resigned as members of Freescale's Board of Directors effective today. Mr. Devonshire is executive vice president and chief financial officer of Motorola. Mr. Soderberg is a senior vice president of Motorola. Both directors have resigned as a result of the distribution by Motorola of its remaining equity interest in Freescale.


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