News

15 September 2006

 

NXP announces board

NXP Semiconductors of Eindhoven, The Netherlands (formerly Philips Semiconductors, re-named on 1 September) has announced plans to appoint four
senior executives to the board of management of its holding company NXP b.v., effective from the expected closing date of its private equity sponsored spin-out from Royal Philips Electron ICs, announced in August.

The board will interface with the supervisory board and shareholders and assure good corporate governance and legal compliance, business principles, policies and controls.

The proposed members of the board comprise of the following four executives:

• Frans van Houten, president and chief executive officer and chairman of the board of management (former Philips board member and Philips
  Semiconductors CEO from November 2004);
• Peter van Bommel, executive vice president and chief financial officer (formerly Philips Semiconductors' CFO from September 2005);
• Theo Claasen, executive vice president, business development (formerly Philips Semiconductors' executive VP and manager of strategy and business
  development);
• Hein van der Zeeuw, executive vice president and general manager for the MultiMarket business (formerly Philips Semiconductors' executive VP and
  general manager for the MultiMarket business unit).

Guido Dierick, NXP's senior VP and general counsel, will be secretary to the board.

The formation of the board of management will have no effect on the composition and continued role of NXP's wider executive management team, which continues to run the company's day-to-day affairs. The members of the
board of management are also members of the executive management team.

The supervisory board and full governance structure will be announced with the closing of the agreement.

NXP is a top 10 semiconductor company founded by Philips more than 50 years ago, and has 37,000 employees in 20 countries creating semiconductors, system solutions and software for mobile phones, personal media players,
TVs, set-top boxes, identification applications, cars and range of other electronic devices.

While traditionally focused on silicon, the company is increasing its activities in compound semiconductors, including working on silicon carbide based power semiconductors and partnering with French-German GaAs IC maker and foundry UMS and Fraunhofer-IAF (Institut Angewandte Festkörperphysik) of Freiburg, Germany on developing gallium nitride technology and products for
the cellular infrastructure market.

Visit: http://www.nxp.com