Van Houten leaves NXP as former TI, Agere exec takes over -

Van Houten leaves NXP as former TI, Agere exec takes over

LONDON — Former Agere CEO, Richard L. Clemmer is taking over as president and chief executive officer of NXP Semiconductors (Eindhoven, The Netherlands) on January 1, 2009 replacing Frans van Houten who is leaving the company.

Clemmer is currently a member of NXP’s supervisory board, and was most recently chief executive officer of Agere Systems, the former semiconductor company of Lucent. At Agere he is credited with implementing a strategic and operational turnaround that ultimately resulted in an $8 billion merger of equals with LSI.

He is also a senior advisor at Kohlberg Kravis Roberts &Co. (KKR), part of the private equity consortium that bought, in September 2006 , for $8.3 billion , an 80 percent stake in what was Philips's semiconductors operation.

Prior to Agere, he was as chief financial officer of Quantum Corp. where he led the $2 billion merger with Maxtor Corp. Prior to Quantum, Clemmer spent 23 years at Texas Instruments where he worked as chief financial officer of the semiconductor group, and in various management roles.

Frans van Houten said, “At NXP, we have made great strides in a difficult market and business environment and I feel privileged to have led the company for the last four years and established its independence as a competitive semiconductor leader. However, after being in this job for four years, I have reflected on the future and decided it is the right time to move on.”

Sir Peter Bonfield, chairman of the supervisory board of NXP, added, “I would also like to express my deep appreciation to Frans for his achievements and his leadership. He has done an outstanding job in establishing NXP as an independent company after successfully leading the spin out of Philips Semiconductor division. Under his leadership, NXP sharpened its portfolio focus, completed six M&A deals, became more cost effective, attracted new talent, and strengthened its position as a leader in its served markets.”

“Rick has extensive executive leadership experience in the high tech industry, including semiconductor, storage, e-commerce, and software companies. He is very familiar with NXP and well suited to bring NXP to the next level,” said Bonfield.

Clemmer said, “After spending the last six months working closely with the team, I look forward to building on all that has been achieved at NXP. This is a company with a great history, great technology, and a great future. I am excited about the opportunity to work with the team to make NXP an even stronger leader in the semiconductor industry. We continue to focus on innovative solutions for our worldwide customers.” Clemmer also serves on the boards of NCR Corp. and i2 Technologies Inc.

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