Product category:
Microprocessors, Microcontrollers and DSPs
News Release from: NXP Semiconductors
Edited by the Electronicstalk Editorial
Team on 15 September 2006
Semiconductor spinoff firms management
structure
NXP Semiconductors has announced its plans to appoint four senior executives to the Board of Management of its holding company NXP.
NXP Semiconductors has announced its plans to appoint four senior executives to the Board of Management of its holding company NXP, effective with the expected closing date of the private equity sponsored spinout from Royal Philips Formed under Dutch corporation law, NXP will be managed by the Board of Management, which has overall responsibility for the management of NXP, the deployment of strategy and policies, and the achievement of objectives and results
This article was originally published on Electronicstalk on 23 Oct 2001 at 8.00am (UK)
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The Board interfaces with the Supervisory Board and shareholders and assures good corporate governance and legal compliance, business principles, policies and controls.
The proposed members of the board bring a wealth of management experience and expertise to the table; they comprise the following four executives: Frans van Houten, President and Chief Executive Officer and Chairman of the Board of Management; Peter van Bommel, Executive Vice President and Chief Financial Officer; Theo Claasen, Executive Vice President; and Hein van der Zeeuw, Executive Vice President.
Guido Dierick, NXP legal counsel, will serve as Secretary to the Board of Management.
"I'm very pleased with the proposed Board of Management".
"These colleagues play a critical role in the transformation and future performance of the corporation, and I have great confidence in our ability to manage NXP going forward", stated Frans van Houten.
"We look forward to working together as a team to meet the long-term strategic growth and profitability goals we've set for the company".
The formation of the Board of Management will have no effect on the composition and continued role of the wider executive management team of NXP Semiconductors, which continues to run the day-to-day affairs of the company.
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.
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