NASDAQ — Technology: Manufacturing, Semiconductors: Semiconductors & Related Devices
www.nxp.comKurt Sievers, the CEO and executive director of NXP Semiconductors N.V., will retire on October 28, 2025. The company has appointed Rafael Sotomayor as his successor, effective the same date. Sotomayor has been with NXP's executive management team since 2020 and currently serves as the executive vice president and general manager of Secure Connected Edge. Sievers' departure is voluntary and not linked to any concerns regarding the company’s strategic or financial performance. He will remain as a strategic advisor until December 31, 2025, during the leadership transition. The transition is part of a broader succession planning effort by NXP's Board of Directors.
Operational AnnouncementKurt Sievers will transition from the role of CEO and executive director of NXP Semiconductors N.V. to serve as a strategic advisor until December 31, 2025. His resignation is not related to any performance issues and follows the Board's decision to appoint Rafael Sotomayor as the new CEO effective October 28, 2025. Sievers' current salary and benefits will continue during his advisory role, and he remains eligible for the 2025 annual incentive program bonus, contingent on performance metrics. This leadership transition coincides with NXP's ongoing strategic planning efforts to ensure stability during this period.
Operational Announcement