Freescale CEO Beyer to retire

Freescale CEO Beyer to retire

SAN FRANCISCO— Freescale Semiconductor Inc. Chairman and CEO Rich Beyer plans to step down after the conclusion of a search for a new CEO, Freescale said Thursday (April 19).

Freescale said Beyer informed the company's board of directors that he planned to retire after a successor is identified by the board. Beyer will remain in his current role until a successor is identified, Freescale said. The company did not say how long the search for a new CEO was expected to take, only that it would "likely take some time."

When Beyer joined Freescale in March 2008, he committed to leading the company for four to five years, Freescale said. In a statement, the company said that this is a "logical juncture for [Beyer] to depart given his time and progress against his stated goals."

Upon appointment of the next CEO, Beyer is prepared to serve in any way the board determines would be beneficial to Freescale, Freescale said.

Beyer, 63, won the 2012 UBM Electronics ACE Award for Executive of the Year at last month's ceremony. Beyer is also 2012 chairman of Semiconductor Industry Association's board of directors.


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