NXP Semiconductors Announces Leadership Transition

In a significant announcement, NXP Semiconductors revealed that Kurt Sievers, its President and Chief Executive Officer, will retire at the end of 2025. This marks the end of a remarkable 30-year journey with the company.

A Personal Decision

Sievers, who has been at the helm since May 2020, made this decision personally, unrelated to any strategic or financial considerations. The Board of Directors has been informed and respects his choice.

Introducing the Successor

The Board has unanimously approved Rafael Sotomayor, a seasoned executive within NXP, as the next leader. Sotomayor will take on the role of President immediately, working closely with Sievers during the transition period before officially becoming CEO on October 28.

"Rafael has been instrumental in crafting and executing NXP's strategy," remarked Julie Southern, Board Chair, highlighting the confidence in Sotomayor's leadership.