NXP Semiconductors Names Bill Betz as Executive Vice President and Chief Financial Officer

Rhea-AI Summary

NXP Semiconductors N.V. (NASDAQ: NXPI) has appointed Bill Betz as Executive Vice President and Chief Financial Officer, effective immediately. Betz, who previously served as Senior Vice President, Business Finance for NXP, succeeds Peter Kelly, who is retiring after over 40 years in the technology sector. NXP President and CEO Kurt Sievers expressed confidence in Betz's experience and understanding of NXP’s business model, indicating his leadership will help achieve strategic growth and profitability goals.

Positive

• Appointment of Bill Betz as CFO is expected to strengthen financial leadership.
• Kurt Sievers expresses confidence in Betz's experience aiding strategic goals.

Negative

• None.

EINDHOVEN, The Netherlands, Oct. 12, 2021 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) announced today that Bill Betz has been named NXP’s Executive Vice President and Chief Financial Officer, effective immediately. Betz, formerly Senior Vice President, Business Finance for NXP, replaces Peter Kelly, who – as announced this February – has decided to retire from NXP. Betz will report directly to NXP President and Chief Executive Officer Kurt Sievers.

“We are excited to have Bill join the NXP Management Team as CFO,” said Kurt Sievers, NXP President and CEO. “His experience, deep understanding of NXP’s business model, and the partnerships he has built with our business leaders will enable us to achieve our strategic growth and profitability goals.”

“I would also like to thank Peter Kelly for his dedication and contributions to NXP, and wish him well as he enters retirement after more than 40 years in the technology industry,” Sievers added.

About Bill Betz
Most recently, Bill was Senior Vice President, Business Planning & Analytics and Finance Business Group Controller for NXP’s business lines and shared service centers, and led the corporate financial planning, analysis, and business intelligence teams. Prior to joining NXP in 2013, he held finance leadership roles at Fairchild Semiconductor, LSI Corporation and Agere Systems.

Bill holds a Master of Business Administration from the University of Chicago Booth School of Business and a Bachelor of Science in Business Administration from West Virginia University.

About NXP Semiconductors
NXP Semiconductors N.V. enables secure connections for a smarter world, advancing solutions that make lives easier, better, and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the automotive, industrial & IoT, mobile, and communication infrastructure markets. Built on more than 60 years of combined experience and expertise, the company has approximately 29,000 employees in more than 30 countries and posted revenue of $8.61 billion in 2020. Find out more at www.nxp.com.

For further information, please contact:
Investors:	Media:
Jeff Palmer	Jacey Zuniga
jeff.palmer@nxp.com	jacey.zuniga@nxp.com
+1 408 518 5411	+1 512 895 7398

NXP-CORP

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/940c93cf-5423-4559-b834-226dcd3596d6

FAQ

Who is the new CFO of NXP Semiconductors as of October 2021?

Bill Betz has been appointed as the new CFO of NXP Semiconductors effective immediately.

What role did Bill Betz hold before becoming CFO of NXPI?

Before becoming CFO, Bill Betz served as Senior Vice President, Business Finance for NXP.

Who did Bill Betz replace as CFO at NXP Semiconductors?

Bill Betz replaced Peter Kelly, who is retiring.

What did Kurt Sievers say about Bill Betz's appointment?

Kurt Sievers expressed that Betz's experience and understanding will help achieve strategic growth and profitability goals.

What are the main sectors that NXP Semiconductors operates in?

NXP operates in automotive, industrial & IoT, mobile, and communication infrastructure markets.