Thursday, February 7, 2008

Freescale's Michel Mayer Steps Down as CEO

Michel Mayer has decided to step down as chairman and CEO of Freescale Semiconductor. The company and its board of directors have initiated a search for a new CEO. Mayer will continue in his current role until a successor has been identified and will remain chairman of the board until the transition is effective. Mayer joined Freescale in May, 2004 and led the company through its transition from a semiconductor division of Motorola to a public company following an initial public offering in July 2004. In December 2006, Freescale became the largest leveraged buy-out (LBO) in the history of the technology industry.

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