NXP's CEO to retire this year, insider Sotomayor to take over

ReutersApr 28, 2025 8:45 PM

April 28 (Reuters) - NXP Semiconductors NV NXPI.O said on Monday that its CEO Kurt Sievers will retire by the end of the year, and Rafael Sotomayor, currently a Vice President at the chipmaker, will succeed him.

Shares of the Eindhoven, Netherlands-based company fell nearly 7% in extended trading.

Sotomayor will take on the role of the president effective Monday and will assume the role of chief executive in October.

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