BUZZ-NXP Semiconductors falls on new CEO appointment

Reuters

2025/04/29

** Shares of NXP Semiconductors NXPI.O down 8% at $180.60 after the bell

** NXPI says 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

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

** Up to last close, shares down 5.6% YTD

(Reporting by Tanay Dhumal in Bengaluru)

((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal))

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