NXP Chief Financial Officer Resigns

NXP Semiconductors announced today that CFO Peter van Bommel is leaving his position for personal reasons, but will continue to support the semiconductor company in its wireless joint venture with STMicroelectronics. He will be replaced as CFO by Karl-Henrik Sundstrom, who also joins NXP's executive management team as an executive vice president. Sundstrom comes to NXP from telecommunications company Ericsson, where he led the company's global services operations and its Australian business before becoming CFO in 2003. He was named the best CFO in Europe for 2004, 2005, and 2006 by Institutional Investor magazine and left Ericsson late last year. He will move to Eindhoven, Netherlands, and work out of NXP's headquarters. NXP creates semiconductors, hardware and software for mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and other electronic devices.