NXP Semiconductors says CFO to resign, names successor

Reuters News
Posted: Mar 19, 2012 6:54 AM

* CFO Karl-Henrik Sundstroem to step down

* Peter Kelly to be new CFO

(Reuters) - Chipmaker NXP Semiconductors NV said its chief financial officer Karl-Henrik Sundstroem will step down by the end of July for personal reasons.

The Netherlands-based company said executive vice-president Peter Kelly, who joined NXP Semiconductors in March 2011, will take over from Sundstroem.

Kelly has previously been the CFO of UGI Corp and Agere Systems Inc, NXP said.

The company's shares closed at $26.27 on Friday on the Nasdaq.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sreejiraj Eluvangal)