Freescale Semiconductor Names New President and CEO

By IndustrialsFOXBusiness

Freescale Semiconductor (NYSE:FSL) on Tuesday named former Texas Instruments executive Gregg A. Lowe its new chief executive and president.

Lowe previously served as the senior vice president and manager of TI’s (NYSE:TXN) Analog business unit.

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While at TI, Lowe was responsible for expanding the company’s business with automobile manufacturers and spent four years in Germany heading the European automotive sales force. He also managed the Microcontroller organization and the Application Specific Integrated Circuit organization.  He joined TI in 1984.

The company also appointed Daniel McCranie, a current member of the board of directors, as non-executive chairman of the board. The company said former chairman and CEO Rich Beyer will remain on the board during the transition period.

“Gregg is a proven leader and his extensive semiconductor experience makes him uniquely qualified to build upon Freescale's strong foundation,” said McCranie in a statement.

Lowe’s appointment is effective immediately.