Freescale Semiconductor Holdings Ltd has named Texas Instruments Inc executive Gregg Lowe as its new CEO on Tuesday.
Reuters reports that Lowe joined Texas Instruments in 1984, and will succeed Rich Beyer as the new CEO. Beyer has served as CEO for four years. Lowe’s successor at TI will be senior vice president Brian Crutcher, according to a statement made by the company.
Lowe stated of the move that:
“Freescale is a great company today and I am honored to be able to lead a talented group of professionals at the company to even greater achievements moving forward.”
A board member for Freescale, J. Daniel McCranie, stated of Gregg Lowe that:
“Gregg is a proven leader and his extensive semiconductor experience makes him uniquely qualified to build upon Freescale’s strong foundation, leading the company to our next stage of growth.”
McCranie was also quick to compliment Beyer, the former Freescale Semoconductor CEO, who took over the then-struggling company in 2008, and helped to turn it around. According to The Statesman, McCranie stated that:
“Rich’s considerable management and leadership skills drove the company through a successful transformation, creating a solid foundation to enable future profitable growth and we look forward to his continued involvement with the board.”
Lowe graduated from Rose-Hulman Institute of Technology in Terre Haute, Indiana in 1984, with a Bachelor’s of Science in electrical engineering. He later graduated from the Stanford Executive Program at Stanford University. Freescale Semiconductor is a global leader in embedded processing solutions, with applications in the automotive, consumer, industrial and networking markets, according to Market Watch.