SAN FRANCISCO— Freescale Semiconductor Inc. Chairman and CEO Rich Beyer plans to step down after the conclusion of a search for a new CEO, Freescale said Thursday (April 19).
Freescale said Beyer informed the company's board of directors that he planned to retire after a successor is identified by the board. Beyer will remain in his current role until a successor is identified, Freescale said. The company did not say how long the search for a new CEO was expected to take, only that it would "likely take some time."
In an interview with EE Times, Beyer said that candidates from within Freescale as well as external candidates would be considered. Asked how long he expected the process to take, Beyer said it was impossible to know for sure, but that he expected the process to take "anywhere from just a couple of months to a little longer than that."
Asked if there was a danger that his pending retirement might be a distraction for Freescale, Beyer said it was his responsibility to make sure that wouldn't happen. He said he sent a memo to Freescale employees Thursday making it clear it would be business as usual during the CEO search.
"I'm not going to let anyone rest on their laurels," Beyer told EE Times. "If I get lackadaisical, that's my fault. I'm not going to. I love this company too much. I have too much invested in it."
When Beyer joined Freescale in March 2008, he committed to leading the company for four to five years, Freescale said. A statement circulated by Freescale said this is "a logical juncture for [Beyer] to depart, given his time and progress against his stated goals."
Upon appointment of the next CEO, Beyer is prepared to serve in any way the board determines would be beneficial to Freescale, Freescale said.
Beyer indicated in the interview that he would help Freescale and the new CEO in any role that the board of directors saw fit. Beyond that, he said, he has no other specific plans for retirement.
"I hope that I can continue to help the company," Beyer said. "I love this company and hope that I can help it for many moons to come."
Beyer, 63, won the 2012 UBM Electronics ACE Award for Executive of the Year at last month's ceremony. Beyer is also 2012 chairman of Semiconductor Industry Association's board of directors.