NXP's CEO to retire this year, insider Sotomayor to take over
(Reuters) -NXP Semiconductors NV said on Monday that its CEO Kurt Sievers will retire by the end of the year, and Rafael Sotomayor, currently a Vice President at the chipmaker, will succeed him.
Shares of the Eindhoven, Netherlands-based company fell nearly 7% in extended trading.
Sotomayor will take on the role of the president effective Monday and will assume the role of chief executive in October.
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