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On Semiconductor Hires Former Cypress Semiconductor Exec As Finance Chief

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  • ON Semiconductor Corp (NASDAQ: ON) has hired Thad Trent as executive vice president and chief financial officer (CFO) effective February 16, 2021.
  • Trent will replace Bernard Gutmann, who will retire as the CFO after serving in various positions in the company since September 1999.
  • Trent is a finance veteran of the tech industry, most recently serving as CFO of rival Cypress Semiconductor, which was acquired by Infineon Technologies (OTC: IFNNY) in April 2020.
  • Gutmann will remain an advisor until April 2021, enabling a smooth transition.
  • ON's current CEO Hassane El-Khoury, who joined the company on December 7, 2020, was also a former Cypress Semiconductor executive serving as President and CEO until its sale to Infineon in April 2020.
  • Price action: ON shares are higher by 3.14% at $35.17 on the last check Thursday.
 

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Posted-In: Cypress SemiconductorNews Management Tech Media

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