Analysis
ON Semiconductor Names New Chief Financial Officer
ON Semiconductor today announced that President and CEO Keith Jackson and the company’s Board of Directors have promoted and appointed Bernard Gutmann to Executive Vice President and Chief Financial Officer effective immediately.
Mr. Mr. Gutmann replaces Donald Colvin. The company announced his resignation as Executive Vice President and CFO in August, with Mr. Colvin remaining with the company through a leadership transition period scheduled to end on October 31, 2012.
Today's semiconductor market requires a global view and understanding of the business as well as in-depth financial knowledge of manufacturing, business unit and sales operations that Bernard clearly brings to the CFO role,” said Jackson. “We have a strong culture of leadership development within ON Semiconductor and are proud and excited to promote a strong leader from within our ranks. Prior to taking on this new role, Bernard worked directly for Donald Colvin as a key financial business partner to our company. Now Bernard will be a key member of my executive staff and his deep financial understanding of our business will help ensure that we maintain strong cash flows while supporting our longer-term strategic investments that position the company for future growth.”