ON Semiconductor names Hassane El-Khoury CEO

ON Semiconductor announced that Hassane El-Khoury has been named as the company's president, chief executive officer and member of its board of directors, effective Dec. 7, 2020. "Following a comprehensive internal and external search process, I want to welcome Hassane to ON Semiconductor," said Alan Campbell, chairman of the board of directors. "The focus of our search was to identify an experienced CEO who understands the transformation underway within our industry and to expand our leadership position in target secular growth markets, accelerate revenue, gross margin and earnings growth, and enhance stakeholder value. During the interview process, Hassane emerged as the clear leader to deliver on the company's immense potential for its customers, partners, employees and other stakeholders. We are thrilled to have found such a qualified leader." Prior to joining ON Semiconductor, El-Khoury served as president, chief executive officer and member of the board of directors at Cypress Semiconductor until its sale to Infineon in April 2020. As announced in September, El-Khoury's appointment coincides with Keith Jackson's retirement as ON Semiconductor's chief executive officer and president, and as a member of its board of directors. Mr. Jackson will continue as an advisor to the company through the end of May 2021 in order to ensure an effective transition of leadership to El-Khoury.