The chief executive of ON Semiconductor is to retire in May next year, marking the end of nearly two decades of acquisitions and 40 years in the industry.
Keith Jackson, president and Chief Executive Officer, says he intends to retire from the company and the board of directors in May 2021. To ensure an orderly transition, he will continue to remain in his current roles until his retirement and will assist the Board of Directors in its search for his successor. The board will engage an executive search firm to support the search for both internal and external candidates.
“I have had the privilege of working in the semiconductor industry for more than 40 years and leading ON Semiconductor has been the highlight of my career,” said Jackson. “It has been a pleasure working with our remarkable employees to witness the expansive growth of the company since 2002. I believe now is the right time, though, to start transitioning the leadership of the company as it will allow me to spend more time with my family and wonderful grandchildren.”
Jackson joined ON Semiconductor as its President and Chief Executive Officer in 2002 and has overseen significant growth from a capitalisation of $300m in 2002 to $8.9bn in 2020. Acquisitions included Fairchild Semiconductor, AMI Semiconductor, Aptina Imaging, and Quantenna Communications.
“On behalf of the Board, I want to thank Keith for his significant contributions and impact in advancing ON Semiconductor’s position within the semiconductor industry,” said Alan Campbell, Chairman of the Board of Directors. “The company has benefited from his leadership, industry expertise and keen vision and we intend to work closely with Keith to ensure a smooth transition and engage in the next phase of leadership. The board is confident that Keith and his team will continue to focus on growing the company’s business as the board searches to identify the right person to takeover the reins from Keith.”