On Semiconductor Hires Former Cypress Semiconductor Exec As Finance Chief

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 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.