- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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