December 8, 2020 — ON Semiconductor (ON Semiconductor, US NASDAQ listing code:ON), announced that Hassane El-Khoury has been appointed as the company’s president, chief executive officer (CEO) and member of the board of directors, effective from December 7, 2020, U.S. time.

Chairman of the Board of Directors Alan Campbell said: "After a comprehensive internal and external search process, I welcome Hassane to join ON Semiconductor. Our search focuses on finding an experienced CEO who understands the ongoing changes in our industry and expands us. Leading position in the target long-term growth market, accelerating revenue, gross margin and profit growth, and increasing the value of stakeholders. During the interview process, Hassane appeared as a clear leader for customers, partners, employees and others Stakeholders realize the huge potential of the company. We are very happy to find such a qualified leader."

El-Khoury said: "I think a company is most successful when it can use its employees to solve customer challenges. ON Semiconductor has developed a broad product lineup that includes the necessary silicon building blocks to empower customers to achieve their goals. Market solutions. I am passionate about making customers successful, and I am happy to provide excellent system solutions covering the automotive, industrial, cloud power and Internet of Things (IoT) markets on the basis of the company, while improving financial performance."

Prior to joining ON Semiconductor, El-Khoury served as president, CEO and board member of Cypress Semiconductor until the company was sold to Infineon in April 2020. During his 13 years at Cypress, he has held various positions, including business department management, product development, application engineering and business development. After immigrating to the United States from Lebanon at the age of 17, El-Khoury received a bachelor's degree in electrical engineering from Lawrence University of Technology and a master's degree in engineering management from the University of Auckland. He is the 2018 Silicon Valley winner of 40 people under 40 and is currently a member of the KeraCel board.

As announced in September, the appointment of El-Khoury and Keith Jackson's resignation as CEO and President of ON Semiconductor and members of the board of directors proceed simultaneously. Mr. Jackson will continue to serve as the company's consultant until the end of May 2021 to ensure an effective transition of the leadership to El-Khoury. Alan Campbell said: "In the nearly two decades at the helm of Keith, he transformed ON Semiconductor from a US$1.2 billion standard product supplier to one of the world’s top 20 semiconductor companies with a US$5.5 billion value. I would like to thank our employees worldwide. Keith’s leadership and contributions to ON Semiconductor, and thank him for his important insights into the company in the coming months, which will strengthen the seamless transition of leadership."