Lates News

On April 29th, Dutch automotive electronic chip giant NXP announced that current CEO Kurt Sievers will retire from the company at the end of this year. Current NXP executive Rafael Sotomayor will immediately assume the role of President and will become the new CEO on October 28th. Kurt Sievers has been CEO of NXP since 2020. NXP stated that his departure is "purely a personal decision and unrelated to any disagreements with the board." According to the latest data released by NXP, revenue in Q1 2025 was $2.84 billion, slightly higher than the market expectation of $2.83 billion. In comparison, revenue in the same period last year was $3.13 billion, a decrease of 9%, and net profit was $490 million, a decrease of 23%. The company expects revenue in the second quarter to be between $2.8 billion and $3 billion, with the midpoint higher than the analysts' average estimate of $2.87 billion. Kurt Sievers stated at the earnings call that NXP is operating in a very uncertain business environment due to the direct and indirect effects of fluctuating tariffs.