Kurt Sievers steps down at NXP
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NXP Semiconductor has appointed a new chief executive to take over from Kurt Sievers in October. Rafael Sotomayor takes over as President today, with a transition to CEO and President on October 28, 2025.
Sotomayor is currently general manager of the secure connected edge business and is base din San Jose, California. He joined ten years ago from Broadcom, where he was vice president of marketing.
“Rafael has been an integral part of creating and shaping NXP’s strategy and enabling the company’s success. We are confident he is ideally suited to assume the role of President and CEO at NXP, and to execute the company’s vision for leadership in the intelligent systems at the edge within the Automotive and Industrial & IoT end markets,” said Julie Southern, chair of the board of directors.
“Kurt has been a dynamic, visionary, and highly effective CEO of NXP since May 2020,” she said. “He has been instrumental in leading the definition and implementation of NXP’s strategy to be the leader in intelligent systems at the edge within the Automotive and Industrial & IoT end markets. After a successful 30-year career with NXP, we are saddened to see Kurt retire. We and the entire NXP community thank him for his leadership and wish him the absolute best in his retirement.”
NXP stresses that Sievers’ departure is a purely personal decision and is not related to any disagreement with the Board of Directors, or any issues relating to the strategic or financial performance of the company.
Despite the continuing fall in its core automotive chip business, Sievers is cautiously optimistic for the rest of the year.
“NXP’s first-quarter results and guidance for the second quarter underpin a cautious optimism that NXP continues to effectively navigate through a challenging set of market conditions. We are operating in a very uncertain environment influenced by tariffs with volatile direct and indirect effects. Considering these external factors, we are redoubling our efforts to manage what is in our direct control, enabling NXP to drive solid profitability and earnings,” said Sievers.
Revenue for the first quarter was $2.84 billion, down 9% year-on-year, with a forecast for flat revenue in Q2.
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