Why Freescale Semiconductor Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Freescale Semiconductor (NYS: FSL) have popped today by as much as 14%, as the company has named a new CEO.
So what: Gregg Lowe is taking the lead, coming from Texas Instruments (NAS: TXN) , where he was senior vice president of the analog business. The outgoing CEO, Rich Beyer, will remain on the board to make sure the transition goes smoothly.
Now what: Beyer said in April that he was stepping down and retiring once a replacement was found, so the search took less than two months. Lowe joins Freescale with nearly three decades of industry experience, having joined TI in 1984 and occupying various positions throughout the years. TI is also seeing some gains today, and it has quickly filled Lowe's position with Brian Crutcher, a 17-year TI vet. Lowe is credited with helping lead TI's analog business well in recent times, and investors are clearly excited to have him at the helm of Freescale.
Interested in more info on Freescale Semiconductor? Add it to your watchlist by clicking here.
At the time this article was published Fool contributorEvan Niuholds no position in any company mentioned.Click hereto see his holdings and a short bio. The Motley Fool has adisclosure policy. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.