Yesterday, Nexperia announced that CEO Frans Scheper has decided to take early retirement and will step down as Nexperia CEO and Management Board Member today. Frans Scheper will continue to serve as an advisor to the Chairman for a period of time to help achieve a smooth transition and provide continuity. At the same time, Xuezheng Zhang, currently Chairman of the Management Board of Nexperia, will assume the role of CEO.

Xuezheng Zhang is the founder and chairman of Wingtech. In December 2019, Wingtech completed the acquisition of 79.98% of Nexperia with 26.854 billion CNY - the largest semiconductor acquisition in China's history and the first time for a Chinese company to acquire a world-leading semiconductor company.

Frans Scheper indicated: “I am proud of what Nexperia has become and will miss the team. At the same time, I have decided not to seek a prolongation of my four-year tenure. Now is the time for Wingtech to decide on Nexperia’s future leadership.”

Xuezheng Zhang (Wing) indicates: “Frans has been key to the success of Nexperia. On behalf of the Board I want to thank him for what he has been for the Company. I am determined to work closely with the Executive Management Team. And I am happy Frans will help me in the next months as Special Advisor.”