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NXP Semiconductors announces Board of Management

Seasoned management team to form Board of Management of NXP b.v..

Eindhoven, The Netherlands, September - NXP Semiconductors (formerly Philips Semiconductors) has announced its plans to appoint four senior executives to the Board of Management of its holding company NXP b.v., effective with the expected closing date of the private equity sponsored spinout from Royal Philips. This announcement comes on the heels of the September 1st announcement of the NXP name and brand.

Formed under Dutch corporation law, NXP b.v. will be managed by the Board of Management, which has overall responsibility for the management of NXP, the deployment of strategy and policies, and the achievement of objectives and results. The Board interfaces with the Supervisory Board and Shareholders and assures good corporate governance and legal compliance, business principles, policies and controls.

The proposed members of the board bring to the table a wealth of management experience and expertise and is comprised of the following four executives:

Mr. Frans van Houten, President and Chief Executive Officer and Chairman of the Board of Management
Mr. Peter van Bommel, Executive Vice President and Chief Financial Officer
Mr. Theo Claasen, Executive Vice President
Mr. Hein van der Zeeuw, Executive Vice President

Mr. Guido Dierick, NXP legal counsel, will serve as Secretary to the Board of Management.

"I'm very pleased with the proposed Board of Management. These colleagues play a critical role in the transformation and future performance of the corporation, and I have great confidence in our ability to manage NXP going forward," stated Frans van Houten. "We look forward to working together as a team to meet the long-term strategic growth and profitability goals we've set for the company."

The formation of the Board of management will have no effect on the composition and continued role of the wider Executive Management Team of NXP Semiconductors, which continues to run the day-to-day affairs of the company. The members of the Board of Management are also members of the Executive Management Team.

The Supervisory Board and full governance structure will be announced with the closing of the agreement.

About NXP:

NXP is a top 10 semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in 20 countries across the world. NXP creates semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. News from NXP is located at www.nxp.com.