Benzinga | Sep 4, 2020 09:02AM EDT

ON Semiconductor CEO Keith D. Jackson To Retire Effective May 2021

PHOENIX, Ariz.--(BUSINESS WIRE)-- ON Semiconductor Corporation (NASDAQ:ON) ("ON Semiconductor") announced today that Keith D. Jackson, the Company's President and Chief Executive Officer, intends to retire from ON Semiconductor in May 2021. To ensure an orderly transition, Mr. Jackson will continue to remain in his current roles until his retirement and will assist the Board of Directors in its search for his successor. In addition, Mr. Jackson will also retire as a member of the Board of Directors in connection with his retirement as President and Chief Executive Officer and does not currently anticipate standing for re-election at the Company's 2021 Annual Meeting of Stockholders.

ON Semiconductor's Board of Directors is initiating a comprehensive search to identify the next CEO and will engage an executive search firm to support the search. The Board of Directors will consider both internal and external candidates