Freescale's Michel Mayer Steps Down as CEO

Michel Mayer has decided to step down as chairman and CEO of Freescale Semiconductor. The company and its board of directors have initiated a search for a new CEO. Mayer will continue in his current role until a successor has been identified and will remain chairman of the board until the transition is effective. Mayer joined Freescale in May, 2004 and led the company through its transition from a semiconductor division of Motorola to a public company following an initial public offering in July 2004. In December 2006, Freescale became the largest leveraged buy-out (LBO) in the history of the technology industry.http://www.freescale.com