ON Semiconductor Corporation (NASDAQ:CY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(a) On November 17, 2016, J. Daniel McCranie, the Chairman of the
Board of Directors ofON Semiconductor Corporation (the Company),
informed the Company of his decision not to stand for re-election
to the Companys Board of Directors at the Companys 2017 Annual
Meeting of Stockholders (the 2017 Annual Meeting). Mr. McCranie
will continue to serve as Chairman of the Board of Directors,
Chairman of the Executive Committee of the Board of Directors, a
member of the Corporate Governance and Nominating Committee and a
member of the Science and Technology Committee until the election
of directors at the 2017 Annual Meeting. Mr. McCranies decision
not to stand for re-election was not the result of any
disagreement with the Company. The Board of Directors is actively
engaged in the process of determining which director will succeed
Mr. McCranie as Chairman of the Board of Directors.
A copy of the press release announcing Mr. McCranies decision not
to stand for re-election is attached as Exhibit 99.1 to this
Current Report.
Item9.01. Financial Statements and Exhibits.
(d)
Exhibits
Exhibit
No.
Description
99.1
Press release issued by ON Semiconductor Corporation, dated
November 21, 2016.
About ON Semiconductor Corporation (NASDAQ:CY)
Cypress Semiconductor Corporation delivers solutions from automotive, industrial and networking platforms to interactive consumer and mobile devices. The Company’s segments include Programmable Systems Division, Memory Products Division, Data Communications Division and Emerging Technologies Division. The Programmable Solutions Division designs and develops solutions for end-product manufacturers. The Memory Products Division designs and manufactures portfolio of high-performance memories for embedded systems. The Data Communications Division focuses on solutions for industrial, handset and consumer applications. The Emerging Technologies Division consists of its subsidiaries, AgigA Tech, Inc. and Deca Technologies, Inc. Its product portfolio includes NOR flash memories, Traveo microcontrollers, programmable system-on-chip solutions, CapSense capacitive touch-sensing controllers, and Wireless Bluetooth Low-Energy and universal serial bus (USB) connectivity solutions. ON Semiconductor Corporation (NASDAQ:CY) Recent Trading Information
ON Semiconductor Corporation (NASDAQ:CY) closed its last trading session up +0.03 at 10.91 with 3,546,666 shares trading hands.
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